Though Still Above National Rate, Orlando Rent Growth Decelerates

After nine months of annual rent growth at or above the 6% mark, momentum in Orlando’s apartment market appears to be cooling. For the fifth month in a row, annual rent growth in Orlando decelerated  — though at 4.1% in January, it still stands well above the U.S. average of 3.4%. Rent growth hasn’t hit this current level since September 2017. Over the same period, occupancy has softened to stand at 95.9% in January. Rather than a point of concern, this softening indicates that the Orlando market is now exhibiting more typical behavior following the unusually strong apartment demand levels stemming from the 2017 hurricanes.