Monday, August 17, 2020

Orlando Metro Apartment Construction Dropping by 18% Compared to Last Year




Santa Barbara, CA --
RENTCafé’s Apartment Construction Report is out with the latest data on multifamily development.

Nationwide, apartment construction is in its second consecutive year of decline after peaking in 2018. This year, an estimated 283,000 new units are expected to hit the market, 12% less than in 2019, according to Daniel Coste, Communications Specialist at RENTCafé.




Orlando Metro highlights:

  • Orlando Metro area is set to see an 18% drop in apartment construction compared to last year. It’s one of the thirteen major metros that witness decreases in apartment development.
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  • 5,617 new units are projected to be completed by the end of the year, with the metro ranking 16th nationally. Last year, 6,856 apartments were built in the area.
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  • 1,292 new units have already been completed in the City of Orlando in the first half of the year. The city ranks once again in the lower half of the top —14th out of 20. 

Contact:

Daniel Coste
Communications Specialist | RENTCafé
daniel.rentcafe@yardi.com | www.rentcafe.com

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