Orlando rental properties have been raising prices at a very fast rate, with more developers and investors busy entering the market to cash in. Orlando was ranked as the 29th most expensive city out of 100 of the largest cities, according to a study by Zumper.
The median rental price for a one-bedroom apartment in Orlando is $1,270 for the month of June, an increase of 4.1% since May and a 15.5% increase year-to-year. The median cost of a two-bedroom apartment increased to $1,460 for the month of June, an increase of 3.5% since May and a 15% increase year-to-year according to the study.
Nationally, one-bedroom rent increased to an average of $1,198 in June, or a 1.1% increase from May. The national average two-bedroom rent increased to $1,436 in June, or a 1% from May. Orlando rents are rising faster than the national average right now.
According to the study, the median one-bedroom rent for Tampa is $1,140 ($1,380 for two-bedroom), with Jacksonville one-bedroom rent averaging $950 ($1,090 for two-bedroom) and Miami one-bedroom rent averaging $1,800 for June ($2,470 for two-bedroom). San Francisco tops the list at $3,490 per month for one-bedroom and $4,600 median rent for a two-bedroom.