MARKET SNAPSHOT

Orlando Q2 2025

AVERAGE RENT

$1,785 Q2 2025

OCCUPANCY RATE

92.9% Q2 2025

NET ABSORPTION

5,891 H1 2025

ANNUAL RENT CHANGE

-1.4% Q2 2025

ANNUAL OCCUPANCY CHANGE

-60 BPS Q2 2025

COMPLETIONS

7,577 H1 2025

KEY TAKEAWAYS
Orlando absorbed 2,444 units in Q2 2025, its third-strongest second quarter in a decade, but demand continues to lag new supply, keeping fundamentals soft.
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Deliveries reached 4,081 units in Q2 and 13,316 over the past year, though new starts have slowed sharply, signaling potential relief ahead.
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Rents fell 1.4% year over year, with Class A and B average rents declining and Class C holding flat. However, rent trends are expected to turn positive as the backlog of lease-up properties get filled.
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MARKET OUTLOOK

Orlando’s apartment fundamentals are beginning to stabilize. Rent growth is projected to return by Q3 2025, reaching 1.5% annually by Q1 2026, while occupancy is expected to hold near 92.9% in the near term...

Featured Florida Research Reports:

Matt Ledom - Senior Managing Director

Matt Ledom

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Jhamil Moore - Senior Advisor

Jhamil Moore

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Michael Barrett

Michael Barrett

Associate

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