Construction cranes are not the only things happening in the midst of Orlando's boom.
In 2019, the Orlando residents spent $$ 4.6 billion on rent, an increase of 83.9% compared to what city tenants spent in 2010, according to Zillow. That puts Orlando in the number 5 position for the highest rent increase in the country this decade.
Overall, Austin, Raleigh, and Denver had the largest rent increases in the 2010s, while Memphis, New Orleans, and Virginia Beach had the smallest. No metro saw rent decrease during the decade, although seven saw rent declines last year. Check out the gallery with this story to see how much rent increased in the 50 largest metros in the US.
Nationwide, renters spent US $ 4.5 trillion in rent during the years 2010, with US $ 512 billion in rent in 2019. Although rent is up 2.3% over last year, rent increases have slowed over the last part of the decade, according to Zillow.
"While the total amount of rent paid has increased each year this decade, that trend is not immutable," said Zillow Group economist Joshua Clark. "With rent appreciation expected to slow next year and a rate of homeowners rising in recent years, a small or even negative change in total rental spending could occur in the cards by early 2020."
Some error has occured.
I have other questions! Who to talk to?
Now that you know a little more about The growth of rentals in Orlando you can already consider an investment. To take advantage of all the tips we've brought you and go even deeper, you can talk directly to our relationship agents. They are always willing to talk with you to answer questions about sightseeing, living and investing in Florida.
In this text we address the theme The growth of rentals in Orlando for being interesting for those who are looking for invest or live in Florida. If you want to read more content like what we've brought in this article, just stay tuned here at our blog.
Did you like the article? Keep an eye on our blog! Wanting to live or invest in Florida real estate? See the list of houses for sale in florida that we have selected for you!