Orlando, FL Rental Market Trends

Orlando Rent Report: November 2024

Welcome to the Apartment List November 2024 Rent Report for Orlando, FL. Currently, the overall median rent in the city stands at $1,564, after falling 1.2% last month. Prices are now down 1.3% year-over-year. Read on to learn more about what’s been happening in the Orlando rental market and how it compares to trends throughout the broader Orlando metro area and the nation as a whole.

Orlando rents are down 1.2% month-over-month and down 1.3% year-over-year

The median rent in Orlando fell by 1.2% over the course of October, and has now decreased by a total of 1.3% over the past 12 months. Orlando’s rent growth over the past year has is similar to both the state (-1.9%) and national averages (-0.7%).

Orlando rent growth in 2024 pacing above last year

Ten months into the year, rents in Orlando have risen 0.3%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to October 2023 rents had decreased 2.0%.

October rent growth in Orlando ranked #76 among large U.S. cities

Orlando rents went down 1.2% in the past month, compared to the national rate of -0.7%. Among the nation's 100 largest cities, this ranks #76. Similar monthly rent growth took place in Seattle, WA (-1.1%) and Columbus, OH (-1.2%).

Orlando is the #39 most expensive large city in the U.S., with a median rent of $1,564

Citywide, the median rent currently stands at $1,333 for a 1-bedroom apartment and $1,656 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,564. That ranks #39 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,225 for a 1-bedroom, $1,380 for a 2-bedroom, and $1,394 overall. The median rent in Orlando is 12.2% higher than the national, and is similar to the prices you would find in Portland, OR ($1,570) and Tampa, FL ($1,564).

Orlando rents are 0.7% higher than the metro-wide median

If we expand our view to the wider Orlando metro area, the median rent is $1,553 meaning that the median price in Orlando proper ($1,564) is 0.7% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -2.2%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 10 cities in the Orlando metro area that are included in our database. Among them, Maitland is currently the most expensive, with a median rent of $1,806. Casselberry is the metro’s most affordable city, with a median rent of $1,355. The metro's fastest annual rent growth is occurring in Alafaya (-0.9%) while the slowest is in Four Corners (-7.3%).

City
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Alafaya
$1,572
$1,701
-1.4%
-0.9%
Altamonte Springs
$1,356
$1,582
-1.1%
-2.1%
Casselberry
$1,185
$1,384
-0.9%
-4.2%
Celebration
$1,432
$2,017
-0.7%
-1.5%
Four Corners
$1,228
$1,545
-2.2%
-7.3%
Kissimmee
$1,142
$1,410
-1.2%
-1.9%
Maitland
$1,713
$1,866
-0.3%
-1.6%
Orlando
$1,333
$1,656
-1.2%
-1.3%
Sanford
$1,238
$1,308
-0.8%
-2.5%
Winter Springs
$1,309
$1,497
-4.1%
-3.3%
See More

You can also use the map below to explore the latest rent trends in the Orlando metropolitan area.

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

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