Market Report
Orlando Multifamily Market Report
1Q 2026
Investment Appeal Strengthening in
Higher-Tier
Assets Amid Reemerging Rent Growth
Development patterns shifting across submarkets. Underpinned by the nation’s second-fastest rate of net in-migration in 2025, Orlando heads into 2026 on a solid footing. However, this growth is showing signs of decelerating. The metro also continues to contend with inventory expanding more than 20 percent over the past five years, one of 10 major markets facing such pressure. The longer-term outlook is promising, given that the number of units under construction by late 2025 fell to its lowest level since at least 2020. But submarkets such as Ocoee-Winter Garden-Clermont, South Orange County, and Kissimmee-Osceola County will still face notable supply pressure in the months ahead. In contrast, areas like the CBD and northwest Orlando maintain favorable positioning after seeing some of 2025’s largest vacancy declines and anticipate limited supply pressure in the coming years. Metrowide, the mean effective rent has posted progressively smaller year-over-year declines since 2022, and vacancy is poised to tighten in 2026 for a third consecutive year, signaling an imminent return to rent growth.
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