Investing in condos can be risky if you buy too many in a place where they are not in demand. It's essential to do your research, so you don't end up making an investment that ends up costing you money. Boston and Ormond Beach are both great places with very different features, so let's take a look at both so you can see which city will give you better investment opportunities.

 

Boston Vs. Ormond Beach: Features

Boston: Boston has a population of around 675,000 residents, and it is the 24th most populated city in the country. It's one of the oldest cities in the country, and it has become a hub for technology in the last few decades. It is well known all over the country for its many prestigious colleges and universities, which bring in students from all over.

The city is also known for its outstanding arts and culture community that has flourished with the Boston Symphony Orchestra and a large number of museums in the city. Residents of the town also enjoy cheering for the local sports teams, including the Boston Red Socks (MLB), Boston Celtics (NBA), and Boston Bruins (NHL).

Ormond Beach: Ormond Beach has around 43,000 residents and is situated on the east coast of Florida, putting it right on the water. It is well known by locals as a beach town that caters to those who want to spend some time on the sandy shores or splash around in the waves. It's also known by those who love fast cars as "the birthplace of speed," as some of the first car races were held here in 1902, and the American Automobile Association took the first measurements of car speed here in 1903.

The town still has a reputation for being a great place to bring your car, and there are some parts of the beach where driving is still permitted. The city also has several hotels and resorts that bring in vacationers every summer, giving the local economy a great boost.

Differences: Boston is a much larger city with a small number of houses on the market, but the large student population means that a short-term rental condo might be a good investment. On the other hand, Ormond Beach is known for being a great place to relax, which is very common for "snowbirds" looking for a place to retire or for people who want to live in a stress-free home. The features are definitely on the Ormond Beach side for this one.

 

Boston Vs. Ormond Beach: Real Estate

 

Boston: Condos in Boston start in the lower 200k range, and the current median sale price as of July 2022 is in the lower 700k range. The median sale price has risen about 100k in the last year, which means they have become less affordable for anyone who is looking for less expensive investment properties. Condos have been selling quite a bit, but they are not as high in demand as single-family homes, which could be because many people in the city have started to need more space for growing families, so they have avoided a condo entirely.

Ormond Beach: The condos in Ormond Beach are selling at incredible prices compared to the rest of the country. In June of 2022, the average cost for a condo was in the lower 400k range. This is actually an increase over the last year of around 49%. Only nine condos were sold that month (a 47% drop from the previous year), which shows that the market might be untapped for real estate investors.

Differences: The price difference is huge between the two cities, and you can likely get two great condos in Ormond Beach for the price of one in Boston. The market in Bostin might be a little better (only 19 days on the market on average compared to 29 in Ormond Beach), but you can't compare it to everything you can get for your money in Ormond Beach. You can't even compare when you look at how much you are paying for your condo and add in the fantastic views of the gorgeous beaches.

 

Which place is better for condo investments?

After comparing the pros and cons of each city, Ormond Beach is the clear winner. They have a lower cost and fewer risks than the condos in Boston, which means you are much likelier to be able to offload it at a reasonable price if you need to. Boston is a great city, but the cost of living has increased real estate prices, so investing might not be the best idea. Ormond Beach is full of excellent properties that are just going to increase in value over the coming years, so have a look at some of the great condos on the market today to find the one that suits your needs.