How Is The Real Estate Market In ORLANDO, FL?
By Guy Burkholder
Published: Dec 14, 2022
Orlando is a city in the U.S. state of Florida and the county seat of Orange County. With a population of around 308,000, the city is renowned for its numerous tourist attractions, flavorful dining scene, mega outlet shopping malls, outdoor recreation, and rich history.
Orlando, FL, in the heart of the Sunshine State, offers its residents and visitors one-of-a-kind experiences, starting with the multiple themed parks available and ending with the renowned golf courses.
The city of Orlando beckons around 60 million visitors every year that come to the region to enjoy the warm climate, the world-famous theme parks, the shopping malls, and the vibrant nightlife.
Orlando, FL, is a great place to visit and an excellent place to live. It offers its residents an exciting mixture of urban and suburban living. Also, the city has a lot to offer to young professionals.
Due to the booming tourism industry, the economy is steady, offering jobs in different fields such as hospitality, digital media, aerospace, software design, engineering, and many more.
Let's see the real estate market in the city and some of its attractions.
Orlando, FL, real estate market
The Orlando, FL, real estate market is quite competitive, scoring 70 out of 100. In October 2022, home prices were up 9.8% compared to last year, selling for a median price of $360K. The average sale price per square foot in Orlando is $220, up 12.2% since last year.
Still, the prices are lower than the state and national average, which makes the city an affordable place to live in compared to other locations.
Orlando, FL, real estate market will continue the trend of the last three years as a strong sellers’ market. There’s a limited supply of homes in the city, compelling the buyers to compete, resulting in higher prices and possibly quicker sales that benefit the sellers.
The average home rental is around $1,597 compared to the national average of $1,326 a month. The difference is reflected in the multiple facilities that the city has to offer, such as the competitive job market, countless attractions, and the affordable cost of living.
One of the most significant advantages of living in Orlando, FL, is the reasonable cost of living. While the city has a score of 104.1 (compared to the national average of 100), it is essential to keep in mind that we’re talking about a major city. Many other cities in the U.S. with similar sizes and amenities have a higher living score index.
Orlando, FL, attractions
Orlando, FL, is best known for its renowned theme parks and abundant waterways like lakes and natural springs. It is also known for its music scene, leisure activities, and proximity to excellent state parks.
It is impossible to talk about Orlando without mentioning Walt Disney World, the complex of resorts and theme parks known as “ The Most Magical Place on Earth.” The complex hosts 60 million visitors annually who enjoy its unique attractions, quirks, and hidden corners.
Another beloved destination is Universal Orlando. It welcomes its visitors into a world where movies come to life, offering rides that simulate the studio’s most significant productions.
The city also provides vibrant night entertainment. From the numerous high-end restaurants to the many dueling piano bars and karaoke spots, the city never runs out of exciting things to do.
Day or night, the city will offer many activities that will keep you entertained and make you come back for more.
If you are interested in buying, renting, or selling a house in Orlando, FL, don’t hesitate to contact me directly. I will be happy to provide you with all there is to know about this diverse, unique city.