Orlando’s multifamily housing market is entering a new phase of opportunity, as record-setting population and job growth fuel sustained housing demand. Greater Orlando’s population climbed from 2.67 million in 2020 to 2.94 million by mid-2024, adding 76,000 residents in the past year alone. In addition to earning the metro area the title of fastest-growing large U.S. metro by percentage, this shift in the housing market is also influenced by the labor market expanding more than 38% since 2020, supported by economic diversification into healthcare, professional services, life sciences, and technology, alongside wage growth that peaked at 9.85% year-over-year in early 2025.
While multifamily deliveries peaked in the first half of 2024 with 12,000 new units following a sharp rise in construction activity over the past two years, Class A absorption has kept pace, driving occupancy to between 93 and 95%. Housing permits are down 22% from their 2021 peak, signaling a tightening pipeline and strengthening landlord leverage in the years ahead. With homeownership costs elevated due to high mortgage rates and insurance premiums, demand for rental housing remains robust. For investors, Orlando’s multifamily housing market offers a rare window to enter a resilient, high-growth market before rent growth rebounds in 2027.
