If you’re in tune with the current real estate market conditions, you’ve had the opportunity to witness a significant turnaround when it comes to investment opportunities – especially in the US housing market.
Today, our attention is on Airbnb Palm Harbor, FL, and the opportunities this unincorporated community has to offer to its potential investors. We’re talking about a census-designated location with a population of just over 60,000. What investors find the most intriguing is that this is primarily a residential community.
The truth is, this location has undergone many changes – especially during the breakout of COVID-19, which impacted the entire real estate market.
To help you navigate the best possible solution in Palm Harbor, we’ll get into the core of its real estate market – and help you determine whether this is an investment plan you should work on realizing.
How Is The Florida Real Estate Market Holding Up?
The only proper way to start this topic would be to briefly comment on the current state of the Florida housing market and see how it’s holding up.
In the real estate business, in general, it’s imperative to look at the bigger picture and consider factors such as population growth, affordability of housing, tax rates, and the like. All of these parameters can be crucial for the investor’s decision.
According to statistics from 2020, we can see that Florida’s become a flourishing market for tourists and future residents, attracting about 2.7 million newcomers in just one year.
Most people who decide to come here are attracted to lower tax rates, the irresistible sunny beaches, and laid-back day-to-day life.
Who wouldn’t want to spend their holiday or even retirement years here?
The evident population growth dictated the future of this real estate market. And according to numbers, the Florida market is looking at a bright forecast in 2022.
There’s one thing we’d like to draw your attention to, though.
If you’re a Millennial, then it’s no wonder that investing in real estate has brought you to Florida.
The Palm Harbor real estate market is bait for millennials, as they’re in their prime years and represent the largest generational group in the US. We can see a large number of Gen M are leaving their childhood homes in New York and Chicago and moving to Florida, where they are open to new business experiences, low living costs, and access to natural beauty.
As for specific predictions, although the demand for single-family homes and condos is not flagging behind, there’s a problem with the supply of inventory. Luckily, this drawback is too small to stand in the way of increasing positive cash flow in Palm Harbor.
The next thing is inflation, which brings good and bad things for future investors.
The good thing is that nominal prices for homes will remain high. However, that also means that interest rates will see a slight increase, disrupting appreciation.
All things considered, the forecast for 2022 predicts that investors will still be willing to pay top dollar for the attractive property they come across in Florida.
Upcoming Foreclosures Influencing Airbnb Palm Harbor, FL
Another thing that will affect Airbnb rental income in Palm Harbor and the housing market, in general, is foreclosures – i.e., instances where homeowners fail to pay mortgages.
There’s no argument; the power is in the hands of lenders and how they treat borrowers experiencing difficulty paying off their mortgages in due time.
With rising moratoriums, foreclosure activities have already detected a massive rise in July of 2021 – by almost 34%. According to statistics, foreclosures will become more common in poor areas where borrowers have specific difficulties meeting their financial obligations.
Economists are still able to claim something positive from this, predicting that, even though foreclosures are determined to rise, this won’t be the end of Airbnb demand in Palm Harbor.
Investment Potential In Palm Harbor?
Finally, it’s time to look at the numbers regarding Airbnb Palm Harbor, FL, and its potential for real estate investing.
- Airbnb Rental Income: $3,356.31
- For-sale Listings: 52
- Airbnb Listings: 181
- Occupancy Rate: 58,9%
- Airbnb Daily Rate: 191%
- Traditional Rental Income: $1,828.44
- Airbnb CoC Return: 4.26%
- Median Price For Property: $453,469
- Property Price Per Square Foot: $264
- Days On The Market: 39
Why Is Palm Harbor Attracting Investors In 2022?
Despite the forecast that listed possible difficulties, Airbnb Palm Harbor, FL, will continue to be a hotspot for investors in 2022.
Essentially, smart investing implies having a strong and well-established rental strategy. In the case of Palm Harbor, this typical suburban community offers many opportunities for an investor who knows their way around property management.
So, here are a few reasons why real estate investing in Palm Harbor pays off in the long run.
Employment Is Not An Issue
Whether your plan is to invest in a property and rent it out to tenants for an extended period, or you want your property to be a short-term vacation rental, you won’t have to worry about employment.
The unemployment rate in Florida, in general, is below average. So, anyone who decides to move there in 2022 will have no trouble finding a job.
If you’d like to get more specific about job opportunities in Palm Harbor, these are the most common job positions:
- Retail salesperson
- Restaurant cooks
- Office clerks
- Customer service representatives
- Administrative assistants
- Wholesale representatives
Discovering the perfect property is not easy, especially if you don’t have the necessary tools at hand. The Florida housing market is enormous, and the trends seem to be changing on a weekly basis.
Long story short – you need to keep up.
By using our Airbnb calculator, your mission to find the perfect income property becomes ten times more manageable. Mashvisor’s tool is designed to help real estate investors calculate the profitability of their investment and make a tactical decision that would help them attain a profit. In short, the Mashvisor Rental Property Calculator will do the math for you.
It’s no secret that most investors start their careers in real estate by investing in Airbnb Palm Harbor, FL, and continue by flipping houses afterward. If you do it right, that could be a great way to make a high return on investment.
One of the reasons for this is the top-ranked schools located in Palm Harbor.
A significant number of young adults set on their decision to start a family find this suburban community to be their first choice.
Smart investors know that location is everything, but they also know that investing in an area close to a high-ranking school is a jackpot given the number of families that are interested.
With that in mind, here are 2022 best public schools in Palm Harbor:
- St. Petersburg Collegiate High School
- Palm Harbor University High School
- Tarpon Springs Fundamental Elementary School
- Chaminade Madonna College Preparatory School
Doing thorough research is half the business!
Your Airbnb income property doesn’t necessarily have to be associated with high-ranking schools or searching for employment.
How about focusing on the more fun part of Florida?
Fun outdoor activities and a relaxed lifestyle are what characterize the Sunshine State – and have a strong influence on investment opportunities you’ll discover there.
If you’re set on making money in real estate by focusing on short-term rentals only, then that is excellent news for you. These activities will bring in guests year-round.
Honeymoon Island State Park
If short-term rentals are your goal, you should be focusing on one of Florida’s most-visited – and loved – state parks.
The Honeymoon Island State Park provides visitors with more than three miles of beautiful beaches to explore and enjoy the sunny weather of Florida. It’s a real-life paradise – and a ticket to success, business-wise.
Visitors get to enjoy numerous outdoor activities, from biking and swimming to fishing and hiking. What’s great about this park is that it’s open 365 days a year from 8 a.m. to sunset.
As for water-related outdoor activities, the one that can boost your Airbnb Palm Harbor, FL ratings is the one and only – Lake Tarpon.
It’s the most famous rural lake located in the middle of a quiet suburban area. Dammed in 1968, Lake Tarpon is Florida’s 29th largest rural lake.
Fishing enthusiasts will go crazy for a short-term rental near this acclaimed spot. No wonder; this lake holds the record for producing a thriving bass population.
We’re guessing there are a lot of golf fans that would enjoy a clean course – or just catch a break from their hectic city life. And if that’s the case, then Copperhead Course is the perfect choice for investors looking to attract tenants with a love for golfing.
Copperhead Course is one of Florida’s most famous golf resorts – and home to the nationally broadcasted PGA TOUR’s Valspar Championship that takes place in March.
This golf resort offers a unique experience and landscapes that will allow golfers to feel like they’re participating in their own Championship.
Even though it’s not being talked about enough, golf does attract many tourists, especially during the summer. And your Airbnb Palm Harbor, FL property could thrive off this group of tourists.
Palm Harbor Museum
Don’t go thinking that Palm Harbor’s most vital asset is its sunny weather. This community is rich in terms of history, as well.
Located in Hartley House, this museum focuses on bringing the Palm Harbor history back to life with exhibitions that span from the 1800s, when this community originated, to the present day.
If you’re up for exploring the history of this place and spending the day participating in some fun interactive activities, put this on your to-do list. Admissions are free, by the way.
These were the top locations of our choice.
But since you’re close to making up your mind and investing in Airbnb Palm Harbor, FL, here are a couple of more attractive locations for you to explore:
- Wall Springs Park
- Three Rooker Island
- Crystal Beach Pier
- Oldsmar Sports Complex
- Tarpon Springs WaterSports
- Ozona Village Hall
Maximize Your Return On Investment
You’re set on investing in Airbnb Palm Harbor, FL, but you’re wondering how to maximize your profits?
If you’re new to this real estate game, there are two crucial tips that will make it easier for you to grasp the whole idea of making a high return on your investment.
Follow The Numbers
A wise investor knows that everything they need is in the numbers.
Investment-wise, statistics is your most reliable friend and a clear indicator of success. But of course, you’re not the one doing the calculations. Thankfully, you now have tools that’ll take into account your desired location and do the math for you.
When assessing if a specific location is worth your time and money, you must first consider numbers – such as occupancy rate, days on the market, traditional rental income, and more.
Treat Your Airbnb Like A Business
At the moment, we’re talking about Airbnb Palm Harbor, FL – but this is something that you could apply to the entire real estate market of Florida and the US.
Investors should treat their plans like any other business they’re involved in – seriously.
Investing is not a one-sided endeavor. You need to take into account the other side, as well.
Considering the needs of those you’ll be renting your property to is every bit as vital. Sure, it could mean a few extra hours spent in planning, but it’ll definitely be worth it – the ratings are clear evidence of that.
Once you determine your target renters and develop a solid short-term rental strategy, you can expect high returns!
Palm Harbor Investing: Conclusion
We’ve discussed some significant factors to consider when investing in Airbnb Palm Harbor – but let’s quickly go over the main points again for good measure.
Generally speaking, the Florida real estate market is still one of the most attractive spots for long and short-term rentals.
The only obstacle is locating the property that’s worth investing in, but here’s the good news:
Palm Harbor investors don’t have to worry about significant issues like high tax rates or legal restrictions. This suburban community attracts renters with relatively high employment rates, high-ranking schools, and various outdoor activities.
Palm Harbor’s most famous asset might be the sunny weather, but it’s not the only one. It’s a popular hotspot for golf and sports enthusiasts looking for a break from city life.
So, yes, investing in Palm Harbor could, indeed, help you expand your real estate portfolio – and attain a profit.
That’s all possible with a bit of help from Mashvisor. If you have any further questions you’d like to ask, reach out – we’d be glad to help you realize your plan!