Orlando Retail Market Report

Housing development to support spending. Over the next five years, Orlando is projected to add more than 135,000 new households as in-migration to the market remains strong. Not only will this be the largest addition among Florida's six major markets, but that tally will more than double gains seen in Miami, Fort Lauderdale and Jacksonville during the span. These new local households are set to provide spending momentum that will ultimately power tenant demand for available retail space. Areas with sizable apartment construction pipelines should be positioned to capture an outsized share of household formation. As of May, Kissimmee-Osceola County had the most rentals under construction in the market, at nearly 5,600 units. Ocoee-Winter Garden-Clermont and South Orange County also each had more than 4,000 apartments underway.