Emerald Coast Real Estate Blog

Research Shows over $27+ Billion Annual Boost in Florida from Vacation Home Rentals

UCF Research Shows Vacation Home Rentals Boost Florida’s Economy by $27+ Billion Annually

 February 11, 2020 – www.floridatrend.com

A new report by the University of Central Florida’s Rosen College of Hospitality Management shows the economic impact of Florida’s vacation home rental industry exceeds $27 billion. 

“Our research confirms that Florida’s lodging industry for vacations, beyond traditional hotels and resorts, which include rentals like houses, apartments and condos, boosts the economy significantly. Renters remain in the state longer, some up to 30 days, and spend more money, on average $1,000 per person,” says Robertico Croes, associate dean of research at UCF Rosen College. “These long-term stays also provide more than 100,000 jobs for people supporting the vacation rental businesses.”

 “Renters remain in the state longer, some up to 30 days, and spend more money, on average $1,000 per person.” — Robertico Croes, UCF associate dean

The report notes several other key findings:

•  The 2018 economic impact of Florida’s vacation home rental industry represents $16.6 billion in direct spending and $10.8 billion in indirect spending, totaling $27.4 billion.

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Where it's Better to Buy Instead of Rent in 2020

*Posted on January 22, 2020 – 4:14 pm by Suzanne De Vita on RISMedia’s housecall

Where It’s Better to Buy Instead of
Rent in 2020

It’s a crucial question, especially for first-time homebuyers:  Should I buy a home, or rent one?

As is the case in real estate, it comes down to location.

In 53 percent of the country’s housing markets, you’re better off buying than renting, according to ATTOM Data Solutions’ 2020 Rental Affordability Report, newly released.  For the report, ATTOM compared 855 counties, and assumed a median-priced, three-bedroom home and a median-priced, three-bedroom rental, based on government statistics.  In 66.3 percent of counties, the growth in home prices surpassed wages, the report shows.  In 57 percent of counties, earnings growth outpaced rents.

Of course, despite the overall trend, there’s nuances and patters.  Generally speaking, in dense metropolitan regions, it’s cheaper to rent.  If an area’s less populated, it’s better to buy.

Click here for an interactive map of the United States and where’s it’s better to buy than rent.



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