NerdWallet, a consumer advocacy website, recently conducted a study to find the best Florida places to invest in real estate – and Doral ranked first. Doral, incorporated just 12 years ago, is recognized as an epicenter of international trade and commerce, and is home to “A” ranked schools, nationally-recognized parks and the renowned Trump National Doral.
“Doral has been my home for more than 20 years and we are very proud of this new designation as the top city in Florida for real estate investment,” Mayor Luigi Boria said. “Our city is experiencing an economic boom and I invite everyone to come and see why Doral is such a great place to live, work, learn and play.”
NerdWallet wanted to give potential buyers a look into the top Florida places that have shown healthy property appreciation trends over the last 10 years. NerdWallet based its rankings on the following criteria:
- Market health
- Price per square foot
- 10-year housing price change
- Property taxes
- Change in vacancy rate
Doral ranked first out of 227 places thanks to its relative affordability, low unemployment rate (4.4%, or over a full percentage point lower than the statewide rate) and strong population growth. This north-central Miami-Dade County city welcomed almost 6,000 new residents from 2010 to 2013, a gain of more than 14%, and is expected to reach 80,000 total residents in the next 3-5 years. Doral’s strong performance was further bolstered by its rising home values, which grew 62.1% over the past ten years. Miami-Dade communities dominated the list overall, with Bal Harbour, Homestead and Miami Lakes rounding out the top four spots.
For more information about NerdWallet, visit nerdwallet.com/cities.