Wanna rent? Prices in attractive, growing cities across the nation are continuing to climb, and Orlando – with its amazing weather and plentiful employment options – is no exception. And the most expensive Orlando neighborhoods are only becoming more so.
If you've been thinking about inking a lease in one of Orlando's most popular neighborhoods, you may want to get off the fence before you're priced out.
It wasn't too long ago that Downtown Orlando sort of shuttered up after the working stiffs headed home to their respective 'hoods, but those days are over for good. Now, there's so much to do downtown – from beautiful parks to a slew of restaurant, bar, shopping and cultural venue options that new apartments in and around the area continue to develop and build up.
So, too, does the rent, which has increased by 10.4 percent in the past year.
This neighborhood sits on the periphery of some of Orlando's coolest neighborhoods, including Lake Eola Heights, the Milk District and the Audubon Park Garden District, where a quick bike ride could get you to Eola General (and a follow-up picnic in Lake Eola Park) as easily as it could to a cold one on Sideward Brewing's brand-new patio.
Combine all that with a close-in downtown commute and you've got a recipe for rising rents. Rent in Colonial Town Center has gone up 9.6 percent from last year to now.
One of the city's rising-star neighborhoods, it's been a long time since commuters on the 417 have had a crane-free view of Lake Nona, where construction continues at a rapid click. Why? There's been an influx of employment options in the form of hospitals, medical schools, sports and performance institutes and more – and hundreds of local businesses are following suit to serve the 17-square-mile master-planned community.
Apartments here (minutes from the airport!) are hot and will continue to be so. Rents have risen 9.5 percent since 2018, but still remain in range of the city average. For now.
Another picturesque downtown-adjacent neighborhood, South Eola's apartments are surrounded by dozens of lovely walk-to destinations set amid charming, historic homes – Lake Eola Park among them. And for those who work downtown? You may even be able to walk to work. If not, a bicycle would absolutely suit!
How attractive is South Eola? Its average rent is actually higher than downtown's and has risen 9.5 percent in a year's time.
By far the most affordable of this selection of popular Orlando neighborhoods, Kirkman North is a well-located neighborhood for employees of (or frequent visitors to!) Universal Orlando Resort, as well as the I-Drive corridor. Just try to keep your out-of-town friends from visiting you when they find out you live minutes from the ICON Orlando, outlet shopping, the Millenia Mall and other desirable destinations.
Rents remain respectable, but they have climbed 9.3 percent.
We looked at all neighborhoods in Orlando with sufficient available inventory on Apartment Guide and Rent.com and compared the average price from March 2018 to March 2019 to find the neighborhoods with the highest percentage increase in one-bedroom apartment prices.
The current rent information included in this article is based on March 2019 multifamily rental property inventory on ApartmentGuide.com and Rent.com and is used for illustrative purposes only. The data contained herein does not constitute financial advice or a pricing guarantee for any apartment.