If you’re planning to buy real estate in Florida, whether for investment, relocation, or retirement, choosing the right city can significantly impact your return on investment. Florida’s real estate market continues to thrive, offering plenty of opportunities in emerging locations with lower costs compared to major metropolitan areas like Miami.
To help prospective buyers, real estate experts Julio Ybanez and Raul Gastesi, along with Florida-based attorney Gastesi Lopez & Mestre, have identified three top Florida cities where property values are expected to appreciate over the next five years. These cities offer affordability, development opportunities, and strong economic growth.
1. Pompano Beach: A Thriving Coastal Market
Located just 40 miles north of Miami, Pompano Beach is an attractive option for buyers looking for a beachfront lifestyle without the high costs associated with cities like Fort Lauderdale and Boca Raton.
“Pompano Beach real estate is still more affordable than its affluent neighbors,” says Ybanez. “But with major brands like Ritz Carlton and Waldorf Astoria building luxury beachfront condos, property values are expected to rise.”
The city is undergoing a massive revitalization, led by its Community Redevelopment Agency (CRE), focusing on downtown and historic districts. With no state income tax, excellent schools, access to major hospitals, and proximity to airports, Pompano Beach is quickly becoming a real estate hotspot.
2. Fort Myers: Expanding Opportunities for Buyers
Fort Myers real estate is booming, making it one of the best cities to buy property in Florida. Once known as a retirement destination, Fort Myers now attracts a younger demographic due to its expanding cultural, dining, and outdoor recreation scene. According to U.S. News & World Report, the median age of a Fort Myers resident is now 45.
“Compared to Miami, there’s still a lot of land available for residential development,” Gastesi explains. “With lower property prices than Naples or Marco Island and no state income tax, Fort Myers offers affordability and long-term investment potential.”
3. North Bay Village: Miami Lifestyle at a Discount
Situated north of Miami Beach, North Bay Village is a hidden gem. Comprised of three islands on Biscayne Bay, the area offers an attractive alternative to Miami at a 30% to 40% lower price point.
“North Bay Village is a prime investment opportunity due to its strategic waterfront location and recent zoning changes that allow for increased building heights and density,” says Ybanez.
While single-family homes are available, the real attraction lies in new condo developments. With top developers from Florida and New York investing in the area, North Bay Village is set for a transformation over the next two to four years. Buyers can expect modern condos at significantly lower prices than neighborhoods like Brickell, Miami Beach, and Coconut Grove.
Why Now Is the Best Time To Invest in Florida Real Estate
Florida remains one of the hottest real estate markets in the U.S., thanks to its booming economy, tax advantages, and desirable climate. Investing in these up-and-coming cities offers buyers the chance to secure affordable property before prices rise. Whether you’re looking for a permanent home, vacation property, or rental investment, Pompano Beach, Fort Myers, and North Bay Village should be at the top of your list.
For those considering a move, now is the time to explore these promising markets before demand drives prices higher. Keep an eye on new developments, zoning changes, and community growth, as these factors will shape the future of Florida’s real estate landscape.
