Ocala, Florida – Marion County
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Cost of Living
Why Ocala, FL?
Located in the heart of Central Florida, Ocala has scenic landscapes and easy access to many recreational activities such as diving, canoeing & family picnics. Ocala is centrally located, making it possible to reach any of Florida’s attractions, within a simple 2 hour drive.
From traditional neighborhoods, gated subdivisions, to sprawling retirement communities, those in search of an investment property can find it all in Ocala, as well as throughout Marion County. There is a mix of owner (51%) and renter (49%) opportunities, as stated on Niche.com
The Ocala/Marion County Building Department has stated that housing growth in the city and county has remained strong. Like most of central and south Florida, its being driven by the influx of new families and retirees who are relocating from harsher and colder northern climates, as well as for the area’s growing economic and employment opportunities.
The fundamental indicators for robust growth that JAX seeks in investment properties are all present in Ocala. These investment fundamentals include:
Low interest rates
Lower cost of construction products and services.
Strong commercial construction activity.
Baby boomers reaching retirement age.
Lower than average commute times.
Great schools and modern medical facilities.
Attractive downtown and plenty of nearby recreation.
Pro-Business, Pro-Landlord, & Friendly Taxes
With 59,110 people, 21,348 houses or apartments, and a median cost of homes of $152,310, Ocala real estate and house prices are near the national average for all cities and towns.
Appreciation rates are strong in Ocala and have continued to grow faster than most communities nationwide. Real estate investors have found good fortune in Ocala, as appreciation rates in the latest quarter were at 0.11%, which equates to an annual appreciation rate of 0.46%. Home appreciation the last 10 years has been 9.2% and is now up to 11.0% in the last 12 months, which makes this a great time to buy for equity growth! Check out some recent stats for Ocala:
The unemployment rate in Ocala is 4.0% (U.S. avg. is 3.9%). Recent job growth is Positive. Ocala jobs have increased by 2.32% and shows only a 4% unemployment rate.
COST OF LIVING
Compared to the rest of the country, Ocala’s cost of living is 12.10% lower than the U.S. average.
Ocala’s population is 57,812 people. Since 2000, it has had a population growth of 25.83%.
The median home cost in Ocala is $132,400. Home appreciation the last 10 years has been 8.58%
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