Ormond Beach is known as a picturesque coastal town in Florida, and it’s also a growing real estate market. Over the last few years, a lot of investors have shown up looking to buy rental properties, and the short-term vacation rental market has grown quite a bit.
As local property managers, we’re always thinking ahead. What does the future hold for the Ormond Beach rental market? Understanding emerging market trends can help investors make informed decisions and maximize their ROI.
Here are some of the most notable shifts that are likely to impact the future real estate and rental scene in Ormond Beach.
Steady Rental Demand
Ormond Beach is experiencing consistent population growth, with many people relocating both regionally and from other states. Florida’s overall economic appeal, combined with coastal living benefits, is keeping the rental market strong. Rental demand across multiple property types, from condos and single-family homes to apartment complexes, is showing no signs of slowing down. We expect demand to continue, and if you’re an investor looking for your next opportunity, we think that focusing on properties that appeal to long-term tenants seeking stability is the way to go. From retirees to remote workers, we’re seeing a lot of residents looking for long-term leases.
Shift Towards Lifestyle-Oriented Rentals
Here’s a trend that’s likely to settle in for the coming years: lifestyle rentals. With more people working remotely, renters are prioritizing quality-of-life factors such as access to the beach, walkability, and proximity to outdoor activities. They want outdoor space, too, even if it’s just a courtyard or a pretty balcony. Lifestyle properties, including beachside homes or rentals with resort-like amenities, continue to attract high-value tenants willing to pay a premium for an enhanced living experience.
Coastal and walkable properties offer the highest potential for rental income and occupancy rates. Invest in renovating units with features renters desire, like home offices or outdoor spaces.
Rising Rental Rates
With demand continuing to outpace supply, rental values in Ormond Beach have shown steady growth over the past few years. Short-term vacation rental properties are also benefiting from the ongoing tourism economy, leading to lucrative rental yields.
Evaluate your rental pricing to remain competitive while ensuring it reflects both market conditions and the property’s unique value. For vacation rentals, adding extras like concierge services or modern furnishings can justify higher rates.
Eco-Friendly Rentals in Demand
Sustainability has become a key factor influencing consumer decisions, and real estate is no exception. Renters in Ormond Beach are increasingly drawn to energy-efficient homes with features like solar panels, smart thermostats, and water-saving fixtures. There are always concerns about hurricanes and tropical weather in this market, too, so make sure your properties are protected with hurricane shutters and wind-proof windows. Sustainable upgrades improve marketability, and they can also reduce utility costs and add long-term value to your investment.
Work with a Local Ormond Beach Property Management Expert
Navigating the Ormond Beach rental market can be challenging without expert guidance. Partnering with a property management company like ours ensures that you stay ahead of market trends. From helping you source prime investment properties to screening tenants and maintaining compliance, the right partner can help maximize your returns while minimizing stress.
The market, while strong, is always shifting, and sometimes those shifts are subtle but impactful. Let’s talk about it. Please contact us at Oceans Managing Group by calling (386) 255-8585, or visit www.oceanspropertymanagement.com.
