A good way to earn extra income is to rent out your property to vacationers, especially in a popular tourist area like Florida. But, which places draw in the most people? Here are the best vacation rentals in Florida.
The Top Places for Vacation Rentals in Florida
Florida remains one of the most popular tourist destinations in the United States for locals and foreigners alike. For this reason, many potential homebuyers choose to invest in Florida properties. As an investor, you naturally want to get a guaranteed return on your investment. And, unless you have an endless supply of cash, buying a property is a big decision that often requires ample research.
Before committing to a purchase, you need to look at a number of statistics, such as the estimated rental income, the occupancy rate, etc. If you are looking for the best places for vacation homes in Florida, you have come to the right place. Check out these top 10 places for Florida vacation rentals.
1. Panama City Beach
Panama City Beach is one of the best places for vacation rentals in Florida. This area has an estimated rental income of $20,000, with a median listing price of $325,000 and an excellent occupancy rate.
And, looking at the many attractions this waterfront town has to offer, its popularity comes at no surprise.
There are a couple of waterparks in the area, as well as unique attractions like cruises and preserves to experience. At Panama City Beach, visitors are treated to endless fun in the water. After the sun sets, visitors can get a dose of the classic Panama City Beach nightlife. Grab a pint at Brass Tap or, for wine lovers, head to the Panama City Beach Winery.
2. Palm Coast
If you want a place to put up for rent in Florida, consider Palm Coast. This city has one of the highest rates of population growth in the country. There is plenty to do here — with a plethora of gorgeous parks and a wide selection of biking and hiking trails.
With a booming economy and a vibrant lifestyle on offer, Palm Coast attracts both short-term renters and long-term residents.
The median listing price for properties in Palm Coast is $220,000. Meanwhile, the estimated rental income is $33,000. With those numbers, you can easily get a return on your investment in no time.
3. Jacksonville
As the most populous city in the state, Jacksonville has a high volume of renters in Florida, be it long-term or short-term. There is a lot to love here, with its thriving economy, strong arts & culture scene, and a bevy of reputable schools.
In terms of tourism, Jacksonville does not disappoint. It has a wide array of beaches, museums, and parks, not to mention great food and drinks.
If you are looking for one of the best vacation rentals in Florida, Jacksonville is the perfect place. With a median listing price of $215,000 and an estimated rental income of $35,500, you are pretty much guaranteed an instant return.
4. Navarre
Situated in the Florida Panhandle, Navarre has plenty to offer. Tourists flock to “Florida’s Best Kept Secret” in search of a good vacation.
Adventure seekers love it here, thanks to the many activities they can take part in. From surfing and boating to fishing and bird watching, Navarre seems to have it all.
Navarre is also close to many military facilities, which means military families are always looking for a place to call home. With a good occupancy rate and a median listing price of $260,000, you can earn an estimated rental income of $39,000 easy.
5. Kissimmee
There is always something to do in Kissimmee, making it one of the most popular places for vacation rentals in Florida. This city has a good amount of public parks, where locals and tourists can go biking and canoeing. There are also a handful of golf courses, as well as a large outdoor shopping center.
But, perhaps its most notable trait is its proximity to Orlando, which is home to Universal Orlando, Walt Disney World, and SeaWorld — and that easily translates to masses of short-term renters. With a median listing price of $224,000, an estimated rental income of $20,500, and a ton of attractions, buying a vacation rental property in Kissimmee is definitely a good investment move.
6. Cape San Blas
As home to some of Florida’s best beaches, Cape San Blas draws in large crowds of tourists each year. And, for vacation property owners, where there are tourists, there is income.
Apart from the obvious activities to do in Cape San Blas, this area offers visitors a taste of the old Florida. That basically means it does not give off the same touristy vibes as other Florida areas. Furthermore, the locals here are very friendly.
If Cape San Blas’ attractions are not enough to convince you, perhaps the numbers will. With a median listing price of $224,000, you can buy a property here for cheap and rake in the profits. Why? Because rental properties in Cape San Blas offer an estimated rental income of $66,500.
7. Cocoa Beach
Cocoa Beach sees millions of visitors every year, and avid surfers make up a large chunk of that number. In fact, surfing is a way of life here. Cocoa Beach boasts the East Coast Surfing Hall of Fame and is home to the original Ron Jon’s, a well-known surf shop. And, with droves of surfers visiting this iconic city annually, they are going to need a place to stay.
For property owners like you, that means earning an estimated rental income of $30,500. And, with the median listing price sitting at $360,000, you can easily get a return on your investment.
8. Fort Myers
The population in Fort Myers continues to grow with each passing year. For property owners, that means earning steady income in the form of long-term renters. But, this Florida city is also a popular tourist destination, which means you can get your fair share of short-term renters as well.
While the estimated rental income ($24,000) is not as sizable as those offered by other cities, the median listing price of $199,000 certainly makes up for it.
9. Miami Beach
Arguably the most well-known destination in Florida, Miami Beach is a coastal resort city that pulls in millions of visitors every year.
There is plenty to do and see in Miami Beach, from the Art Deco District to the more urban downtown Miami. But, of course, the main draw is the stretch of sand known as South Beach.
Miami Beach receives millions of tourists and spring breakers annually, making it one of the best places for Florida beach rentals. The median listing price is the most expensive on this list, at $519,000. However, its estimated rental income of $61,000 definitely compensates for it. So, if you have a little more money to spare, consider buying rental property in Miami Beach.
10. Davenport
Davenport is a diverse Florida city known for its closeness to attractions such as Universal Orlando and Walt Disney World, which is why it is a popular choice for tourists. On the other hand, families move to Davenport because it is a generally safe community that offers good schools.
It is also a relatively quiet area, but recent developments have made it a rather vibrant place to live in. You can get a good return on your investment in Davenport. The area offers a median listing price of $235,000 and an estimated rental income of $25,500.
Florida Real Estate for Smart Investments
Spring breakers and tourists from around the world continually flock to the Sunshine State in search of a vacation rental property in Florida. This is why it remains one of the best places to buy real estate. With the demand for vacation rentals in Florida continuing to grow, property owners are basically guaranteed passive income when they choose properties in these 10 places.
Begin your search for the best property management company, HOA management company, or real estate company in your area using Florida Property Management’s directory. We can help you narrow down your options fast.
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