2020 Housing Market Overview
Orlando Real Estate Market 2020
On this page you'll learn about the Orlando, FL real estate market for 2020.
Orlando Real Estate Market Overview
Metro population:
2.6 M
Median household income:
$42,418
Unemployment rate:
2.9%
Median home price*:
$231,000
Median monthly rent*:
$1,486
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Interested in investing in the Orlando real estate market in 2020? On this page you’ll learn about the housing market forecast, trends and statistics to help you make that decision.
About Orlando
Orlando is the fourth largest city in the state of Florida and the 73rd largest city in the United States. Located in Florida’s “sun belt” region, this city is known for its warm climate, beautiful beaches, and even more so for its world famous amusement parks, entertainment, and attractions.
With a combined population of 2.6 million residents, Orlando’s real estate market is fueled by job seekers, baby boomer retirees, and students who want to live in a “cheap and cheerful” area that offers a high quality of living at a reasonable cost. For investors looking to invest in real estate, these are good signs.
This area has produced some impressive results for real estate investors already and this trend is likely to continue into 2020. To date, property prices are up, appreciation rates are increasing steadily, and the cost of living remains below the national average.
More Reasons To Love Orlando:
- Orlando sees more than 68 million visitors annually, making it the most visited tourist destination in the country.
- Rents grew by 2.5% in the last 12 months, which is higher than the national and state levels.
- Orlando is the fourth fastest growing city in the U.S. Its population has grown over 20% since the year 2010 and is expected to grow an additional 2.67% in 2020, which means the demand for housing is likely to increase.
- Amazon Fulfillment brought 4,000 jobs to Central Florida, making Orlando the current leader in job growth in the U.S.
- Orlando was recently named the “hottest” single-family real estate market among the 50 largest US metro areas (Ten-X Research’s quarterly report). According to the report, Orlando has been elevated to the nation’s top market position due to limited supply, rising home values, ample jobs and income growth, especially in the leisure/hospitality sector.
Orlando Housing Market Trends
Overview
Orlando Real Estate Market Trends & Forecast 2020
In this section, you’ll learn about the top factors that make Orlando one of the strongest real estate markets of 2020, including job growth, population growth, and equity growth potential. Explore Orlando’s housing market, population, and employment trends in the tabs to learn more.Data Sources:
- https://www.zillow.com/
- https://factfinder.census.gov/
- https://www.deptofnumbers.com/
- Real Wealth Network Property Team Data
Housing Market Trends
Orlando real estate prices are slightly less expensive than other U.S. markets today.
- In 2019, the median price of 3 bedroom single family homes in the Orlando metro area was $231,000. This is slightly above the national average of $222,000.
- In the neighborhoods where RWN members invest, the median price of 3 bedroom homes was $193,000 in 2019. This is 13% lower than the national average of $222,000.
- This shows us that property values in Orlando are slightly less expensive than many other U.S. markets today; in the neighborhoods where RWN members invest it’s still possible to get great deals.
In some Orlando neighborhoods it’s possible to generate monthly income.
- In 2019, the median monthly rent 3 bedroom homes in Orlando was $1,486, which is 0.64% of the purchase price of $221,000. This is slightly below the national purchase-to-rent ratio of 0.75%.
- In the neighborhoods where RWN members invest, the median monthly rent 3 bedroom homes was $1,300, which is 0.67% of the $193,000 purchase price.
- This shows us that it’s possible to generate solid monthly income in Orlando, especially in the neighborhoods where RWN members invest.
- Another important thing to consider: Orlando home prices are still below their pre-recession peak, which suggests that prices have not reached bubble levels and will continue to grow in the coming years. Given the growing population it’s likely that rents will continue to rise as well.
Orlando home values are appreciating at much faster than other U.S. cities.
- In 2012, the median price of 3 bedroom homes in Orlando was $110,000. This means that, in the last 7 years (2012 to 2019), 3 bedroom homes in Orlando have appreciated by over 110%. This is 99% higher than the national average of 55% during this period.
- This shows us that home values in Orlando are appreciating much more quickly than other markets across the nation today.
Orlando rents are also rising much faster than other cities.
- In 2012, the median rent of 3 bedroom homes in Orlando was $1,136. This means that, in the last 7 years (2012 to 2019), Orlando rents have appreciated by over 30% versus 37% nationwide.
- This shows us, home values and rents in Orlando are appreciating slightly slower than the national average. However, considering Orlando’s rapid population and job growth, it’s likely homes and rents will continue to appreciate at a healthy rate.
Population Trends
Orlando’s population has grown 252% faster than the national average since 2010.
- Since 2010 Orlando’s population has increased by more than 20%. During the same period the national population grew by only 5.76%.
- This shows us that Orlando’s population is growing 252% faster than the national average. This means that Orlando is experiencing population growth at a much faster rate than most other U.S. cities today.
Employment Trends
Orlando is creating jobs at twice the rate of the national average.
- In the past year, the number of jobs in Orlando has grown by nearly 4% versus the U.S. annual job growth rate of under 2%.
- This shows us that, in addition to rapid population growth, Orlando is also experiencing healthy job growth.
- Both of these factors combined should continue fueling demand for housing, which should keep sales elevated and drive further price gains in 2020 and beyond.
- In addition to low property taxes and insurance, there is no state income tax. Add warm weather and exceptional health care and you can see why so many companies are relocating to Orlando.
Conclusion
Orlando is Still Affordable & Cash is Flowing
- In the neighborhoods where RWN members invest, the median price of 3 bedroom homes was $193,000 in 2019. This is 13% lower than the national average of $222,000.
- In the neighborhoods where RWN members invest, the median monthly rent 3 bedroom homes was $1,300, which is 0.67% of the $193,000 purchase price.
- This shows us that property values in Orlando are more expensive than many other U.S. markets today, but in some neighborhoods it’s still possible to purchase affordable homes that’ll generate strong monthly cash flow.
Orlando Home Prices & Rents are Rising Quickly (with few signs of stopping)
- In the last 7 years (2012 to 2019), 3 bedroom homes in Orlando have appreciated by over 110%. This is 99% higher than the national average of 55% during this period.
- During the same period, Orlando rents have appreciated by over 31% versus 37% nationwide.
- This shows us that home values and rents in Orlando are appreciating much more quickly than other markets across the nation today. Considering Orlando’s rapid population and job growth, it’s likely this trend will continue moving forward.
Orlando is Growing Rapidly
- Since 2010, Orlando’s population has increased by more than 20%. During the same period the national population grew by only 5%.
- This shows us that Orlando’s population is growing 252% faster than the national average. This means, Orlando is experiencing population growth at a much faster rate than most other U.S. cities today.
Orlando is creating tons of jobs.
- In the past year, the number of jobs in Orlando has grown by nearly 4% versus the U.S. annual job growth rate of under 2%.
- This shows us that, in addition to rapid population growth, Orlando is also experiencing healthy job growth. Both of these factors combined should continue fueling demand for housing, which should keep sales elevated and drive further price gains in 2020 and beyond.
Major Employers in Orlando
Orlando Housing Market News
Property Teams
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Sample properties
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Member Relations
With a 5 year background in providing excellent customer service experiences, Mariah brings her skill and passion to Real Wealth Network as your member concierge. When she isn’t working to help meet your needs with RWN, you’ll likely find Mariah consumed in a good book, finding the next trail to run, or spending time with her friends and family.
Disclaimer: The information provided on this page is for educational purposes only. Real Wealth Network makes no warranty or representation as to the accuracy, completeness or reliability of this information. Please be advised that this content may contain errors, is subject to revision at all times, and should not be relied upon for any purpose. Under no circumstances shall Real Wealth Network be liable to you or anyone else for damage stemming from the use or misuse of this information.
