With an impressive population of 287,435, Orlando is a hotspot for tourists and residents alike. Nestled in Orange County, the "City Beautiful," rocks year-round sunny weather, 100 lakes, 12 amusement parks and various professional sports teams.
The city boasts numerous jobs in hospitality, retail and manufacturing to boot. Potential residents shouldn't forget the arts since Orlando also houses the Dr. Phillips Center for the Performing Arts, numerous galleries and the Orlando Museum of Art.
No doubt, living in Orlando comes with its share of perks. Discover more about the average rent and the best Orlando neighborhoods that fit your needs and budget below.
There's no mystery why a city jam-packed with culture, entertainment and world-class golf comes with a decent price tag. The average rent of a one-bedroom apartment hovers around $1,466 a month. If you think this sounds steep, you should know that Orlando's average rent is $132 cheaper than the national average of $1,598. The city's average rent actually decreased more than 4 percent from last year, so this is an excellent time to find Orlando apartments on the market.
On another positive note, the U.S Census Bureau found that 76.8 percent of Orlando residents stayed in the same house as last year. More proof that once you settle in Orlando, you'll consider sticking around for the long haul.
Rent is just the starting point. You've got to eat, right? That's why financial experts recommend forking over no more than 30 percent of your pre-tax income on housing.
To break it down, you'd need to make around $58,640 to afford a one-bedroom apartment in Orlando and still have the necessary breathing room for other expenses.
You can also use our handy rent calculator to crunch numbers and determine how much you can afford.
Once you've calculated your housing budget, it's a good idea to compare the cost of living to the national average.
Luckily, the cost-of-living index conveniently averages everyday item prices in each city for everything from bread to toothpaste. And good news: The overall cost-of-living index in Orlando is 93.9, 6.1 percent under the national average.
Here's how common living categories compare nationally.
This list will help you budget for your new life in Orlando. Since so many of these major categories fall below the national average, you might have room in your housing budget to splurge.
"The Happiest Place on Earth" has something for everyone. Whether you're seeking a three-bedroom apartment with upscale architecture, picturesque views at Lake Nona or looking to save cash with a studio in the quaint Engelwood Park, Orlando has apartments ripe for the picking.
When it comes to the most and least expensive neighborhoods in Orlando, remember, the closer to Downtown and lake views, the pricier. Rental prices also tend to increase closer to the business district due to the convenience of commuting to work and the growing job market.
The proximity to parks and Orlando's University of Central Florida come into play, too. Take Winter Park, situated close to the school. It attracts a mix of multi-aged residents. Here you can find rental prices ranging from average to the upper end. Some higher-end neighborhoods like Baldwin Park are known for spacious apartments and resort-style living, jacking up housing costs.
Simultaneously, some Orlando neighborhoods with lower rent, like Rosemont, offer quiet streets lined with single-family homes, townhouses and apartment complexes with top-class maintenance and lagoon pools. But residents also mention lower-ranked schools than the neighborhoods above and a lack of recreational spaces and modern architecture.
It's no coincidence that three out of Orlando's five most expensive neighborhoods have "Lake" in their names. After all, these watery views up the price and the scenery.
Northlake Park at Lake Nona East is one of Orlando's most desirable living destinations. It's also the most expensive, topping the list at $2,479 for a one-bedroom apartment. That's more than $1,000 bucks above Orlando's average rental for a one-bedroom apartment.
Why the hefty price tag?
For starters, this 500-acre Orlando neighborhood is home to the Lake Nona Golf & Country Club, parks, ponds and, of course, lakes. Conveniently situated East of the Orlando International Airport, residents love the lush green space mixed with neoclassical architecture. (The mansions and top-notch medical center don't hurt either.)
South Eola also pops up among Orlando's most expensive neighborhoods. Unlike Northlake Park, South Eola dropped a little over 9 percent in rent from last year. An average one-bedroom apartment now costs around $1,900.
Hip with cocktail bars and sleek architecture, this neighborhood bustles with creative spaces, catering to art lovers and young professionals. Venture over to Snap!, which houses the works of more than 100 internationally known photographers, and then take a stroll at Lake Eola Park to view the swan boats, flower beds and gorgeous Orlando skyline.
Established retirees also find South Eola a charming place to call home.
|Rank||Neighborhood||Average 1-BR Rent Price||YoY Rent Price Change|
|1||Northlake Park at Lake Nona||$2,479.00||57.0%|
|10||Lake Nona South||$1,669.00||-0.5%|
One of the least expensive Orlando neighborhoods is Winter Park, which sports an average one-bedroom price tag of $1,022, an 8 percent increase from last year's rent. Word is catching on about this quaint neighborhood, known for going all out on 4th of July celebrations and its proximity to Full Sail University. For a reasonable rent, this gated community — complete with pristine pools and a fitness center — is a steal.
Engelwood Park is also one of the cheapest Orlando neighborhoods. With a one-bedroom averaging $1,065, a median age of 50 and close to 10,000 residents, you'll find no shortage of cozy studios and villas that appeal to working families and singles.
Outdoor enthusiasts and foodies shouldn't overlook Lake Frederica, where community recreational spaces and diverse restaurants are the norms. Averaging $1,146 for a one-bedroom apartment, Lake Frederica is worth a stop on your Orlando apartment search.
|Rank||Neighborhood||Average 1-BR Rent Price||YoY Rent Price Change|
|1||Summerlin at Winter Park||$1,022.00||8.3%|
Check out the chart below for the lowdown on Orlando's rentals in these other popular neighborhoods.
|Neighborhood||Average 1-BR Rent Price||YoY Rent Price Change|
|Colonial Town Center||$1,589.00||-4.1%|
|Florida Center North||$1,340.00||-6.0%|
|Lake Nona Central||$1,482.00||-5.4%|
|Lake Nona South||$1,669.00||-0.5%|
|Northlake Park at Lake Nona||$2,479.00||57.0%|
|Summerlin at Winter Park||$1,022.00||8.3%|
With so many housing options, a diverse workforce and entertainment galore, Orlando's a fun, hip place to plant new roots. With so many family-friendly, maintained neighborhoods available, you're bound to find a future home that checks off all of your wants and needs.
No matter if you're searching for an upscale three-bedroom apartment close to the golf course or a studio near Downtown, Orlando has it all.