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Market Report

Orlando Multifamily Investment Forecast

2020 Outlook

Robust Job Gains, Favorable In-Migration Trends Produce Vibrant Rental Outlook

Apartment market flourishes amid strong demand drivers. Orlando will retain its top spot in the nation for employment growth during 2020 as organizations add positions at a pace that is nearly triple the U.S. rate. Job opportunities coupled with the metro’s quality of life and a favorable tax climate attract workers and retirees to the region. This year, 28,000 households are expected to be formed, a gain that generates a margin of increase more than double that of the nation. Many of these households will favor the flexibility, amenities and affordability of renting. The monthly cost of housing is a mounting concern in the market as rent growth has outpaced the U.S. rate since 2013. As a result, vacancy in Class C units has been below 2 percent since mid-2017, driving up rent in this class much faster than the metro average. A surge in market-rate deliveries this year will assist in providing additional housing but will do little to alleviate the growing need for lower-cost apartments, holding vacancy extremely tight in Class C rentals.

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