People are flocking to Southeastern United States, especially Florida. Beautiful cities such as Orlando, Tampa, Jacksonville, and Miami, are reaping the benefits. The multifamily housing and senior communities are consistently having stellar performances. This is expected to continue in our robust market.
“Multifamily and Senior/Assisted Living have been two of the hottest markets for proposal activity for quite some time, not only among the Housing submarkets, but throughout all 58 submarkets,” says PSMJ’s Greg Hart, a consultant who also oversees the QMF. “It is remarkable that both have seen such steady proposal growth for so long. Very few submarkets have been this consistently strong throughout the 16-year history of our survey.”
Central Florida is a great place to live and play. Which is why apartment construction is booming, along with the rise in rent. Orlando Weekly explains:
The online apartment finding service Apartment List crunched the numbers for its August “Rent Report.” The survey of private listing data found Orlando rents are up 2.4 percent from the same time last year, and crept up 0.2 percent over just the last month.
The report calculated Orlando median rents at $1,092 for a one-bedroom apartment and $1,308 for a two-bedroom. It’s not San Francisco – where the median for a two-bedroom is $3,130 a month – but it is the sixth straight month of rent increases for the City Beautiful.
The $1,308 Orlando median is above the national average of $1,191, by the way, but Orlando’s rent-increase percentage tops the state average of 1.5 percent and the national average of 1.6 percent.
SWET Construction Group has played a big role in the process. Bridging the gap between visualizing a concept and making the project reality, with cohesive spaces, rooms and designs that flow together both aesthetically and functionally. Whether it’s a new construction or renovation, we make the experience enjoyable by taking you through the process of building and designing, to ensure your project has the look and feel you imagine.
We encourage you to contact SWET Construction Group to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project.