The Orlando market is still considered one of the hottest real estate markets in the U.S. In 2022, the Orlando real estate market was characterized by several positive trends, such as robust population growth, abundant employment opportunities, and a thriving rental market—all of which are still present today.
Although Orlando homes are not selling as fast as last year, and median home prices have since stabilized, the Orlando housing market continues to grow and remains promising for investors. Orlando's ongoing technological and tourism achievements strengthen positive outlooks on the metro area's real estate.
In this article, we'll discuss why Orlando is an excellent place to invest, data supporting these claims, and what you can expect from the Orlando real estate market for the rest of the year.
Why is Orlando Appealing to Real Estate Investors?
Investing in Orlando real estate is attractive to property investors due largely to the city's strong rental market. Over 60% of the population in Orlando rents, providing investors an opportunity to capitalize on long-term, mid-term, and short-term rentals. With Orlando's metro area population increasing by almost 2% yearly, the city's rental market shows no signs of slowing down. Let's take a closer look at why that is so.
Warm Weather
Nicknamed "The City Beautiful," Orlando truly is a visually appealing city to live in. Home to more than 100 lakes, multiple amusement parks, and pleasant weather year-round, it's an attractive destination for young professionals, retirees, vacationers, and everyone.
Strong Jobs Market
The Orlando metro area is home to over 150 international companies representing approximately 20 countries. As a major industrial and hi-tech center, the city employs thousands of people yearly, which may help explain the fast rate at which the city's population grows. Orlando is also home to several top-rated universities and colleges, such as the University of Central Florida and Rollins College, creating a steady rental demand among students.
Major Tourism Capital
The presence of Disney World, Universal Orlando, Sea World, and other amusement parks has turned Orlando into the world's theme park capital. Every year the city draws in millions of visitors. In 2022 alone, 74 million people visited Orlando, making it the #1 travel destination in the U.S. In addition to visiting theme parks, visitors also travel to Orlando for sports events and business conventions. These trends significantly benefit real estate investors interested in hosting short-term rentals.
Source: https://www.propstream.com/news/why-is-orlandos-housing-market-one-of-the-top-markets-of-2023?gad_source=1&gclid=Cj0KCQiAm4WsBhCiARIsAEJIEzVVyqHMX8jmC7ayjC2gAjU91jTr2Jma95rC3pF7H0MpPvKHiFsNoWkaAi4iEALw_wcB
