Although average occupancy in the Orlando metropolitan arearemains just above 90%, average rents are forecast to fall to aslow as $800 per month after sliding at least 3% over the past year,according to various brokerage research reports. Offers on newleases, such as one to two months free rent, are commonplace amongthe 185,000 apartments in local inventory.

"It's still a very competitive leasing environment," SheltonGranade, senior vice president with CB Richard Ellis in Orlando,tells GlobeSt.com. Concessions remain prevalent in most submarkets,though they declined through the latter half of 2009, he says.

Orlando is forecast to gain 8,000 new jobs through thisyear--and more than 161,000 over the next five years--after losing48,000 positions last year, according to CBRE and MPF Research.Rents are forecast to hold steady through the balance of 2010,followed by a 13% increase to $923 by 2014.