Top LocationsWhere to Buy Florida Multi Family Homes for Sale by Alex Karani December 28, 2020December 28, 2020 by Alex Karani December 28, 2020December 28, 2020If you want to make money and build wealth, investing in real estate is a great way to do it. One of the best ways to invest in real estate is to buy multi family real estate such as a duplex or fourplex. However, to ensure success, one of the most significant factors that you should take into consideration before buying an investment property is the location.If you are wondering where to buy multi family homes for sale, one of the best multi family markets 2021 is Florida. But why should you invest in Florida multi family homes for sale and which cities in the Florida housing market should you target?Why Buy Florida Multi Family Homes for Sale?For a number of years, Florida has been one of the best places to buy multi family real estate in the US housing market. This is because of a number of factors including:1. Growing Job MarketWhen buying a multi family home, one of the key factors to take into consideration is the local job market. The Florida real estate market has grown into a go-to-market for real estate investors because of the stable growth of the job market. The local job market is actually one of those with the highest growth in the country.Florida has a diverse and dynamic economy and is known to be an ideal business location. This helps to create new high-wage jobs in different sectors including agriculture, tourism, transportation, and financial services. With unemployment rates decreasing, young professionals searching for employment opportunities are attracted to the state. Consequently, the demand for rental properties increases.2. Affordability Although some Florida multi family homes for sale will require a sizable sum of cash to purchase, the Florida real estate market is generally considered an affordable market. Around 67% of homes fall in the price range of $65,610 – $393,737. Compared to the national median home price of $348,000, you are likely to find a good deal in Florida compared to other locations in the US housing market.3. Population Growth Another factor that makes Florida a good real estate market for investors is the high population growth rate. Florida actually has one of the highest population growth rates in the country. According to the United States Census Bureau, the population of Florida is estimated to be over 21 million.People are attracted to the Florida housing market because of a number of reasons such as employment opportunities, relatively low cost of living, lifestyle, and good healthcare. All these factors make Florida an ideal location for real estate investors looking to buy multi family property.However, real estate markets in Florida don’t have the same investment potential. You still need to know the best places to buy Florida multi family homes for sale.The Best Places to Buy Florida Multi Family Homes for SaleIf you want to find the best real estate deals, you need to find the most promising cities in your state of choice. In a state as vast as Florida, narrowing down your property search to the top cities will increase your chances of success.One of the best ways to identify the best places to invest in real estate is to look at the capitalization rate (cap rate). This is a return on investment metric that measures the ratio of an investment property’s NOI to its purchase price. Unlike cash on cash return, this metric doesn’t take into consideration the investment property financing method. This makes it an ideal metric for comparing the ROI in multiple housing markets since the calculations are kept simple and straightforward.A good cap rate for multi family homes will vary from location to location. However, keep in mind that the average cap rate for multi family properties is usually lower compared to other investment property types because they are associated with lower financial risk.Learn More: What Is a Good Cap Rate When Investing in Multi Family Homes for Sale?Below, we’ve compiled a list of the best places to buy Florida multi family homes for sale. These are the markets with the highest cap rate in Florida according to Mashvisor’s data and predictive analytics.10 Best Cities in Florida with the Highest Multi Family Cap RatesNaples is one of the best places to buy Florida multi family homes for sale.#1. NaplesMedian Property Price: $486,644 Price to Rent Ratio: 14Monthly Traditional Rental Income: $3,005 Multi Family Cap Rate: 5.3%#2. Fort MyersMedian Property Price: $309,600 Price to Rent Ratio: 15Monthly Traditional Rental Income: $1,692 Multi Family Cap Rate: 4.3%#3. JacksonvilleMedian Property Price: $269,719 Price to Rent Ratio: 17Monthly Traditional Rental Income: $1,292 Multi Family Cap Rate: 4.1%You’ll find some of the most affordable Florida multi family homes for sale in Jacksonville. Start your search now.#4. OrlandoMedian Property Price: $368,594 Price to Rent Ratio: 20Monthly Traditional Rental Income: $1,508 Multi Family Cap Rate: 3.8%#5. West Palm BeachMedian Property Price: $385,433 Price to Rent Ratio: 18Monthly Traditional Rental Income: $1,764 Multi Family Cap Rate: 2.7% Find a Profitable Multi Family Property#6. SarasotaMedian Property Price: $1,265,577 Price to Rent Ratio: 27Monthly Traditional Rental Income: $3,964 Multi Family Cap Rate: 2.6%#7. TampaMedian Property Price: $490,300 Price to Rent Ratio: 23Monthly Traditional Rental Income: $1,806 Multi Family Cap Rate: 2.5%#8. ClearwaterMedian Property Price: $389,427 Price to Rent Ratio: 24Monthly Traditional Rental Income: $1,332 Multi Family Cap Rate: 2.3%#9. MiamiMedian Property Price: $578,170 Price to Rent Ratio: 24Monthly Traditional Rental Income: $2,046 Multi Family Cap Rate: 2.2%#10. GainesvilleMedian Property Price: $442,706 Price to Rent Ratio: 29Monthly Traditional Rental Income: $1,279 Multi Family Cap Rate: 1.5%Related: 3 Investment Property Search Tools to Find Multi Family Real EstateThe Bottom LineBuying Florida multi family homes for sale in 2021 could be a wise decision for many good reasons. It’s undoubtedly one of the best places to buy an investment property in the US housing market.To make your property search easier, we have also given you a list of some of the best places to buy Florida multi family homes for sale. However, that’s still not enough to find the best multi family property for sale in Florida. Why? Because a high cap rate doesn’t always equal a good investment. While it’s a good starting point to identifying a location, you need to factor in other metrics as well.To find the best real estate deals, you should analyze individual investment properties and ensure they will ultimately cash flow. That’s where Mashvisor’s multi family investment calculator comes in handy.With this tool, you can conduct a comprehensive investment property analysis on any multi family property in any market of your choice in the US. You will be able to calculate a number of key real estate metrics such as rental income, cash flow, cash on cash return, cap rate, and Airbnb occupancy rate. To get access to our real estate investment tools, click here to sign up for Mashvisor today and enjoy 15% off.Related: Multi Family Deal Analyzer: A Must-Have Tool Start Your Investment Property Search! START FREE TRIAL Cap RateFloridaJacksonville FLMulti FamilyNaples FLOrlando FL 0FacebookTwitterGoogle +PinterestLinkedin Alex KaraniAlex is an entrepreneur and an experienced content writer focused on personal finance, business, and investing. For over six years, he has contributed to a number of publications, both online and print. When he's not writing or working, Alex enjoys reading, traveling, and the outdoors. Previous Post How to Evaluate a Neighborhood Before Investing Next Post Why Real Estate Agents Make the Best Investors Related Posts Should You Go for a San Diego Investment Property or a Los Angeles Investment Property in 2018? 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