Introduction

Investing in rental properties can be a lucrative venture, offering a steady income stream and long-term wealth building. However, the success of a rental property investment heavily depends on choosing the right location. A good rental property is characterized by high demand, low vacancy rates, and potential for appreciation. Factors such as convenience, tourist attractions, amenities, average home prices, return on investment, and unique features of the area all play a crucial role in determining the viability of an investment.

Volusia County, FL, with its diverse neighborhoods and vibrant communities, presents an attractive option for real estate investors. This guide will provide an in-depth overview of the best neighborhoods and areas within Volusia County, grading each on various critical factors to help you make an informed investment decision.

1. Daytona Beach

Grades:

• Convenience: A
• Tourist Attractions: A+
• Things to Do: A+
• Average Home Prices: B
• Return on Investment: A
• Proximity to Work-Related Travel: A
• X-Factor: A+

Convenience: A
Daytona Beach offers excellent convenience with a wide range of amenities, including shopping centers, restaurants, and healthcare facilities. Its well-connected road network and public transportation make commuting easy for residents and tourists alike.

Tourist Attractions: A+
Known as the "World's Most Famous Beach," Daytona Beach attracts millions of visitors annually. Key attractions include the Daytona International Speedway, Daytona Beach Boardwalk, and a plethora of beachfront activities.

Things to Do: A+
From vibrant nightlife to family-friendly activities, Daytona Beach has it all. Popular activities include water sports, fishing, golfing, and attending events such as Bike Week and the Daytona 500.

Average Home Prices: B
The average home prices in Daytona Beach are relatively affordable compared to other coastal cities in Florida, making it an attractive option for investors. However, prices are steadily rising due to high demand.

Return on Investment: A
Daytona Beach offers a strong return on investment due to its high rental demand and steady property value appreciation. The tourism industry significantly boosts rental yields.

Proximity to Work-Related Travel: A
The area is well-served by major highways, and the Daytona Beach International Airport provides easy access for business travelers. Additionally, the Ocean Center convention center and various sports venues are in close proximity.

X-Factor: A+
Daytona Beach's unique blend of vibrant city life and beachfront serenity makes it highly desirable. The annual events and the iconic beach culture give it a distinctive charm that appeals to a wide range of renters.

2. Ormond Beach

Grades:

• Convenience: A-
• Tourist Attractions: B+
• Things to Do: A-
• Average Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B+
• X-Factor: A

Convenience: A-
Ormond Beach is known for its quiet, suburban feel while still offering plenty of amenities. It is a great location for families and retirees, with good schools and healthcare facilities.

Tourist Attractions: B+
While not as bustling as Daytona Beach, Ormond Beach has its own charm with attractions like Tomoka State Park and The Casements. It offers a more relaxed atmosphere, appealing to those seeking tranquility.

Things to Do: A-
Residents can enjoy outdoor activities like hiking, biking, and water sports. The area also has a variety of dining options and local events that foster a strong community spirit.

Average Home Prices: B+
Home prices in Ormond Beach are higher than Daytona Beach but still offer good value for the investment. The area’s desirability keeps property values stable.

Return on Investment: B+
Ormond Beach provides a solid return on investment, with steady rental demand and property appreciation. It is particularly attractive for long-term rentals.

Proximity to Work-Related Travel: B+
While Ormond Beach is slightly farther from major transportation hubs, it is still conveniently located near major highways and the Daytona Beach International Airport.

X-Factor: A
The serene environment, combined with historical charm and beautiful natural surroundings, gives Ormond Beach a unique appeal. It’s perfect for those looking for a peaceful coastal lifestyle.

3. Deltona

Grades:

• Convenience: B+
• Tourist Attractions: B
• Things to Do: B+
• Average Home Prices: A-
• Return on Investment: B+
• Proximity to Work-Related Travel: B
• X-Factor: B+

Convenience: B+
Deltona offers a suburban lifestyle with good access to essential amenities. It has a range of shopping centers, schools, and healthcare services, making it a comfortable place to live.

Tourist Attractions: B
Deltona is not a major tourist destination, but it offers some local attractions like the Lyonia Preserve and Deltona Arts & Historical Center. It’s more suited to residents than tourists.

Things to Do: B+
Residents can enjoy various parks, recreational facilities, and community events. The area is ideal for families looking for a quiet, residential environment with plenty of outdoor activities.

Average Home Prices: A-
Deltona has some of the most affordable home prices in Volusia County, making it an attractive option for budget-conscious investors.

Return on Investment: B+
The lower home prices and steady demand for rental properties in Deltona provide a good return on investment. It’s an excellent market for affordable rentals.

Proximity to Work-Related Travel: B
While Deltona is not directly adjacent to major transportation hubs, it has good road connections to nearby cities and employment centers.

X-Factor: B+
Deltona’s affordability and family-friendly atmosphere make it unique. It offers a balance between cost of living and quality of life, appealing to a broad demographic.

4. New Smyrna Beach

Grades:

• Convenience: B+
• Tourist Attractions: A
• Things to Do: A
• Average Home Prices: B
• Return on Investment: B+
• Proximity to Work-Related Travel: B+
• X-Factor: A

Convenience: B+
New Smyrna Beach provides a relaxed coastal lifestyle with sufficient amenities. It’s less commercialized than Daytona Beach but still offers all the essentials.

Tourist Attractions: A
Known for its beautiful beaches and artsy vibe, New Smyrna Beach attracts both tourists and residents. Key attractions include the Canal Street Historic District and Smyrna Dunes Park.

Things to Do: A
The area offers a variety of activities, from surfing and fishing to exploring art galleries and attending local festivals. It’s a vibrant community with something for everyone.

Average Home Prices: B
Home prices in New Smyrna Beach are mid-range, offering good value for a desirable coastal location. The market is competitive due to high demand.

Return on Investment: B+
The strong rental demand and appreciation potential in New Smyrna Beach provide a good return on investment. It’s an attractive market for both short-term vacation rentals and long-term leases.

Proximity to Work-Related Travel: B+
New Smyrna Beach is well-connected by road and relatively close to Daytona Beach International Airport, making it convenient for business travelers.

X-Factor: A
The unique blend of beach town charm and vibrant arts scene sets New Smyrna Beach apart. Its laid-back atmosphere combined with cultural richness makes it highly appealing.

5. DeLand

Grades:

• Convenience: B+
• Tourist Attractions: B+
• Things to Do: B+
• Average Home Prices: B+
• Return on Investment: B+
• Proximity to Work-Related Travel: B
• X-Factor: A

Convenience: B+
DeLand offers a mix of suburban and historic charm with good amenities. It’s known for its excellent schools and healthcare facilities, making it a great place for families.

Tourist Attractions: B+
DeLand is home to Stetson University and a vibrant downtown area. Attractions include the DeLand Naval Air Station Museum and various historic sites.

Things to Do: B+
Residents can enjoy a range of activities, from exploring parks and nature trails to attending local festivals and cultural events. The downtown area offers shopping, dining, and entertainment options.

Average Home Prices: B+
Home prices in DeLand are affordable and offer good value. The historic charm of the area contributes to the desirability and stability of property values.

Return on Investment: B+
DeLand offers a solid return on investment with steady rental demand, particularly from students and university staff. The area’s growth potential is promising.

Proximity to Work-Related Travel: B
DeLand is not directly adjacent to major transportation hubs, but it has good road connections to nearby cities and employment centers. It’s a convenient location for those working in the surrounding areas.

X-Factor: A
DeLand’s historic charm, combined with a strong sense of community and cultural richness, makes it unique. It’s an attractive place for those seeking a blend of history and modern living.

Conclusion

Investing in rental properties in Volusia County, FL, offers a range of opportunities, from bustling tourist destinations to serene suburban areas. Each neighborhood has its unique characteristics and investment potential. Whether you’re looking for high tourist traffic, family-friendly environments, or affordable options, Volusia County has something to offer every investor. By carefully considering the convenience, tourist attractions, activities, home prices, return on investment, proximity to work-related travel, and unique features of each area, you can unlock the investment potential of rental properties in this diverse and vibrant region.