Miami vs Orlando Real Estate Investment Compared 2026
Miami vs Orlando investment property compared: yields, entry price, appreciation, STR rules, net return examples for foreign buyers.
By Florida Estate Editorial · Updated July 3, 2026 · 16 min read
Quick answer: Miami wins on appreciation and exit liquidity. Orlando wins on rental cash flow and lower entry cost. For most foreign investors deploying $400K-$600K, Orlando STR returns more income from day one while Miami builds equity value faster, choose based on whether your priority is annual income or five-year capital gain.
Florida commands 21% of all US international property transactions, more than any other state, for over 15 consecutive years according to NAR. Within Florida, however, the two dominant investment metros serve fundamentally different strategies. Getting this choice wrong means either locking capital into a low-yield asset when you needed income, or chasing short-term cash flow while missing a generational appreciation run.
This comparison strips marketing language from both markets and lays out the actual investor math: entry cost, operating expenses, net yield scenarios, appreciation data, regulatory risk, and exit mechanics. If you want the full yield methodology before diving in, start with our Florida rental yield guide. For area-specific detail, see the Miami area profile and Orlando area profile.
Florida captured 21% of all US foreign buyer purchases in 2025, ranking first nationally for over 15 consecutive years per NAR international buyer reporting. Transaction volume reached 16,401 deals worth $10.4 billion, up roughly 50% year over year. Miami-Dade investment condos often gross 3% to 5% on listing data while approved Orlando STR communities gross 6% to 10%, yet net yields frequently land near 2% to 5% after 20% to 25% management fees, property tax near 1% to 2% of assessed value, insurance binders from $2,000 to $8,000 on coastal towers, and combined tourist development tax plus 6% Florida sales tax on short-term rent near 12% to 13%. Florida Estate models Miami versus Orlando allocation against those line items before recommending any wire transfer to foreign buyers deploying $400,000 to $650,000. In early 2026, Miami-Dade condo supply near 17 months resets pricing while Osceola overlay townhomes still start near $300,000 to $550,000 for licensed STR use.
Florida Estate compares Miami and Orlando using verified HOA estoppel packages, DBPR license status, and insurance declarations rather than broker pro formas alone. Typical 2026 Miami underwriting assumes HOA near $800 to $1,500 per month, wind insurance near $4,000 to $15,000 per year, and net condo yield near 1% to 3% after fees. Orlando STR underwriting assumes 13% combined TDT and sales tax, management near 20% to 25% of gross rent, and net yield near 3% to 6% on well-run pool homes in approved overlay districts. DSCR lenders for foreign nationals often require 25% to 30% down and underwrite debt service on net rent, not platform screenshots. Cash buyers still need milestone inspection summaries on Miami towers and county overlay confirmation in Osceola before the first guest stay.
What entry cost and capital buys in Miami vs Orlando?
Florida Estate compares Miami and Orlando entry costs using verified HOA estoppel, tax registration, and insurance binders rather than listing pro formas alone. Orlando STR townhomes often start near $300,000 to $550,000 while Miami investment condos start near $400,000 to $700,000, yet net yields converge near 2% to 5% after 20% to 25% management and combined STR taxes near 12% to 13%.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Florida Estate underwrites entry cost and what your capital actually buys with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Miami investment-grade condominiums in the primary corridors, Brickell, Edgewater, and Sunny Isles, start at $400,000 for a one-bedroom unit with rental potential and scale to $640,000+ for the median foreign buyer purchase. Orlando STR-eligible vacation properties in the Kissimmee corridor start at $300,000 for a townhome and reach $550,000-$600,000 for a 5-bedroom pool home in a premium community.
| Metric | Miami (Brickell/Edgewater) | Orlando (Osceola corridor) |
|---|---|---|
| Entry price (investment-grade) | $400K-$640K+ | $300K-$550K |
| Typical unit | 1-2 bed condo, 700-1,200 sq ft | 3-5 bed home/townhome, 1,400-2,800 sq ft |
| Cash purchase timeline | 30-45 days | 30-45 days |
| Financed (DSCR/foreign national) | 45-60 days, 25-30% down | 45-60 days, 25-30% down |
| Doc stamp (deed transfer) | 0.7% of purchase price | 0.7% of purchase price |
| Title insurance + closing | ~1.5-2% of purchase | ~1.5-2% of purchase |
The dollar-per-square-foot disparity matters for a practical reason: Miami commands $500-$900/sqft in investor corridors while Orlando STR communities sit at $180-$280/sqft. That means a $450,000 budget buys you either a small Brickell condo with limited rental upside or a large Orlando vacation home with multiple bedrooms generating substantially higher absolute rental income.
For foreign buyers navigating entity structure decisions, our LLC vs personal title guide covers the privacy, liability, and estate-planning trade-offs that apply in either market.
What gross rental yield should Miami vs Orlando investors expect?
Florida Estate underwrites gross rental yield: the number everyone quotes with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Gross yield tells you how much rental revenue a property produces relative to its purchase price before any costs are deducted. It is the number used in every marketing brochure and the number that misleads the most investors.
| Metro | Rental model | Gross yield band | Typical annual gross rent ($450K property) |
|---|---|---|---|
| Miami-Dade (Brickell condo) | Long-term or hybrid | 3-5% | $13,500-$22,500 |
| Miami-Dade (short-stay permitted) | STR where allowed | 4-6% | $18,000-$27,000 |
| Orlando/Osceola (STR community) | Short-term vacation | 6-10% | $27,000-$45,000 |
| Orlando (non-STR zone) | Long-term | 5-7% | $22,500-$31,500 |
Orlando’s gross yield advantage is clear on paper. A $450,000 property generating 8% gross returns $36,000 annually; the same capital in a Miami condo generating 4% returns $18,000. That is a $18,000 annual gross income difference, meaningful for investors who depend on cash flow to service debt or fund living expenses.
However, gross yield without the operating cost layer is like a business revenue figure without expenses. The next section builds the net model that determines what actually arrives in your account.
Where does net yield go in Miami vs Orlando after fees and tax?
Florida Estate underwrites net yield model: where money actually goes with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Net yield subtracts every operating cost from gross income, giving you the true return on invested capital. The operating cost structures differ significantly between markets.
| Cost line | Miami condo (LTR) | Orlando STR (vacation home) |
|---|---|---|
| Property management | 8-10% of gross rent | 20-25% of gross rent |
| Insurance (wind + flood if applicable) | $4,000-$12,000/yr | $3,000-$6,000/yr |
| Property tax (non-homestead) | 1.0-1.5% of assessed value | 1.0-1.5% of assessed value |
| HOA / condo fees | $800-$1,500/mo ($9,600-$18,000/yr) | $150-$400/mo ($1,800-$4,800/yr) |
| Tourist development tax + sales tax | Not applicable (LTR exempt) | ~13% of gross rent (Osceola) |
| Vacancy allowance | 5-8% | 10-20% (seasonal) |
| Capex / special assessment reserve | 5-10% of gross (SB 4-D risk) | 5% of gross |
| Utilities (owner-paid in STR) | Tenant pays | $200-$400/mo ($2,400-$4,800/yr) |
Worked example, $450,000 purchase price, each market:
| Line item | Miami Brickell condo (LTR) | Orlando Storey Lake (STR) |
|---|---|---|
| Gross annual rent | $20,250 (4.5% gross) | $36,000 (8% gross) |
| Management | −$1,823 (9%) | −$8,100 (22.5%) |
| Insurance | −$7,500 | −$4,200 |
| Property tax (1.2%) | −$5,400 | −$5,400 |
| HOA | −$12,000 ($1,000/mo) | −$3,000 ($250/mo) |
| STR taxes (13% of gross) | $0 | −$4,680 |
| Vacancy | −$1,013 (5%) | −$3,600 (10%) |
| Utilities | $0 (tenant) | −$3,600 |
| Capex reserve (5%) | −$1,013 | −$1,800 |
| Net Operating Income | −$8,499 (negative) | $1,620 |
| Net yield | −1.9% | 0.4% |
This is the uncomfortable truth that separates serious investors from casual buyers. At identical $450,000 purchase prices, neither scenario produces life-changing net income. The Miami condo actually runs negative on a cash-flow basis at lower gross yield assumptions when carrying luxury-grade HOA and coastal insurance. The Orlando property barely breaks even on a net basis at 8% gross with full cost loading.
The path to positive net yield in each market differs:
Miami route to positive return: Buy below $400K in emerging corridors (Edgewater, Little River), target buildings with HOA under $700/mo, or accept lower-maintenance older stock where insurance is partially covered by master policy. Alternatively, prioritize appreciation over yield and hold 5-10 years.
Orlando route to 3-6% net: Achieve higher gross through premium communities (Reunion at $250-$350/night peak), lower purchase price ($300K-$380K townhomes), or self-manage to eliminate the 22% management fee. For a full breakdown of the yield optimization levers, see our gross vs net yield explainer.
How do Miami and Orlando appreciation track records compare?
Florida Estate underwrites appreciation and capital growth track record with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Income is half the return story. The other half is how fast the property itself gains value.
| Appreciation metric | Miami-Dade | Orlando/Osceola |
|---|---|---|
| 10-year CAGR (2015-2025) | 5-7% annually | 3-5% annually |
| Price recovery from 2023 peak | −9% condo median (buyer’s market 2026) | Flat to +2% (holding value) |
| Supply months (Q1 2026) | ~17 months (oversupplied) | 4-6 months (balanced) |
| Foreign capital inflow 2025 | $4.4B South FL (+42% YoY) | Moderate (domestic-heavy) |
| Price floor driver | International demand, limited coastal land | Theme park corridor demand, population growth |
Miami’s 17-month supply reading in early 2026 means price pressure in the short term, but this also represents a buying window for investors with a 5-7 year hold horizon. Historically, Miami condo cycles correct 8-12% and recover within 3-4 years driven by Latin American and European capital that treats Miami as a safe-haven vault.
Orlando appreciation is more modest but more consistent. There is no speculative pre-construction cycle driving volatility. Price growth tracks population and tourism fundamentals: central Florida added over 300,000 residents between 2020 and 2025, and Walt Disney World, Universal, and the new Epic Universe park guarantee sustained vacation demand.
For investors seeking both yield and growth, the best areas guide ranks every Florida metro on a combined return basis.
How do Miami and Orlando STR regulatory risks compare?
Florida Estate underwrites regulatory environment and str risk with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Regulation determines whether your intended rental strategy is legal and sustainable.
| Regulatory dimension | Miami-Dade | Orlando/Osceola |
|---|---|---|
| STR legality | Complex; varies by city/neighborhood | Allowed in designated overlay zones |
| Key STR restriction | Many buildings prohibit stays under 30 days via HOA | Must be in STRPD/overlay district |
| Licensing | Miami-Dade resort tax registration | DBPR vacation rental license ($155/yr) |
| Tax on STR revenue | 2% resort tax + 6% sales tax | 6% tourist development + 6% sales tax |
| Enforcement trend | Tightening (Miami Beach specifically) | Stable (Osceola has protected STR districts) |
| HOA rental vote risk | High (frequent rule changes) | Low in dedicated communities |
| State preemption | FL limits local outright bans | Same; counties use overlay zoning |
Miami’s STR environment is fragmented and generally hostile for condos. Many homeowner associations voted to ban rentals shorter than six months or one year after the short-term rental boom. Investors targeting short-stay income in Miami need to verify building-by-building restrictions and consider hotel-licensed residences (Icon Brickell hotel tower, for example). Our Miami-Dade STR regulation page provides current county-level rules.
Orlando’s STR environment is more investor-friendly within designated zones. Osceola County established Short-Term Rental Planned Development (STRPD) overlays specifically to accommodate vacation rentals near Disney. Communities inside these overlays, Reunion, Windsor Hills, Storey Lake, ChampionsGate, were purpose-built for nightly rental. Outside overlays (including Celebration), STR is banned. Verify zoning before purchase using the Osceola STR regulation guide.
For more on statewide rules, our comprehensive Florida STR regulations guide covers every major county.
How do Miami and Orlando insurance and carrying costs compare?
Florida Estate underwrites insurance and carrying cost comparison with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
Insurance is the single biggest cost-of-ownership difference between coastal Miami and inland Orlando. This is not a rounding error, it can determine whether a deal pencils at all.
| Insurance factor | Miami coastal condo | Orlando inland home |
|---|---|---|
| Wind insurance (Citizens or private) | $4,000-$15,000+/yr | $2,000-$4,500/yr |
| Flood insurance (FEMA A/V zone) | Required; $1,500-$4,000+/yr | Rarely required inland |
| HO-6 unit policy | $800-$2,000/yr | Not applicable (full coverage) |
| Master policy assessment risk | Yes (post-Surfside SB 4-D) | No |
| Total insurance budget | $6,000-$20,000+/yr | $2,500-$5,500/yr |
| Impact on net yield at $450K | −1.3% to −4.4% of purchase price | −0.6% to −1.2% of purchase price |
For a deep dive on structuring insurance into your investment model, see our Florida property insurance costs guide.
How do Miami and Orlando exit liquidity profiles compare?
Florida Estate underwrites exit strategy and liquidity with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Exit metric | Miami | Orlando |
|---|---|---|
| Average days on market (investor-grade) | 45-90 days | 60-120 days |
| Buyer pool | International + domestic | Primarily domestic investors |
| Resale to foreign buyer | High probability (FL #1 intl market) | Lower (domestic vacation buyer) |
| FIRPTA impact on foreign seller | 15% gross price withheld | 15% gross price withheld |
| Typical hold period for positive IRR | 5-7 years (appreciation-driven) | 3-5 years (income + modest growth) |
| 1031 exchange viability | Yes (US investors only) | Yes (US investors only) |
Miami offers deeper liquidity at exit because the international buyer pool constantly refreshes. Latin American capital seeking USD safe-haven assets, European buyers attracted by no state income tax, and Canadian snowbirds all compete for Miami inventory. This demand compression supports faster sales at higher price-per-square-foot.
Orlando liquidity is more dependent on the domestic US investor market and families seeking vacation homes. The buyer pool is narrower but the pricing is rational, fewer speculative flips means less volatility at exit.
Foreign sellers in both markets face FIRPTA withholding at 15% of gross sale price. Structuring the sale correctly (reduced rate certificate, installment sale) can mitigate this significant tax event. Planning for FIRPTA should start at purchase, not at exit.
Which market matches your strategy: Miami or Orlando?
Florida Estate underwrites decision framework: which market matches your strategy with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Investor profile | Better market | Why |
|---|---|---|
| Capital-growth, 7-10 year hold | Miami | International demand cycle, coastal scarcity, appreciation history |
| Cash-flow priority, income from year one | Orlando | Higher gross yields, purpose-built STR communities |
| Budget under $400K | Orlando | Investment-grade entry at $300K+ vs $400K+ Miami |
| Passive (minimal management) | Miami (LTR) | Long-term tenant, 8-10% management, lower operational demands |
| Active STR operator / willing to hire manager | Orlando | Higher return justifies 20-25% management fee |
| Estate planning / legacy asset | Miami | Deeper market, broader exit options, prestige factor |
| First-time foreign buyer, risk-averse | Orlando | Lower cost, more predictable yield, less regulatory ambiguity in overlay zones |
| Portfolio diversification (already holds yield assets) | Miami | Adds appreciation asset class to balance income holdings |
The correct answer for most investors deploying $400K-$600K into Florida real estate is not one market, it is understanding which market solves the specific problem you are trying to solve. Cash-flow investors who buy Miami condos become frustrated by negative yield. Appreciation investors who buy Orlando vacation homes miss generational Miami price runs.
If you are building your first Florida position and need to choose one metro, answer a single question: do you need income arriving quarterly, or are you building equity over a decade? The answer determines your city.
For buyers ready to evaluate specific buildings and communities, see the Orlando vacation rental guide or our Miami foreign buyer guide. For financing structures, our DSCR loans guide covers investor-specific mortgage products available in both metros.
What are the advantages and disadvantages of Miami vs Orlando investing?
Miami advantages:
- 4-7% annual appreciation over 10-year cycles
- $4.4B annual foreign capital inflow (2025) ensures deep liquidity
- No state income tax combined with international connectivity
- Prestige and legacy asset characteristics
- Multiple exit pathways (resale to international buyer, 1031 for US investors)
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
Miami disadvantages:
- Net yield often negative or marginal (under 2%) on cash-flow basis
- HOA fees of $800-$1,500/mo on luxury buildings
- Insurance crisis: coastal wind premiums $4K-$15K+/yr and rising
- SB 4-D special assessment risk on older condo buildings
- 17-month supply in 2026 means near-term price softness
- STR restrictions in most condo buildings
Orlando advantages:
- 6-10% gross yield in approved STR overlay communities
- Lower entry cost ($300K-$550K) with more rentable square footage
- Purpose-built STR zones reduce regulatory uncertainty
- Lower insurance costs (inland, no flood zone requirement)
- Consistent demand driven by theme park corridor (Disney, Universal, Epic Universe)
Orlando disadvantages:
- Modest 3-5% annual appreciation vs Miami’s 4-7%
- High STR management fees (20-25% of gross rent)
- Combined STR taxes of ~13% of gross revenue (Osceola)
- Seasonality: 10-20% vacancy in low season (Jan-Feb)
- Narrower exit buyer pool (domestic-focused)
- Operational intensity, guests, turnover, maintenance on multi-bedroom homes
What should investors verify before committing to Miami or Orlando?
Florida Estate underwrites what to verify before you commit with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges: gross yield 3% to 10% by market, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, combined STR taxes near 12% to 13% in major counties, and coastal insurance binders from $2,000 to $8,000 annually. This section requires written HOA estoppel, tax registration proof, and insurance declarations matched to your operating model.
Regardless of which market you choose, the due diligence checklist covers the full verification sequence. For Miami, pay particular attention to SB 4-D milestone inspection status and reserve adequacy, covered in our condo safety guide. For Orlando, verify the property sits within an approved STR overlay before signing any purchase agreement.
Florida Estate stat checklist (2026):
- Gross yield band: 3% to 10% by market and rental model
- Net yield after fees: often 2% to 5% after 20% to 25% management
- Property tax: near 1% to 2% of assessed value annually
- Short-term rent taxes: 6% Florida sales tax plus 4% to 6% tourist development tax in many counties
- Insurance binders: coastal condos often $2,000 to $8,000+ before wind coverage add-ons
What related definitions and compliance terms apply to Miami vs Orlando investors?
Florida Estate maps related compliance terms to verified numbers before investors wire funds. Typical 2026 underwriting assumes gross yields of 3% to 10% by market, net yields of 2% to 5% after fees, property tax near 1% to 2% of assessed value, insurance binders from $2,000 to $8,000 on coastal condos, and combined tourist development tax plus 6% state sales tax on short-term rent.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| HOA estoppel | Required before wire |
| Tax registration | County collector plus Florida DOR |
Key terms: see linked glossary and regulation pages below for cap rate, cash-on-cash return, and county STR overlays. Florida Estate confirms estoppel, tax registration, and insurance binders before recommending any wire transfer.
What is Florida Estate’s insider tip for Miami vs Orlando investors?
Florida Estate underwrites this market with county-verified rent, tax, and insurance inputs before any wire. Typical 2026 ranges include gross yield 3% to 10%, net yield 2% to 5% after 20% to 25% management, property tax near 1% to 2% of assessed value, and combined STR taxes near 12% to 13% in major Florida counties.
Florida Estate verification steps:
- Model net yield at 2% to 5% after 20% to 25% management and 12% to 13% combined STR taxes
- Confirm county tax registration and DBPR license before the first guest stay
- Request insurance binders showing STR or landlord use before wire transfer
| Florida Estate check | Typical 2026 range |
|---|---|
| Net yield after fees | 2% to 5% |
| STR tax stack | 12% to 13% combined |
| DSCR down payment | 25% to 30% |
| Coastal insurance | $2,000 to $8,000+ |
Our insider tip: confirm county STR rules, tax registration, and HOA estoppel in writing before you wire earnest money. Deals that skip verification lose 150 to 300 basis points of net yield when enforcement or special assessments appear post-closing. Match the operating model in writing to the asset class: long-term lease, furnished monthly, or licensed short-term rental.
Who we are (citable snapshot)
Florida Estate is an independent English-language research desk focused on Florida residential property for investors in the US, Canada, the UK, and Latin America. We publish net-yield models, county short-term rental rules, condo milestone inspection context, and foreign-buyer due diligence checklists. We are not a developer and not a listing portal. Enquiries may be referred to Florida-licensed brokers after a free shortlist review. Contact: info@florida-estate.com. For a budget-matched shortlist, use /get-shortlist/ with target market, USD budget, and rental strategy.
Frequently Asked Questions
Orlando delivers higher gross rental yields (6-10% STR vs Miami's 3-5% condo) and lower entry costs, making it stronger for cash-flow investors. Miami offers superior long-term appreciation, higher liquidity for exit, and deeper international buyer demand, better for capital-growth strategies. The right choice depends on whether you prioritize income today or equity gain over 5-10 years.
Miami condos in Brickell and Edgewater gross 3-5% and net 1-3% after high HOA, insurance, and property tax. Orlando STR communities like Reunion and Storey Lake gross 6-10% and net 3-6% for well-managed units. The Orlando corridor consistently outperforms on income, while Miami compensates with 4-7% annual price appreciation over the past decade.
Yes. Non-US buyers can purchase in either market with no additional restrictions beyond SB 264 (which affects only certain China-domiciled buyers near military areas). Cash purchases require 30-45 days to close. DSCR and foreign national loans are available at 25-30% down with higher rates. Both markets require an ITIN for tax filing.
Miami condo risks include SB 4-D milestone inspection requirements and surprise special assessments (post-Surfside), rising insurance premiums ($4K-$15K+/yr wind coverage), HOA fees of $800-$1,500+/mo in luxury buildings, oversupply in certain corridors, and potential 15-17 months of condo inventory in 2026 creating buyer-market price pressure.
Orlando STR risks include regulatory change (county overlay restrictions could tighten), seasonality (summer and holidays peak, January-February low), management dependency (20-25% of gross rent), tourist development tax at 6% plus 6% state sales tax on rental income, and HOA communities occasionally voting to restrict minimum stay requirements.
Miami has outperformed Orlando on price appreciation over the past 10 years, driven by constrained coastal supply, international capital flows ($4.4B foreign investment in South FL in 2025 alone), and prestige demand. Orlando appreciates more modestly at 3-5% annual average, with gains concentrated in master-planned communities with limited available lots.
Orlando STR-eligible townhomes start at $300K-$400K in communities like Storey Lake and Windsor Hills. Miami investment-grade condos in Brickell or Edgewater start at $400K-$640K+ for units with acceptable rental potential. Including closing costs (doc stamp 0.7%, title insurance, attorney) and reserves, plan $350K-$450K minimum for Orlando and $450K-$700K+ for Miami.
Orlando STR properties effectively require professional management (dynamic pricing, guest coordination, cleaning logistics) at 20-25% of gross rent. Miami condos rented long-term can be self-managed remotely through a tenant placement service at 8-10% plus one month's rent for placement. For foreign investors, professional management is strongly recommended in both markets.
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Florida Estate provides independent market research and analysis. Rental yields are illustrative ranges based on publicly available data, not guarantees of future performance. Consult a Florida-licensed real estate attorney, CPA, and broker before making binding investment decisions.