At this point, nearly everyone who's even somewhat worldly has heard what Florida has to offer – pristine beaches, retirees, etcetera. It should stand to reason that by now, anywhere in Florida that wants to be noticed better has something real to offer, besides the standard cliché pros of living in a subtropical area.
This brings us to Leesburg. Situated almost precisely in the middle of the Florida Panhandle, it's a town of 22,000 residents, and is a mere 25 kilometers from the coast, making a trip to the beaches easy, yet still keeping the town free of overpopulation, and keeping things a bit less touristy. Florida-based home buyers looking at Leesburg can expect a median home price of around $170,000, a somewhat affordable price tag. The area is known primarily for its immense selection of outdoor activities as well as a growing job market.
As far as the local economy is concerned, Leesburg has an overall employment rate of 4.8%, which is 0.4% lower than the national average. The job market is growing year after year, with the last year seeing a 2.4% increase. How affordable somewhere is for homebuyers is correlated merely to how much the residents tend to earn. With an average yearly income of $18000 and a median income of $33000 (half of the residents earn less, and half earn more), it's easy to see why houses tend to be on the affordable side. Those numbers are significantly lower than the US averages, so it's not to say that to live in Leesburg, you need significant amounts of capital. The job market is primarily healthcare-based and retail service-based, with those two industries making up 18% and 14% of jobs, respectively.
The population of Leesburg tends to be on the older side as everything I mentioned above attracts retirees to settle in Leesburg. The reason the job market sways heavily towards healthcare and service-based jobs is to service the large retired population in the area. Word is continuing to spread about Leesburg as an attractive retirement destination, so it stands to reason that any homes bought right now are set to appreciate over time, as more and more people look to find somewhere they can spend their golden years. The city has grown in population by a factor of nearly 50% since 2000, further cementing Leesburg’s place as an up and coming economic center.
If the resale value of a property is essential to you, you'll be pleased to know that in the past ten years, home appreciation in the Leesburg area is approximately 9%. Should you work in the healthcare or general services field, you'll be able to live comfortably in Leesburg while your home steadily appreciates over time to be resold, so you can then move to somewhere more suited for you and your family's changing needs.
The main takeaway is this town is currently low in population, low in price, but high in interest – both human interest and the interest you'll make on investing in housing. Capitalizing on this fact while houses are still accessible in Leesburg is a surefire way to prepare yourself financially for the future.
