The Average Rent in Orlando
With an impressive population of 287,435, Orlando is a hotspot for tourists and residents alike. Nestled in Orange County, the “City Beautiful”, year-round sunny rocks, 100 lakes, 12 theme parks and various professional sports teams.
The city has plenty of hospitality, retail, and manufacturing jobs to boot. Prospective residents shouldn’t forget the arts as Orlando is also home to the Dr. Phillips Center for the Performing Arts, numerous galleries, and the Orlando Museum of Art.
There is no doubt that living in Orlando has its share of perks. Find out more about the average rent and the best areas in Orlando to meet your needs and budget below.
What’s the average rent in Orlando?
It’s no mystery why a city filled with culture, entertainment, and world-class golf is decently priced. The average rent for a one-bedroom apartment is around $ 1,466 per month. If you think that sounds steep, know that the average Orlando rent is $ 132 cheaper than the national average of $ 1,598. The city’s average rent is actually down over 4% from last year, so it’s a great time to find Orlando apartments on the market.
On another positive note, the US Census Bureau found that 76.8 percent of Orlando residents stayed in the same home as last year. Further proof that once you settle in Orlando, you’ll consider staying for the long haul.
How much do i have to earn to live in Orlando?
Rent is just the starting point. You have to eat, right? That’s why financial experts recommend not to exceed 30% of your income before housing tax.
To break it down, you would need to earn around $ 58,640 to afford a one-bedroom apartment in Orlando and still have the wiggle room for other expenses.
You can also use our handy rent calculator to work out the numbers and figure out how much you can afford.
The cost of living in Orlando
Once you’ve calculated your housing budget, it’s a good idea to compare the cost of living to the national average.
Fortunately, the cost of living index averages the prices of daily items in each city for everything from bread to toothpaste. And good news: the overall cost of living index in Orlando is 93.9, or 6.1% below the national average.
Here’s how common life categories compare nationally.
- Housing: The cost of housing in Orlando is 11.3 percent lower than the national average.
- Miscellaneous goods and services: The cost of miscellaneous goods and services in Orlando is 9% lower than the national average.
- Health care: The cost of health care in Orlando is 5.9% lower than the national average.
- Utilities: The cost of utilities in Orlando is 2.7% lower than the national average.
- Transport: The cost of transportation in Orlando is 2% higher than the national average.
- Groceries: The cost of shopping in Orlando is 3.7% higher than the national average.
This list will help you budget for your new life in Orlando. Since so many of these broad categories are below the national average, you might have room in your housing budget to splurge.
Orlando’s most and cheapest neighborhoods
“The Happiest Place on Earth” has something for everyone. Whether you’re looking for a three-bedroom apartment with upscale architecture, scenic views of Lake Nona, or looking to save money with a studio in scenic Engelwood Park, Orlando has apartments ready to be picked.
As for the more and less expensive areas of Orlando, remember, the closer the views of downtown and the lake are, the higher the price. Rental prices also tend to increase closer to the business district due to the convenience of getting to work and the growing labor market.
Proximity to parks and the University of Orlando in Central Florida also come into play. Take Winter Park, located near the school. It attracts a mix of residents of various ages. Here you can find rental prices ranging from the medium to the high end. Some upscale neighborhoods like Baldwin Park are known for their spacious apartments and resort lifestyle, driving up housing costs.
At the same time, some low-rent Orlando neighborhoods, like Rosemont, offer quiet streets lined with single-family homes, townhouses, and apartment complexes with first-class maintenance and lagoon pools. But residents also cite schools that rank lower than the neighborhoods above and a lack of recreation spaces and modern architecture.
The most expensive neighborhoods in Orlando
It’s no coincidence that three of Orlando’s five most expensive neighborhoods have “Lake” in their names. After all, those water views add to the price and the scenery.
Northlake Park at Nona Lake East is one of Orlando’s top living destinations. It’s also the most expensive, topping the list at $ 2,479 for a one-bedroom apartment. That’s over $ 1,000 more than the average Orlando rent for a one-bedroom apartment.
Why the high price?
For starters, this 500-acre Orlando neighborhood is home to the Lake Nona Golf & Country Club, parks, ponds, and of course, lakes. Conveniently located east of 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 is also one of the more expensive neighborhoods in Orlando. Unlike Northlake Park, South Eola has fallen just over 9% in rent compared to last year. An average one-bedroom apartment now costs around $ 1,900.
Trendy with cocktail bars and sleek architecture, this neighborhood is full of creative spaces, catering to art lovers and young professionals. Venture to Break!, home to the works of over 100 internationally renowned photographers, then stroll through Lake Eola Park to see swan boats, flower beds and the beautiful Orlando skyline.
Established retirees also find South Eola a lovely place to call home.
Cheapest neighborhoods in Orlando
One of the cheapest neighborhoods in Orlando is Winter Park, which has an average price for a bedroom of $ 1,022, an 8% increase from last year’s rent. Rumors are spreading about this quaint neighborhood, known for all it takes for the 4th of July celebrations and its proximity to Full Sail University. For reasonable rent, this gated community – with pristine pools and a fitness center – is a steal.
Engelwood Park is also one of the cheapest areas in Orlando. With a room worth an average of $ 1,065, a median age of 50, and nearly 10,000 residents, you won’t find a shortage of comfortable studios and villas that appeal to working families and singles.
Outdoor enthusiasts and foodies shouldn’t overlook Lake Frederica, where community recreation spaces and variety of restaurants are the norm. At an average of $ 1,146 for a one-bedroom apartment, Lake Frederica is worth a look in your Orlando apartment search.
Average Rent Prices in Orlando Neighborhoods
See the table below for Orlando rentals in these other popular areas.
Find your Orlando neighborhood
With so many housing options, a diverse workforce, and an abundance of entertainment options, Orlando is a fun and trendy place to plant new roots. With so many family and manicured quarters available, you are bound to find a future home that meets all of your wants and needs.
Whether you’re looking for an upscale three-bedroom apartment near the golf course or a studio near downtown, Orlando has it all.
Rental prices are based on a moving weighted average of Rent.com’s Apartment Guide and Multi-Family Rental Inventory for one-bedroom apartments. The data was pulled in February 2021 and is one year old. We use a weighted average formula that more accurately represents the price availability for each individual unit type and reduces the influence of seasonality on rental prices in specific markets.
Neighborhoods with insufficient inventory were excluded.
Data on the cost of living come from the Community and Economic Research Council.
The rental information included in this article is used for illustration purposes only. The data contained in this document does not constitute financial advice or a price guarantee for any apartment.
