{"id":8681,"date":"2024-12-19T08:10:00","date_gmt":"2024-12-19T08:10:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8681"},"modified":"2025-04-15T08:18:18","modified_gmt":"2025-04-15T08:18:18","slug":"orlando-multifamily-market-report-december-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-december-2024\/","title":{"rendered":"Orlando Multifamily Market Report \u2013 December 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 Movement Turns Negative<\/h2>\n<p>After a steady performance earlier this year, Orlando\u2019s rent growth turned negative again, impacted by high delivery volumes and current economic conditions, according to the latest Yardi Matrix Orlando multifamily market report. Average advertised asking rents were down 0.5% on a trailing three-month basis, to $1,767, while U.S. rates dipped 10 basis points, as per the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily outlook<\/strong><\/a> The occupancy rate in stabilized properties decreased 10 basis points year-over-year, to 94.3%, while Renter-by-Necessity occupancy recorded a steeper decline of 40 basis points.<\/p>\n<p><iframe id=\"datawrapper-chart-eXQIu\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Orlando vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/eXQIu\/1\/\" height=\"329\" 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>Orlando\u2019s employment market expanded 1.6% as of August, 20 basis points above the national average. Education and health services led gains with 7,500 jobs, but leisure and hospitality, one of metro\u2019s major economic drivers, added only 3,500 positions. The metro\u2019s unemployment figure stood at 3.4% as of September, 70 basis points below the U.S. rate, according to data from the Bureau of Labor Statistics. Orlando International Airport is set to benefit from an upcoming renovation and expansion plan. Approximately $1 billion in funding has already been approved for the project.<\/p>\n<p><iframe id=\"datawrapper-chart-4LE3L\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Orlando Employment Share by Sector  \" src=\"https:\/\/datawrapper.dwcdn.net\/4LE3L\/1\/\" height=\"433\" 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 10,611 units, or 3.9% of existing stock, came online this year through October, 70 basis points above the national rate of completions. Meanwhile, investment volume reached $1.3 billion, similar to the last year\u2019s low sales total.<\/p>\n<p>Read the full Yardi Matrix Orlando Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6645-MatrixMultifamilyOrlandoReport-December2024\"><strong>December 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Rent Movement Turns Negative After a steady performance earlier this year, Orlando\u2019s rent growth turned negative again, impacted by high delivery volumes and current economic conditions, according to the latest Yardi Matrix Orlando multifamily market report. Average advertised asking rents were down 0.5% on a trailing three-month basis, to $1,767, while U.S. rates dipped 10 [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8232,"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],"class_list":["post-8681","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"],"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 December 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in Orlando were down 0.5 percent on a T3 basis through October, to $1,767, 40 bps below the national rate.\" \/>\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-december-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 December 2024\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in Orlando were down 0.5 percent on a T3 basis through October, to $1,767, 40 bps below the national rate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/orlando-multifamily-market-report-december-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-19T08:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-15T08:18:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/08\/Orlando-iStock-2168639764.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 December 2024 - 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