Central Florida Multifamily Market is on the Rise

Posted By: Amanda Gill AAGO Community ,

In case you missed AAGO’s sold out Dinner Meeting on May 17th, we wanted to share a few highlights regarding the state of the central Florida multifamily market.

The panel discussion at the Dinner Meeting featured esteemed leaders in the industry, including:

  • Moderator: Luke Wickham, Senior Vice President, CBRE
  • Panelist: Ricardo Alicea, Senior Vice President, The Bainbridge Companies
  • Panelist: Tracy Bowers, Managing Director, Matrix Residential
  • Panelist: Melissa Cannata, Vice President, Carroll Management
  • Panelist: Michael Moses, CEO and Chairman, Michaelson Real Estate Group

 During AAGO’s annual State of the Market, all of the panelists confirmed the central Florida multifamily market will remain a strong in 2017 and beyond. It should come as no surprise that Orlando is currently leading the nation in population growth, rent growth, and job growth. The industry is working to keep up with population growth by developing additional housing units, with nearly 6,000 apartment homes currently under construction. In addition to new constructions, many properties are undergoing complete or partial renovations to increase rent growth.

While the central Florida multifamily housing market remains strong, challenges with affordability remain. At this time, the average rent in central Florida is $1,100 per door. In light of rising rents, local governments are heightening their focus on affordability policies. During an open response poll conducted at the event, participants confirmed this challenge and cited housing affordability as one of their most prevalent concerns.

There’s no doubt it is an exciting time to be part of the multifamily industry in central Florida. Don’t forget to stay abreast of the latest industry news and trends by staying connected with AAGO. Visit www.AAGO.org for a list of upcoming event and opportunities to get involved today.