Seeking the US Sun Belt –including Orlando
That’s the conclusion from a report on the Forbes news website, taking into account the latest US Census data.
Since 2000, the biggest migration winners in percentage terms are Raleigh, Austin, Las Vegas, Charlotte, Phoenix and Orlando.
The biggest losers are New York metropolitan area, which has lost 2.65million net migrants since 2000, followed by Los Angeles (1.65 million) and Chicago (880,000).
A major contributing factor is the migration of millennials, who are now headed increasingly to the South, with Orlando among the metros seeing the fastest growth among educated millennials.
One of the major reasons for the trend is the high price of housing and rental costs in New York, Los Angeles, San Francisco, New York, and Miami, which take a much bigger slice of income than locations in Florida.
Millennials are also headed increasingly to the suburbs. According to the National Association of Realtors, 80% of homes purchased by millennials from 2013-2014 were detached and the trend is set to accelerate in the next few years, as the peak of the millennial wave turns 30.
Education is another powerful factor and central (urban core) areas lost substantial numbers of schoolchildren between 2000 and 2010, while school populations rose in newer suburbs.
Overall the child population in Orlando is on the rise while dropping in places like Los Angeles and Chicago, as well as some Rust Belt cities.
Garrett Kenny, Chief Executive Officer of top Central Florida developer and agent, Feltrim Group, confirms that education is a major issue for housing investors with children.
“Central Florida boasts many excellent schools and property investors, particularly those from Asia, want to ensure that there are good schools for their children nearby, which happily is the case here.
“Education is also an issue for younger US families seeking the sun and lower property prices who are also drawn to the area due to its unbeatable choice of entertainment, including our Disney and Universal theme parks, sports and leisure facilities and shops and restaurants.”
Feltrim Group’s new luxury lakeside development, Balmoral at Waters Edge, is predicted to generate more than 50 elementary school students, plus around 30-40 middle school and high school students.
Balmoral at Waters Edge features luxury three to five-bedroomed houses in a 113-acre private gated community featuring lakes and landscaped gardens and parks, which are ideal investment properties and vacation homes.
The development, south of Disney, also boasts a host of top-class leisure facilities, including a resort-style pool with luxury clubhouse, mini waterpark, lakeside beach, gym and spa, gourmet kitchen, restaurant and more.
Feltrim Group began almost 20 years ago with CEO Garrett Kenny's vision of operating a world class, internationally connected real estate firm.
The group is headquartered in the heart of Florida in the city of Davenport and now brings together construction, real estate, management and immigration services for international and local buyers as well as investors.
Feltrim Group constantly strives to embrace new technologies, social media and traditional and non-traditional advertising platforms. Feltrim has evolved with the times and now has a multinational approach to Florida real estate and US-wide immigration services.
For more details, see www.feltrimgroup.com
116 Polo Park East Blvd.
CEO, Feltrim Group
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