Orlando Multifamily Report – December 2025
While rents are slipping, occupancy is on the rise in Central Florida.
Orlando’s fundamentals remained resilient at the start of the fourth quarter. The metro’s average advertised asking rents ticked down 40 basis points on a trailing three-month basis through October, to $1,763, lagging the U.S. figure by 20 basis points. Orlando’s occupancy rate settled at 94.5 percent as of September, up 30 basis points year-over-year, despite 30,000 units being added in the past two years. The figure was below the 94.7 percent national average.
Orlando’s employment growth was at 1.7 percent year-over-year through August, more than double the 0.8 percent U.S. figure. Over the 12-month period through August, the metro added 19,000 net jobs. The leisure and hospitality sector remained one of the metro’s top performers, with 5,800 positions gained. The Orange County Convention Center’s $560 million Grand Concourse expansion moved forward in September. Site work was approved and construction is expected to begin in 2026. The project will include a 100,000-square-foot ballroom and 440,000 square feet of meeting space.
More than 11,800 units, or 4.0 percent of existing inventory, came online in 2025 through October. Developers had close to 20,000 units under construction, with an additional 135,000 units in the planning and permitting stages. Investment regained momentum, with $1.9 billion in assets trading, already exceeding 2024’s total.
