Orlando single-family home rents on the rise

Orlando’s real estate market remains red hot and it’s not just a surge in demand for homes to buy. Orlando’s rental market is also very competitive with central Florida seeing a significant shortage of affordable housing.

But new research suggests Orlando’s recent surge in rent for single-family homes lags behind the national average. According to a new report from CoreLogic, nationally, single-family rents rose by 4.3-percent year-over-year while Orlando saw just a 1.9-percent increase.

Nationally, the largest gains have been seen in high-end rental properties.

“As rising home prices persist, some prospective buyers are being priced out of the housing market, keeping many households as renters,” said Molly Boesel, principal economist at CoreLogic. “This demand for rentals will push down single-family rental vacancy rates and put further upward pressure on rent growth this year, especially as the economy continues to recover.”

To read CoreLogic’s Single-Family Rent Index report for yourself, click HERE.

Cox Media Group