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 $1,118 in 2016 according to the Census ACS survey.1 Average gross rent in Orlando was $1,125 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Orlando median and average rent data will be released in September of 2018.

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 (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Florida Median Gross Rent $1,086 +2.45% +11.04%
Orlando, FL Median Gross Rent $1,118 +3.14% +12.14%

Orlando, FL Real Gross Rent Trends

At $1,118, real median gross rent in Orlando was at its highest level in 2016 since the series began in 2005. Average gross rent for Orlando peaked in real terms in 2008 at $1,137 and is now $12 (1.06%) lower. From a recent low of 1018.0 in 2012, real average gross rent has now increased by $107 (10.51%).

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Orlando

Date US
Median
Florida
Median
Orlando, FL
Median
Orlando, FL
Average
2016 $981 $1,086 $1,118 $1,125
2015 $972 $1,060 $1,084 $1,103
2014 $942 $1,011 $1,044 $1,068
2013 $910 $978 $997 $1,024
2012 $898 $969 $996 $1,018
2011 $898 $979 $1,001 $1,020
2010 $912 $1,011 $1,042 $1,062
2009 $916 $1,036 $1,069 $1,095
2008 $932 $1,071 $1,104 $1,137
2007 $885 $1,038 $1,101 $1,125
2006 $895 $1,023 $1,084 $1,096
2005 $869 $966 $1,005 $1,022

Orlando Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Orlando Florida was 7.90% according to Census ACS data.

Rental Vacancy Rate in Orlando Florida

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Florida 8.30% +0.51% -0.92%
Orlando, FL 7.90% -0.29% -2.96%

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 6.76% to 7.90%. Data records for this series originated in 2005.

Rental Vacancy Rate: Orlando FL, Florida, US

Rental vacancy rate in Florida

Historical Rental Vacancy Rate data for Orlando

Date US Florida Orlando, FL
2016 5.89% 8.30% 7.90%
2015 5.85% 7.79% 8.19%
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 25.61% in 2016 according to the ACS.

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

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Florida 25.62% +0.23% +0.29%
Orlando, FL 25.61% +0.47% +0.29%

Trends in Orlando, FL Rent as a Fraction of Income

The fraction of median Orlando household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 25.73%. Since then it has fallen by 0.12% to 25.61%.

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

Percent of median household income going towards median monthly gross rent in Orlando Florida

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

Date US Florida Orlando, FL
2016 20.43% 25.62% 25.61%
2015 20.63% 25.40% 25.14%
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 2016 40.68% of households were renters according to Census ACS data.

Orlando Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Florida 35.87% -0.35% +0.66%
Orlando, FL 40.68% +0.28% +1.41%

Trends in the Orlando, FL Renter Fraction

At 40.68%, the 2016 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

Fraction of renters in Orlando

History of Orlando Renter Fraction

Date US Florida Orlando, FL
2016 36.88% 35.87% 40.68%
2015 36.97% 36.22% 40.40%
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.