Co-own real estate report: Orlando, FL

It’s known as the theme park capital of the world, “The City Beautiful,” and home to the most magical place on Earth. It’s also the number one travel destination in the United States to boot. Of course, we are talking about Orlando, Florida, located in the center of the Sunshine State and what makes it the perfect place to co-own.

In 2022, nearly 74 million visitors came to Orlando, a 25% increase over 2021. These levels have now reached 98% of pre-pandemic (2019) levels. Orlando draws enormous crowds of domestic and international visitors from Canada, the UK, Brazil, Mexico, and Colombia.

Orlando is a hotspot for thrill seekers, sports fans, business travelers, families, and so much more. Why? A start would be its 233 sunny days per year, year-round average temperature of 72 degrees, thrilling theme parks, exciting sports teams, and world-class water parks.

While most people likely associate Orlando solely with theme parks and Disney attractions, its attractions extend beyond theme parks. The city has countless hidden gems beyond Disney, a thriving food scene, outdoor recreation, and unique local history. It’s safe to say that everyone can find something to do in Orlando.

Speaking of the thriving food scene, Orlando has 46 MICHELIN-rated restaurants. Orlando is also home to 17 James Beard Award-recognized chefs and culinary flavors from around the world.

As the most visited city in the United States, this destination is prepared to host millions of travelers every year, making it a perfect place to plant down permanent roots or co-buy a home to benefit from the steady stream of millions of visitors.

What makes Orlando attractive for co-buying

One of Orlando's biggest attractions is its year-round mild weather, which has long been a strong draw for tourists and residents alike. This allows most Orlando attractions to operate year-round. Thus, you can draw a steady stream of short-term renters year-round.

Learn more about some of the latest real estate statistics for Orlando below.

2.0% increase in median sale price year over year

69 / 100 or somewhat competitive housing market

$365,000 median home sale price

19 days on the market (on average) before the sale

98.3% sale-to-list price

Short-term rentals in Orlando

Short-term rental statistics for Orlando include:

72% occupancy rate on Airbnb

$200 average daily rate

$3,589 average monthly revenue on Airbnb (entire home)

78% are entire home rentals

$9,265 - properties with pools average more than $9K in extra revenue per year

Orlando is an increasingly popular short-term rental (STR) market. STR regulations and requirements vary by city, so please research or consult with local Orlando websites for additional information.

What to see around Orlando

Disney Springs

Formerly known as “Downtown Disney,” the outdoor shopping district was rebuilt to include a mix of restaurants from famous chefs, stores, themed dining experiences, entertainment, and plenty of Disney stores to buy souvenirs without shopping in the parks.

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The Mall at Millenia

Orlando’s Mall at Millenia has over 150 stores and restaurants ranging from luxe – like Gucci, Hermes, Chanel, and Louis Vuitton – to more ordinary retailers like H&M, Lululemon, and Sephora. There are also world-class dining options to enjoy after you work up an appetite from shopping all day. Captivating architecture, breathtaking glass ceilings, and one-of-a-kind art pieces surround the stores and restaurants.

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Park Avenue

Park Avenue, located in Winter Park, is the locals’ shopping, dining, and culture choice. The area is tree-lined and has a cobblestoned street boasting over 140 boutiques, museums, and sidewalk cafes. Also, special events, such as concerts, exotic car shows, fashion events, holiday festivals, or art shows, are held year-round.

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Old Town Kissimmee

South of the theme parks is a family-friendly entertainment complex designed to look like a classic Florida town. You can find brick-lined streets with restaurants, shops, and throwback attractions, such as a Ferris wheel and carousel. You can find various special events each weekend, like live music and car shows.

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Lake Eola Park

Lake Eola Park is a public park in downtown Orlando and is considered one of the city’s top ‘natural’ playgrounds. It’s an excellent spot for picnics, exercise, paddle boarding, or a quick escape from the concrete jungle. The 23-acre site has a nearly one-mile-long walkway around the lake’s edge, along with an amphitheater, playground, Chinese pagoda, and fountain.

Orlando

Nearby cities / attractions

• Tampa – 1 hour and 15 minutes
• Jacksonville – 2 hours
• West Palm Beach – 2.5 hours
• Fort Myers – 3 hours
• Miami – 3.5 hours

Orlando co-buy opportunities

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200 & 200 1/2 Hibiscus Court, Orlando, FL 32801

Asking price: $470,000

Estimated down payment: $94,000

Estimated mortgage: $2,712/month

Estimated rental revenue: $2,279/month 

21 N Hyer Ave., Or, FL 32801

Asking price: $775,000

Estimated down payment: $155,000

Estimated mortgage: $4,472/month

Estimated rental revenue: $3,601/month 

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605 Briercliff Dr., Orlando, FL 32806

Asking price: $615,000

Estimated down payment: $123,000

Estimated mortgage: $3,549/month

Estimated rental revenue: $6,292/month 

Sources:

Orlando Vacation and Airbnb Rental Data

Airbtics Airbnb Calculator

Orlando Housing Market Data

Nestment, Inc. does not guarantee and is in no way responsible for the accuracy of information provided in this blog post. All information is provided “AS IS” and with all faults. Data presented here may not reflect all real estate activity in the market.  While the information on this site is about legal and tax issues, it is not intended as legal or tax advice or as a substitute for the particularized advice of your own attorney and tax professional.

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