Via Downtown Orlando/ Instagram
The City Beautiful, one of the fastest-growing metros in the county, is seeing spiking rent prices.
The City Beautiful is growing, expanding, and welcoming new residents. Unfortunately, that's brought along a massive increase in the average rent.
Average rents in Orlando have risen 13.3% since the start of 2021, according to a new report from commercial real estate company CoStar.
TheOrlando Business Journal first shared the report, which found that average monthly rent in Orlando is $1,514 per unit. The vacancy rate has fallen to 5.9%, the lowest since 2018.
Although Orlando isn't as expensive as other cities, it entered in the top 50 of the least affordable cities in the nation, ranking No.49 in RealtyHop’s monthly housing affordability index. A recent study found that Orlando rents are less affordable than San Francisco, when the average wage of residents is taken into account.
–
Stay on top of Central Florida news and views with our weekly newsletters, and consider supporting this free publication. Our small but mighty team is working tirelessly to bring you Central Florida news, and every little bit helps.
