Orlando Florida Residential Rent and Rental Statistics | Written by the DEPARTMENT OF NUMBERS

Orlando Florida Residential Rent and Rental Statistics

The median monthly gross residential rent in Orlando, FL (the Orlando-Kissimmee-Sanford metro area) was $1,035 in 2014 according to the Census ACS survey.¹ Average gross rent in Orlando was $1,059 in 2014. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2015 Orlando median and average rent data will be released in September of 2016.

Data is also available below for Orlando rental vacancy rates, Orlando rent as a percent of median income and the fraction of renters in Orlando.

Show dollars as: Nominal Real

Real Gross Rent in Orlando Florida (2014 dollars)²

	2014	1 Year Change	3 Year Change
US Median Gross Rent	$934	+3.43%	+4.83%
Florida Median Gross Rent	$1,003	+3.40%	+3.30%
Orlando, FL Median Gross Rent	$1,035	+4.76%	+4.33%

Orlando, FL Real Gross Rent Trends

Median gross rent for Orlando peaked in real terms in 2008 at $1,095 and is now $60 (5.48%) lower. From a recent low of 987.0 in 2012, real median gross rent has now increased by $48 (4.86%). Average gross rent for Orlando peaked in real terms in 2008 at $1,127 and is now $68 (6.03%) lower. From a recent low of 1010.0 in 2012, real average gross rent has now increased by $49 (4.85%).

Real Gross Rent in Orlando: Orlando FL Median, Orlando FL Average, Florida Median, US Median

Real Gross Rent History for Orlando

Date	US Median	Florida Median	Orlando, FL Median	Orlando, FL Average
2014	$934	$1,003	$1,035	$1,059
2013	$903	$970	$988	$1,015
2012	$891	$961	$987	$1,010
2011	$891	$971	$992	$1,012
2010	$905	$1,002	$1,033	$1,053
2009	$909	$1,028	$1,060	$1,086
2008	$924	$1,062	$1,095	$1,127
2007	$878	$1,029	$1,092	$1,116
2006	$887	$1,014	$1,075	$1,087
2005	$862	$958	$997	$1,014

Orlando Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.³ In 2014 the rental vacancy rate for Orlando Florida was 8.55% according to Census ACS data.

Rental Vacancy Rate in Orlando Florida

	2014	1 Year Change	3 Year Change
US	6.32%	-0.17%	-1.08%
Florida	8.66%	-0.56%	-2.25%
Orlando, FL	8.55%	-2.31%	-3.19%

Trends in Orlando, FL Rental Vacancy Rate

The rental vacancy rate in Orlando peaked in 2010 at 14.66%. Since then it has fallen by 6.11% to 8.55%. Data records for this series originated in 2005.

Rental Vacancy Rate: Orlando FL, Florida, US

Historical Rental Vacancy Rate data for Orlando

Date	US	Florida	Orlando, FL
2014	6.32%	8.66%	8.55%
2013	6.49%	9.22%	10.86%
2012	6.77%	9.37%	8.97%
2011	7.40%	10.91%	11.74%
2010	8.17%	12.17%	14.66%
2009	8.43%	13.16%	12.91%
2008	7.86%	12.67%	14.16%
2007	7.87%	11.55%	11.46%
2006	7.70%	8.32%	7.81%
2005	7.74%	7.72%	6.25%

Rent as a Fraction of Income

Using median household income data for Orlando, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Orlando, median monthly gross rent as a fraction of median household income was 25.73% in 2014according to the ACS.

Orlando Florida Median Annual Rent as a Fraction of Median Household Income

	2014	1 Year Change	3 Year Change
US	20.89%	+0.10%	+0.19%
Florida	25.36%	+0.02%	-0.35%
Orlando, FL	25.73%	+0.41%	+0.49%

Trends in Orlando, FL Rent as a Fraction of Income

Orlando renters paid 25.73% of median household income towards the median monthly gross rent in 2014. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Orlando FL, Florida, US

Historical Data for Annual Rent as a Fraction of Income in Orlando Florida

Date	US	Florida	Orlando, FL
2014	20.89%	25.36%	25.73%
2013	20.78%	25.34%	25.32%
2012	20.65%	25.42%	25.55%
2011	20.70%	25.71%	25.24%
2010	20.50%	25.59%	25.20%
2009	20.12%	25.54%	25.10%
2008	19.00%	23.79%	23.25%
2007	18.66%	23.22%	23.13%
2006	18.90%	23.00%	22.66%
2005	18.89%	22.88%	22.68%

Renter Fraction in Orlando Florida

You can calculate the renter fraction in Orlando in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Orlando as a fraction of total Orlando households. In 2014 40.27% of households were renters according to Census ACS data.

Orlando Fraction of Renters by Household Units

	2014	1 Year Change	3 Year Change
US	36.90%	+0.40%	+1.48%
Florida	35.95%	+0.74%	+2.67%
Orlando, FL	40.27%	+1.00%	+2.87%

Trends in the Orlando, FL Renter Fraction

At 40.27%, the 2014 household based renter fraction in Orlando was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Orlando FL, Florida, US

History of Orlando Renter Fraction

Date	US	Florida	Orlando, FL
2014	36.90%	35.95%	40.27%
2013	36.50%	35.21%	39.27%
2012	36.09%	34.36%	38.61%
2011	35.42%	33.28%	37.40%
2010	34.65%	31.85%	35.00%
2009	34.13%	31.52%	33.87%
2008	33.36%	30.33%	32.74%
2007	32.80%	29.39%	32.79%
2006	32.73%	29.72%	33.37%
2005	33.10%	30.43%	34.58%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩

2. Real dollars are calculated using the CPI-U less shelter series. ↩

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩