Orlando’s multifamily market poised for a 2025 of solid performance

Orlando’s multifamily market saw a resurgence of demand in 2024. Net absorption doubled compared to the prior year, leaving supply and demand in the closest state of balance since 2017. In the last 12 months, the multifamily sector has also outperformed all peer markets in Florida for demand and ranked ahead of several gateway markets including Washington, D.C., Los Angeles, and Chicago. Improving demand should boost rent growth prospects in the near term, and rent growth is forecast to turn positive for the first time in two years by the end of the second quarter.