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Market Report

Orlando Multifamily Market Report

1Q 2021

Tourism to Return Spurring Job Growth and Rental Demand Amid Heightened Delivery Pace

Employment and population gains generate need for apartments. As vaccinations become widespread throughout the nation, people will begin to venture farther from home and Orlando is sure to be the destination of more visitors this year. As additional businesses as well as hospitality and entertainment venues fully reopen and expand staffs, workers who moved in with friends or family to save on expenses will seek their own accommodations. The metro will also benefit from the expected addition of nearly 40,500 people during 2021, growing the population by 1.5 percent. Meanwhile, the median home price soared 13.8 percent to $322,000 last year. This surge, coupled with a shortage of for-sale single-family inventory, will direct many of these residents into apartments.
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