Florida has long been a favourite with investors in US property who are consistently drawn to the state’s year-round pleasant climate, stunning coastline and affordable prices. Recent research consolidates Florida’s position as one of the best places in the US to buy beach property.
A study carried out by RealtyTrac, one of the country’s leading housing data specialists, looked at 100 beach locations in the US and ranked them according to four criteria – weather (average annual temperature and number of days of sunshine a year), air quality, property prices and crime rates. Florida takes three of the top five positions (including number one) and a further ranking in the top 20 locations.
Top of the US listing is the small town of Hobe Sound in Martin County in southeast Florida. With a year-round temperature of 24 degrees and 64 per cent sunny days, Hobe Sound also ticks the boxes for air quality – 98 per cent – and low crime rate (A , the best in the rankings). But where the town really excells is in house prices and the Hobe Sound average price of $191,000 is considerably lower than any of its competitors.
In second place is Naples in southwest Florida, just south of Englewood and Sarasota, and enjoying the same beautiful Mexican Gulf coastline. Naples stands out for its warm temperature averaging 25 degrees and high possibility of sunny days (73 per cent). Its air quality is similar to Hobe Sound and crime rate very slightly higher (A rating). Properties in this part of Florida average $244,000, higher than Hobe Sound reflecting the better location in this part of Florida, but still representing excellent value in a beach location.
Completing the top five beach locations to buy property in the US is Marco Island, a short distance away from Naples. Here, the weather, air quality and crime rate are identical to its neighbour but properties are considerably more expensive. The average price tag of $416,000 reflects the higher end value in this part of the state.
In 20th place is Key Biscayne, in Miami Dade. Air quality comes in at 100 per cent here with average year-round temperatures of 26 degrees and 68 per cent sunny days. House prices in Key Biscayne mirror the area’s exclusivity and investors can expect to pay an average of $922,000.
The RealtyTrac survey confirms Florida’s excellent property investment potential – the warm weather, low crime rate and house price value appeal to a range of house buyer profiles. These include first time buyers, attracted to the state’s booming economy and job market; retirees in search of year-round sunshine and plenty to do; and second home buyers looking for a holiday home with excellent rental potential. Taking three of the top five best beach locations for property in the US, Florida is undoubtedly the place to buy when it comes to a home on the beach.
Source: Realty Trac
