Orlando, FL Multifamily Market Report | Cushman & Wakefield | Q1 2026

Market Overview

‍Orlando remained one of the most active markets nationally for new multifamily development in Q1 2026, though construction activity declined 34.1% year-over-year to its lowest volume since 2020, signaling an improving balance ahead. Total inventory reached 232,171 units following 9,505 deliveries over the trailing 12 months, expanding the region's inventory by 4.4%, while 11,007 units remained under construction. Deliveries during Q1 totaled 1,796 units, down 45.7% from the same period last year. Net absorption totaled 1,867 units year-to-date, with I-Drive Orlando (1,923 annual units) and Southwest Orlando (1,413 annual units) leading the region despite carrying the largest construction pipelines, a sign of resilient underlying demand. Stabilized occupancy declined 70 basis points year-over-year to 92.0%, though it rebounded slightly from the prior quarter. Average effective rents closed Q1 at $1,804 per unit, down 2.1% year-over-year, with declines recorded across all 13 submarkets as lower-tier apartments weighed on averages while higher-end product continued to lease up. Notable Q1 sales included Lake Betty Apartments (336 units, $64.6M) and Aria at Millenia (270 units, $46.8M).

‍About Cushman & Wakefield

‍Cushman & Wakefield is a leading global commercial real estate services firm with approximately 53,000 employees across more than 350 offices in nearly 60 countries, reporting $10.3 billion in revenue in 2025. Their quarterly Orlando Multifamily MarketBeat report tracks occupancy, absorption, effective rents, deliveries, and construction activity across 13 submarkets to help owners, developers, and investors assess market conditions and opportunities. To read the full report, click here.