A new report from Berkadia is expecting a "robust" year for Orlando's multifamily sector.
Starting with rents, the mortgage broker is forecasting effective rates to increase by 3.9 percent in 2025 to $1,802. That would place Orlando among the top three markets for rent growth nationally, according to Berkadia. It would also rank as the top-performing Florida region in that category.
Rent share per wallet in the city is expected to increase by 20 basis points to 27.5 percent. Also, occupancy is set to rise by 50 basis points to 93.8 percent.
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The strong performance in 2025 is anticipated to be fueled by Orlando's strong employment sector, which is expected to add 33,200 new jobs by December 2025, and in-migration outpacing move-outs, according to Berkadia. The city also projects to add 64,800 residents this year.
Additionally, "Major projects like the Walt Disney World Expansion, the Universal Studios Epic Universe, the Lake Nona Town Center, and the Orlando Magic Sports and Entertainment District are expected to add a combined 60,900 new jobs to the Orlando market once complete from 2025 to 2027," Berkadia wrote.
The one category that's expected to see a small slowdown is net absorption, with just over 10,800 units forecasted for 2025 compared with 11,787 last year. However, demand is still expected to outpace deliveries, which are projected to hit 10,053. In 2024, Berkadia noted the market saw "record-breaking demand."
"The highest concentration of deliveries of 3,000 units will be in the Kissimmee/Osceola County submarket," Berkadia said in anticipation of 2025.
"It is located south of all the major entertainment parks where jobs are plentiful."
The firm also has some sunny news for Jacksonville, predicting that occupancy in Florida's largest city will rise by 200 basis points before the end of 2025 thanks to leasing activity outpacing deliveries.
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