Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 309,154 people, 118,834 houses or apartments, and a median cost of homes of $341,435, Orlando real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Orlando, accounting for 48.28% of the city's housing units. Other types of housing that are prevalent in Orlando include single-family detached homes ( 32.69%), row houses and other attached homes ( 9.64%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.08%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Orlando primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Orlando has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Orlando built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Orlando built between 2000 and later ( 34.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.25%). There's also some housing in Orlando built before 1939 ( 2.78%).
Vacant housing appears to be an issue in Orlando. Fully 16.38% of the housing stock is classified as vacant. Left unchecked, vacant Orlando homes and apartments can be a drag on the real estate market, holding Orlando real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Orlando has experienced some of the highest home appreciation rates of any community in the nation. Orlando real estate appreciated 186.52% over the last ten years, which is an average annual home appreciation rate of 11.10%, putting Orlando in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Orlando definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Orlando that despite a nationwide downturn in the housing market, Orlando real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Orlando appreciation rates continue to be some of the highest in America, at 18.80%, which is higher than appreciation rates in 94.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Orlando. Orlando appreciation rates in the latest quarter were at 2.40%, which equates to an annual appreciation rate of 9.94%.
Importantly, this makes Orlando one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Orlando's latest annual appreciation rate is lower than 60% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Orlando differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orlando - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Orlando real estate investment or home purchase decisions.
High for Nation
Average for FL