{"id":3769,"date":"2022-04-11T14:39:36","date_gmt":"2022-04-11T14:39:36","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=3769"},"modified":"2023-09-13T12:12:50","modified_gmt":"2023-09-13T12:12:50","slug":"orlando-multifamily-market-report-march-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2022\/","title":{"rendered":"Orlando Multifamily Market Report (March 2022)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Completions, Deal Volume Hit Historic Levels<\/h2>\n\n\n\n<p>Boosted by strong in-migration and above-average job growth, <strong>Orlando\u2019s multifamily market performed well throughout 2021<\/strong>. This year started on a high note as well, with rents up 0.8% on a trailing three-month basis as of January, nearly three times the U.S. rate.<\/p>\n\n\n\n<p><strong>Orlando added 103,600 jobs in the 12 months ending in November<\/strong>, up 6.7% and 210 basis points above the U.S. rate. As the health crisis slowly subsides, international tourists are gradually returning to the metro\u2019s expanding theme parks. Several projects are underway across all major entertainment venues, with Universal announcing plans for its fourth Orlando theme park. Meanwhile, the first phase of the $3.8 billion, multiyear upgrade at Orlando International Airport is wrapping up, with substantial completion expected by the end of the first quarter. Additionally, Brightline\u2019s expansion to Orlando is roughly 70% complete, with the rail company launching its first test runs between West Palm Beach and Cocoa earlier this year.<\/p>\n\n\n\n<p>Stock additions have been generous in the past few years, with deliveries peaking at 12,948 units in 2021. Also encouraged by very low-interest rates, <strong>investors spent $5.7 billion on Orlando rental assets last year, setting a new record.<\/strong> Despite rent growth bound to return to more sustainable levels nationally, <strong>Yardi Matrix expects the average Orlando rate to rise 6.1% in 2022<\/strong>.<\/p>\n\n\n\n<p>Read the full <strong><a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1550-MatrixMultifamilyOrlandoReport-March2022\">Matrix Multifamily Orlando Report-March 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Completions, Deal Volume Hit Historic Levels Boosted by strong in-migration and above-average job growth, Orlando\u2019s multifamily market performed well throughout 2021. This year started on a high note as well, with rents up 0.8% on a trailing three-month basis as of January, nearly three times the U.S. rate. Orlando added 103,600 jobs in the 12 [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":3770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,467],"class_list":["post-3769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","tag-orlando"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Orlando Multifamily Market Report (March 2022) - Yardi Matrix Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orlando Multifamily Market Report (March 2022)\" \/>\n<meta property=\"og:description\" content=\"Completions, Deal Volume Hit Historic Levels Boosted by strong in-migration and above-average job growth, Orlando\u2019s multifamily market performed well throughout 2021. This year started on a high note as well, with rents up 0.8% on a trailing three-month basis as of January, nearly three times the U.S. rate. Orlando added 103,600 jobs in the 12 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-11T14:39:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T12:12:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/04\/Orlando-iStock-1371848296.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laura Calugar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Orlando Multifamily Market Report (March 2022) - Yardi Matrix Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2022\/","og_locale":"en_US","og_type":"article","og_title":"Orlando Multifamily Market Report (March 2022)","og_description":"Completions, Deal Volume Hit Historic Levels Boosted by strong in-migration and above-average job growth, Orlando\u2019s multifamily market performed well throughout 2021. This year started on a high note as well, with rents up 0.8% on a trailing three-month basis as of January, nearly three times the U.S. rate. Orlando added 103,600 jobs in the 12 [&hellip;]","og_url":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-04-11T14:39:36+00:00","article_modified_time":"2023-09-13T12:12:50+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/04\/Orlando-iStock-1371848296.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Laura Calugar","Est. reading time":"2 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