Rents Rebound, Boosted by Spring Bump
Orlando multifamily showed signs of improvement after nine months of negative or flat rent movement, as reported in the latest Yardi Matrix Orlando multifamily market report. The average advertised asking rent was up 0.2%, on a trailing three-month basis as of May, to $1,767, just 10 basis points behind the U.S. rate, which also clocked in at $1,767, as per the national multifamily outlook. Meanwhile, the metro’s average overall occupancy in stabilized assets stood at 93.7% in April, down 70 basis points year-over-year.
Orlando employment expanded by 0.5% as of February, 60 basis points above the U.S. figure. Only two sectors recorded net gains over 12 months: leisure and hospitality (8,600 positions) and education and health services (8,000). Area unemployment stood at 4.5% as of April, 20 basis points above the U.S. average, according to preliminary data from the Bureau of Labor Statistics. Orange County commissioners approved the final budget for the $560 million Orange County Convention Center Grand Concourse expansion. The project, which will include a new 100,000-square foot ballroom, among other additions, is set to generate more than 800 construction jobs.
Developers added 3,792 units, or 1.3% of existing stock, to the area in 2026 through May. That was almost double the U.S. rate of completions. Transactions totaled only $347 million through May, with the average per-unit price sliding to $174,502.
Read the full Yardi Matrix Orlando Multifamily Market Report: July 2026
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