Is Florida a good place for real estate investment?

Where does Florida rank in GDP?

Is Florida a good state for real estate?

Florida's economy has been growing steadily over the past few years, with low unemployment rates and a strong job market,” Locklear said. “This means that there is a high demand for housing, making it a good time to invest in real estate.

Also, the state's real estate industry is already performing outstandingly. Many Florida cities have seen consistent real estate appreciation, making it a potentially profitable investment. For instance, Miami homes stay on the market for just 57 days before being sold, a sign of a stable industry.

Overall, Florida's real estate market is quite strong. Home values across the state increased by over 25% between 2020 and 2022 according to Zillow data. Florida also saw its population grow by over 900,000 residents between 2020 and 2021.

Florida's economy ranks among the largest in the country. As of 2021, the gross state product (GSP) is about $1.2 trillion, the fourth largest economy in the United States. Florida is responsible for 5.23% of the United States' approximately $21 trillion gross domestic product (GDP).

New data shows that today Florida, if it were an independent country, would be the 15th largest economy in the world. Florida overtook Indonesia and Mexico's economies during the past year.