In 2024, real estate investors have been buying more homes in coastal cities, especially in California and Florida. Even though the housing market has slowed for regular homebuyers because of high interest rates, investors are still active in these places. Why? Beach cities attract tourists, renters, and people looking for vacation homes. These areas often offer steady rental income and the chance for home values to rise over time. As a result, investors see them as a safer place to put their money.
Miami is still one of the top spots
Miami had the highest percentage of homes sold to investors this year. Nearly 18% of homes purchased were bought by investors, which is slightly more than last year.
The typical price for an investor-bought home in Miami was around $482,000, which is 12% higher than in 2023.
Investors are drawn to Miami not just because of its warm weather and beaches, but also because it continues to attract people from all over the world.
These investors are often looking to rent out homes, which makes it harder for regular buyers to find affordable places to live.
Los Angeles sees big money investments
In Los Angeles, investors bought about 12.3% of all homes sold in 2024.
That’s a small increase from last year, but what stands out is how much they’re spending.
The average price for an investor-purchased home in L.A. was about $1.27 million—more than any other city on the list.
This shows that many investors in L.A. are wealthy and looking at high-end properties, possibly for luxury rentals or long-term gains.
L.A. continues to be a high-demand area even though home prices remain among the highest in the country.
Florida cities offer more affordable deals
For investors who don’t want to spend millions, cities like Jacksonville and Tampa in Florida are becoming more popular.
In Jacksonville, around 14% of homes were bought by investors. The typical price for those homes was about $225,000—relatively low compared to other cities.
In Tampa, the investor share was nearly the same at 13.7%, and homes sold for an average of about $288,000.
Both cities have seen small price drops in recent months, making them even more attractive to investors looking for lower-cost properties they can rent out or sell later for a profit.
What it means for the housing market
Even though overall home sales have slowed down across the country, these beach cities are still seeing plenty of investor activity. That means fewer homes are available for families and individuals who want to buy and live in them. It also puts more pressure on the rental market because many of these homes are being turned into rentals instead of owner-occupied homes.
Investors often have the money to buy in cash or offer more than the asking price, making it harder for everyday people to compete.
If prices continue to fall or stay steady, we might see even more investor interest in the months ahead, especially in cities with growing populations and strong demand for housing.
