Orlando, FL Multifamily Market Report | Cushman & Wakefield | Q4 2025

Market Overview

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Orlando delivered 11,144 multifamily units in 2025, the lowest volume since the current development boom began in 2020, yet the cumulative weight of more than 61,000 units delivered since that year continued to pressure fundamentals. Stabilized occupancy fell 100 basis points year-over-year to 91.7%, the lowest level recorded since Q1 2011. Net absorption totaled 8,402 units for the year, a 30.4% decline from 2024, with I-Drive Orlando and Northwest Orlando leading demand at 1,947 and 1,577 units respectively. Effective rent declined 1.3% annually to $1,753 per unit across all asset types. The forward picture is more constructive: the active pipeline of 11,367 units marks the lowest construction volume of the current cycle, Orlando's population surpassed 3 million in 2025, and median household income rose 3.8%. As deliveries continue to taper, the market is positioned for gradual occupancy and rent stabilization.

‍About Cushman & Wakefield

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Cushman & Wakefield is a global commercial real estate services firm with approximately 52,000 employees across 60 countries and $9.4 billion in revenue. Their Orlando Q4 2025 multifamily MarketBeat covers stabilized occupancy, effective rents, net absorption, and construction activity across 13 submarkets to help owners and investors evaluate Central Florida market conditions. To read the full report, click here.