{"id":8230,"date":"2024-08-15T09:40:00","date_gmt":"2024-08-15T09:40:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8230"},"modified":"2025-01-09T09:59:26","modified_gmt":"2025-01-09T09:59:26","slug":"orlando-multifamily-market-report-july-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-july-2024\/","title":{"rendered":"Orlando Multifamily Market Report \u2013 July 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>Rent Growth Picks Up Pace<\/h2>\n<p>Orlando may face economic challenges, but the metro\u2019s fundamentals suggest a balanced market, according to the latest Yardi Matrix Orlando multifamily market report. Advertised asking rents were up 0.3% on a trailing three-month basis, to $1,789, mirroring national trends, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily outlook<\/strong><\/a>. Meanwhile, the occupancy rate in stabilized properties decreased 80 basis points year-over-year, to 94.1%, with working-class rentals recording a sharper decline.<\/p>\n<p><iframe id=\"datawrapper-chart-z8XWL\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Orlando vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/z8XWL\/1\/\" height=\"321\" 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 employment market in Orlando expanded by 2.4% in the 12 months ending in March, with the addition of 32,300 net jobs. The metro\u2019s growth rate was 100 basis points above the national average. Education and health services led gains, with 9,500 positions. Orlando\u2019s jobless figure stood at 3.2% as of April, 70 basis points below the U.S. rate. One of Orlando\u2019s largest projects is Disney\u2019s expansion plan, which encompasses a 17,000-acre project outside the district\u2019s current property. This $17 billion investment is slated for completion over the next 20 years, with $8 billion allocated for spending in the next decade alone.<\/p>\n<p><iframe id=\"datawrapper-chart-HxpUH\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Orlando Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/HxpUH\/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>A total of 4,917 units, or 1.8% of existing stock, came online this year through May, double the national pace of completions. However, construction starts have declined since the beginning of this year. Transaction activity remained slow, with just $224 million in assets changing hands, a far cry from the more than $6 billion recorded in Orlando in 2021 and 2022.<\/p>\n<p>Read the full Yardi Matrix Orlando Multifamily Market Report: <a href=\"\/publications\/download\/file\/5931-MatrixMultifamilyOrlandoReport-July2024\"><strong>July 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rent Growth Picks Up Pace Orlando may face economic challenges, but the metro\u2019s fundamentals suggest a balanced market, according to the latest Yardi Matrix Orlando multifamily market report. Advertised asking rents were up 0.3% on a trailing three-month basis, to $1,789, mirroring national trends, as reported in the national multifamily outlook. Meanwhile, the occupancy rate [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":7696,"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-8230","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 July 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in Orlando mirrored the U.S. growth rate at 0.3 percent on a T3 basis in May, clocking in at $1,789.\" \/>\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-july-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 July 2024\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in Orlando mirrored the U.S. growth rate at 0.3 percent on a T3 basis in May, clocking in at $1,789.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-july-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-15T09:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-09T09:59:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/04\/Orlando-iStock-2152814461.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=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madalina Pojoga\" \/>\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 July 2024 - 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