According to new reports, investing in Multi-Family Housing and Apartments in Florida is a great investment. A recent article in the Orlando Sentinel revealed, “Orlando apartment renters saw an average increase of about 8 percent in monthly rents during a 12-month period that ended in November, according to Yardi Matrix’s monthly survey of 124 markets. Moving forward, Orlando’s projected job and population growth is strong enough to drive competition among renters and keep rents increasing.”
The Orlando Sentinel article released the rent averages for areas around Central Florida for the third quarter of 2016.
The average rent for Orange, Seminole, Osceola and Lake counties during the third quarter was $1,175, according to CBRE.
The priciest spots? Near the University of Central Florida and Oviedo, where apartments, often rented by the room, average more than $1,600 monthly. Units are typically shared by as many as four students. Next to that, downtown Orlando, Celebration, Lake Buena Vista and Lake Nona set the highest marks for rent prices.
Baldwin Harbor, with its two resort-style pools, a designer fitness center and marketing materials laden with attractive models, recently added 483 apartments in the heart of Baldwin Park, with rates from $1,300 for one bedroom to $3,660 for three bedrooms. Elsewhere, the Lake Bryan area south of Orlando Vineland Premium Outlets is poised for about 1,200 new apartments; Lake Buena Vista, 604; and Lake Nona, about 600.
Being aware and planning for market fluctuation is vital to a successful project.
SWET Construction Group is a leader in the Multi-Family housing industry, including Hospitality, Senior Living, and Medical Building. Being aware and planning for market fluctuation is vital to a successful project. We pride ourselves in the ability to overcome any obstacles.
We offer complete interior and exterior finish packages to clients from new construction to rehab and remediation.
Contact SWET Construction Group for your next project the Southeastern United States.