Zolfo Springs is home to the best residential real estate investment market in Florida.
The 33890 zip code in Zolfo Springs presents the greatest opportunity for the best real estate investments among the 5,864 individual real estate markets in Florida we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
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Data sources
Most of the data in this article comes from the Zillow Home Value Index and the U.S. Census American Community Survey.
We update our data when the original sources update their data, usually monthly. Sometimes we'll update data more frequently.
Clever also performs regular quality checks to identify outdated data, broken data connections, and other data issues that may arise.
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5 best places to invest in Florida
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Zolfo Springs | 100 | 3.3 | 44% |
| 2 | Bowling Green | 92.4 | 3.3 | 43% |
| 3 | Ocala | 90.5 | 3.7 | 34% |
| 4 | Sebring | 89.1 | 3.7 | 33% |
| 5 | Live Oak | 88.8 | 3.6 | 41% |
🚨 This article is for informational purposes only. It isn't intended to convey financial or legal advice. We recommend you talk to a real estate agent or real estate attorney when buying a home in Florida.
1. Zolfo Springs
We've identified the 33890 zip code in Zolfo Springs as Florida's best real estate investment market. Here's why.
🔎 Key data about Zolfo Springs (33890)
| Data point | Value | Rank in state (of 5,864 markets) |
|---|---|---|
| InvestScore | 100 | Highest |
| Typical property value | $290,743[1] | 213th lowest |
| Five-year appreciation | 44%[2] | 42nd highest |
| Household income | $86,831[3] | 238th highest |
| Affordability ratio | 3.3 | 15th most affordable |
| Five-year population growth | 4.1%[4] | 198th highest |
| Unemployment rate | 4.4%[5] | 3rd lowest |
| Property taxes | $1,051[6] | 41st lowest |
| Educational attainment | 11%[7] | 403rd highest |
Zolfo Springs (zip code 33890) is the best residential real estate investment market in Florida. It has the 42nd highest property value appreciation among markets we evaluated, with a 44% appreciation of the typical property over the last five years.
Zolfo Springs is the 15th most affordable market among the 5,864 Florida markets we evaluated, with an affordability ratio of 3.3.
2. Bowling Green
The 33834 zip code in Bowling Green is the runner-up spot for the best real estate investments in Florida.
🔎 Key data about Bowling Green (33834)
| Data point | Value | Rank in state (of 5,864 markets) |
|---|---|---|
| InvestScore | 92.4 | 2nd highest |
| Typical property value | $203,504[1] | 38th lowest |
| Five-year appreciation | 43%[2] | 51st highest |
| Household income | $60,817[3] | 601st highest |
| Affordability ratio | 3.3 | 14th most affordable |
| Five-year population growth | 0.8%[4] | 505th highest |
| Unemployment rate | 5.5%[5] | 13th lowest |
| Property taxes | $983[6] | 33rd lowest |
| Educational attainment | 8.9%[7] | 409th highest |
The 33834 zip code in Bowling Green features a typical property value of $203,504, the 38th lowest in the state.
Property values have appreciated 43% over the past five years, the 51st highest increase among evaluated markets in the state. Bowling Green homes have an affordability ratio of 3.3, the 14th most affordable in the state.
3. Ocala
The 34472 zip code in Ocala comes in at No. 3 in our ranking of the best residential real estate investment markets in Florida.
🔎 Key data about Ocala (34472)
| Data point | Value | Rank in state (of 5,864 markets) |
|---|---|---|
| InvestScore | 90.5 | 3rd highest |
| Typical property value | $236,735[1] | 85th lowest |
| Five-year appreciation | 34%[2] | 158th highest |
| Household income | $64,208[3] | 547th highest |
| Affordability ratio | 3.7 | 59th most affordable |
| Five-year population growth | 3.4%[4] | 238th highest |
| Unemployment rate | 5.5%[5] | 13th lowest |
| Property taxes | $1,394[6] | 97th lowest |
| Educational attainment | 19%[7] | 346th highest |
With a typical property value of $236,735, Ocala's 34472 zip code features the 85th lowest property values in the state.
Ocala homes have an affordability ratio of 3.7, the 59th most affordable among the markets we evaluated.
4. Sebring
The 33875 zip code in Sebring ranks No. 4 among Florida's residential real estate investment markets.
🔎 Key data about Sebring (33875)
| Data point | Value | Rank in state (of 5,864 markets) |
|---|---|---|
| InvestScore | 89.1 | 4th highest |
| Typical property value | $283,440[1] | 190th lowest |
| Five-year appreciation | 33%[2] | 185th highest |
| Household income | $77,482[3] | 185th highest |
| Affordability ratio | 3.7 | 57th most affordable |
| Five-year population growth | 3.7%[4] | 219th highest |
| Unemployment rate | 6.2%[5] | 14th lowest |
| Property taxes | $1,596[6] | 150th lowest |
| Educational attainment | 26%[7] | 281st highest |
Property values in Sebring's 33875 zip code have seen the 185th highest increase among evaluated markets in the state, with an appreciation of 33% over the past five years.
Sebring's affordability ratio of 3.7 makes it the 57th most affordable among the 5,864 markets we evaluated.
5. Live Oak
The 32064 zip code in Live Oak rounds out our top five residential real estate investment markets in Florida.
🔎 Key data about Live Oak (32064)
| Data point | Value | Rank in state (of 5,864 markets) |
|---|---|---|
| InvestScore | 88.8 | 5th highest |
| Typical property value | $184,932[1] | 23rd lowest |
| Five-year appreciation | 41%[2] | 64th highest |
| Household income | $50,984[3] | 64th highest |
| Affordability ratio | 3.6 | 51st most affordable |
| Five-year population growth | 1.3%[4] | 454th highest |
| Unemployment rate | 4.4%[5] | 3rd lowest |
| Property taxes | $1,405[6] | 100th lowest |
| Educational attainment | 13%[7] | 391st highest |
Property values in Live Oak's 32064 zip code rose 41% over the last five years, ranking the city 64th highest among evaluated markets in Florida.
Live Oak homes have an affordability ratio of 3.6, the 51st most affordable among the markets we evaluated.
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Frequently asked questions
See our article Steps to Buying Your First Rental Property to learn the basics of real estate investing for beginners.
You'll learn the importance of setting goals, picking the right market, and more.
Cash investors often use what's called the 70% rule, which suggests they should pay around 70% of a house's after-repair value minus the cost of renovations.
By buying for about 70% of the after-repair value, they're positioning themselves to pay for repairs and other costs, and to lock in a profit.
The 70% rule isn’t a hard-and-fast formula, but a quick guideline investors use to evaluate potential deals.
Investing in residential real estate can be one of the best passive real estate investments in Florida.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in Florida
To determine the best real estate investments in Florida we evaluated 5,864 markets on eight metrics, and then assigned an InvestScore based on a proprietary weighting framework. Each market corresponds to a specific zip code in Florida.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes.
