Over 80% rent growth in Orlando

More than 80% rent growth in Orlando

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."


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