Volusia County Ranks #3 Most Affordable Beach Town

6 Replies

Hey BP Fam!

It's me, Krista Goodrich, vacation rental guru and real estate warrior here in Daytona Beach. I am so happy to say that Volusia County (think Daytona Beach) ranked #3 in this year's most affordable beach towns per a recent (June 2020) Realtor.com article. 

You may be wondering why this makes me happy, right? I mean, don't people want to live in upscale places like Park City, Scottsdale, Miami or San Diego? Sure, those places are great, but as an investor don't you wish you bought there BEFORE they were great? Imagine that ROI!

When I started investing in Daytona Beach seven years ago, people thought I was crazy and they couldn't see the vision. Homes here are certainly dated, the nightlife pretty lackluster (except my new brewery on Main Street is great lol) and other Florida cities are more "trendy." Those things are all true. And all reasons why I continue to invest in Daytona Beach and surrounding areas. I mean, where else can you get a house minutes from the beach in the 300's, 200s and yes, even, $100k range?

Now 18 houses later with a portfolio of vacation rentals, long-term rentals and one commercial property, I continue to buy Volusia. We still have a long way to go here in Daytona and the ride so far has been amazing...and while we don't know what the market in general will do, I see a lot of reasons why Daytona is primed for continued growth:

1. We just, after 17 looooonnnngggg years, got a new pro-active and pro-growth City Manager. He is gung-ho and ready to rock...this is great for our town.

2. With Orlando expanding and every beach town south of us extremely more expensive than here, it seems to me we have one way to grow.

3. We have a labor shortage (who doesn't, right) but our town runs on tourism and there are not a lot of high-paying jobs so our rental market is, and always has been since I've been here, on fire.

4. Have you checked out our weather? Beautifully perfect for 10 months out of the year, August can be warm and Jan a little cold but it sure beats the heck out of shoveling snow or never being cool. I think we have the greatest weather in the world.

5. Elon Musk-our coast is simply the best place on the planet for the growing space industry.

That all being said, I'd love to hear from others on great places to invest in Vacation Rentals in areas where you can adventure travel-so ski/mountain towns, fun cities and even the desert...or anything with awesome hiking as I don't get to do that a lot in Florida (but we do get to surf and fish a lot so it evens out).  

Until then, happy investing!

Great post Krista! I'm long on Daytona beach as well. Daytona is truly one of the only affordable beach towns left in the state. Look at any county south of Volusia and the prices of homes are 2x+ comparable to what you would find here in Daytona. Especially with all the people moving to Florida (which I do not think will slow down anytime soon) South Florida is literally going to run out of room for these people. Residents will start to flock north towards Daytona so getting a portfolio together here now while prices are cheap is probably a great idea. Even though Daytona still has a lot of room for improvements if you look at a 10, 20, or 30 year time frame, Daytona is significantly undervalued IMO.  

Completely agree Kade!   I'm still picking up condos and homes under $200k that cash flow great and I think have incredible cap app upside...not banking on that part because I invest for cash flow but it's a reality that I'm certainly looking forward to.  

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Hi Krista, love your video on your page by the way. I Recently moved to the Ormond Beach area. I am looking to get into both LTR and STR. As far as the STR go in the Daytona area, which would you say are the most popular with the highest occupancy rates? Do Small or large condos do best, or SFH, or Multifamily homes? Im trying to learn what i can about the STR market in Daytona, so any help would be great. Thank you! :-)

Hey Krista great info and glad to hear it.  Moved here just over 2 years ago from the cold north and havent looked back.  Getting our real estate brokerage and PM up and going so lets keep this thing rolling along.  Loving the sun and fun of FL!

I'm feeling so frustrated up here in small town WI with everyone feeling entitled to what they want. Moving to pivot into STR and sell what won't fit that model. I'll probably buy a four season ski-in ski-out property a few hours north of here and the prospect of a beach house or five has always been tempting. I had been looking at TX figuring that FL was out of my price range. This is nice, thanks.

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