MARKET SNAPSHOT

Orlando Q3 2025

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AVERAGE RENT

$1,748 Q3 2025

OCCUPANCY RATE

92.2% Q3 2025

NET ABSORPTION

8,159 YTD Q3 2025

ANNUAL RENT CHANGE

-1.5% Q3 2025

ANNUAL OCCUPANCY CHANGE

-90 BPS Q3 2025

UNIT COMPLETIONS

10,890 YTD Q3 2025

KEY TAKEAWAYS

Renter demand is broadly healthy, with Q3 among the strongest in the past decade. Momentum is visible across many submarkets as steady in-migration keeps leasing activity resilient.

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New supply remains a headwind but is beginning to ease. The construction pipeline has receded to 4.8% of the market’s base inventory—the lowest level since early 2016, but still above the national benchmark of 2.6%.

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Rent trends are in a late-cycle reset, with year-over-year declines remaining and continued use of concessions. As construction slows and lease-ups mature, rent trends should firm and gradually improve into 2026.

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MARKET OUTLOOK

Orlando enters the tail end of 2025 on firmer footing, with demand remaining elevated and broad-based, and the construction wave clearly past its peak...

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