{"id":7693,"date":"2024-04-10T06:27:00","date_gmt":"2024-04-10T06:27:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=7693"},"modified":"2024-08-29T06:33:34","modified_gmt":"2024-08-29T06:33:34","slug":"orlando-multifamily-market-report-march-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/","title":{"rendered":"Orlando Multifamily Market Report \u2013 March 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/orlando-multifamily-market-report\/\">Orlando Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Wave of Deliveries Keeps Rent Movement Negative<\/h2>\n<p>Orlando rent growth has been steadily softening since late 2021, recording negative movement for nearly all of 2023 and into this year, according to the latest Yardi Matrix Orlando multifamily market report. Rates contracted 0.5% on a trailing three-month basis through January, to $1,758, while national averages were down only 0.2%, to $1,710, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily outlook<\/strong><\/a>. On a year-over-year basis, rent deceleration in Central Florida was among the steepest in the country, with rates declining 3.6%, second only to Austin (-6.0%). However, this isn\u2019t surprising, considering developers last year delivered the second-largest annual volume since 2016.<\/p>\n<p><iframe id=\"datawrapper-chart-2swWf\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Orlando vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/2swWf\/1\/\" height=\"452\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>The metro\u2019s employment market expanded 2.4% in the 12 months ending in November but was still 20 basis points above the U.S. figure. The leisure and hospitality sector, Orlando\u2019s economic backbone, could get a major boost from the expansion planned at Orlando International Airport. The Greater Orlando Aviation Authority intends to add 16 to 24 gates to the recently completed Terminal C, as passenger traffic continues to rebound. According to its latest activity report, the airport saw a 15.1% increase in traffic in 2023 compared to 2022.<\/p>\n<p><iframe id=\"datawrapper-chart-4c23S\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Orlando Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/4c23S\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>With 28,864 units underway, Orlando\u2019s development pipeline remained sturdy. After the 11,960 units that came online last year, another 654 units were delivered in January. However, construction activity will likely cool until lending conditions improve.<\/p>\n<p>Read the full Yardi Matrix Orlando Multifamily Market Report: <a href=\"\/publications\/download\/file\/5348-MatrixMultifamilyOrlandoReport-March2024\"><strong>March 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Wave of Deliveries Keeps Rent Movement Negative Orlando rent growth has been steadily softening since late 2021, recording negative movement for nearly all of 2023 and into this year, according to the latest Yardi Matrix Orlando multifamily market report. Rates contracted 0.5% on a trailing three-month basis through January, to $1,758, while national averages were [&hellip;]<\/p>\n","protected":false},"author":753,"featured_media":7269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,467],"class_list":["post-7693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","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 \u2013 March 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Orlando rents were down as of January, contracting 0.5% on a T3 basis. The wave of deliveries has dented occupancy, which stood at 94.2%.\" \/>\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-2024\/\" \/>\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 \u2013 March 2024\" \/>\n<meta property=\"og:description\" content=\"Orlando rents were down as of January, contracting 0.5% on a T3 basis. The wave of deliveries has dented occupancy, which stood at 94.2%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-10T06:27:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-29T06:33:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.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=\"Razvan Cimpean\" \/>\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 \u2013 March 2024 - Yardi Matrix Blog","description":"Orlando rents were down as of January, contracting 0.5% on a T3 basis. The wave of deliveries has dented occupancy, which stood at 94.2%.","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-2024\/","og_locale":"en_US","og_type":"article","og_title":"Orlando Multifamily Market Report \u2013 March 2024","og_description":"Orlando rents were down as of January, contracting 0.5% on a T3 basis. The wave of deliveries has dented occupancy, which stood at 94.2%.","og_url":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2024-04-10T06:27:00+00:00","article_modified_time":"2024-08-29T06:33:34+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.jpg","type":"image\/jpeg"}],"author":"Razvan Cimpean","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Laura Calugar","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/"},"author":{"name":"Razvan Cimpean","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6"},"headline":"Orlando Multifamily Market Report \u2013 March 2024","datePublished":"2024-04-10T06:27:00+00:00","dateModified":"2024-08-29T06:33:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/"},"wordCount":230,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.jpg","keywords":["Multifamily Outlook 2024","Orlando"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/","url":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/","name":"Orlando Multifamily Market Report \u2013 March 2024 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.jpg","datePublished":"2024-04-10T06:27:00+00:00","dateModified":"2024-08-29T06:33:34+00:00","description":"Orlando rents were down as of January, contracting 0.5% on a T3 basis. The wave of deliveries has dented occupancy, which stood at 94.2%.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.jpg","width":1200,"height":628,"caption":"Photo by Wirestock\/iStockphoto.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-march-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Orlando Multifamily Market Report \u2013 March 2024"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/694c0c0a53e89aa8de1e53ff8201b3b6","name":"Razvan Cimpean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a2a826ff843b4f800ff5528644dc28dc336a20ec16082b6108ff5a5def333e6d?s=96&d=mm&r=g","caption":"Razvan Cimpean"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/01\/Orlando-iStock-1417034622.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=7693"}],"version-history":[{"count":2,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7693\/revisions"}],"predecessor-version":[{"id":7698,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/7693\/revisions\/7698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/7269"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=7693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=7693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=7693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}