Swelling Pipeline Tempers Rent Growth
Orlando’s fundamentals remained resilient at the start of the fourth quarter, according to the latest Yardi Matrix Orlando multifamily market report. 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% 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% national average, as per the U.S. multifamily outlook.
Orlando’s employment growth was at 1.7% year-over-year through August, more than double the 0.8% 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% of existing inventory, came online year-to-date 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.
Read the full Yardi Matrix Orlando Multifamily Market Report: December 2025
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