{"id":1004171975,"date":"2017-05-05T01:55:41","date_gmt":"2017-05-05T09:55:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004171975"},"modified":"2025-02-26T23:49:21","modified_gmt":"2025-02-27T07:49:21","slug":"tourism-sparks-orlandos-boom","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/","title":{"rendered":"Tourism Sparks Orlando\u2019s Boom"},"content":{"rendered":"<p>By\u00a0Robert Demeter<\/p>\n<div id=\"attachment_1004171977\" style=\"width: 410px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004171977\" data-attachment-id=\"1004171977\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/orlando-rent\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg\" data-orig-size=\"1339,560\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Alexandra Efrimov&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1491572859&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Orlando rent evolution, click to enlarge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg?w=1024\" class=\"wp-image-1004171977\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg\" alt=\"Orlando rent evolution, click to enlarge\" width=\"400\" height=\"167\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg 1339w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg?resize=300,125 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg?resize=768,321 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando-rent.jpg?resize=1024,428 1024w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><p id=\"caption-attachment-1004171977\" class=\"wp-caption-text\">Orlando rent evolution, click to enlarge<\/p><\/div>\n<p>Orlando\u2019s multifamily market is expanding rapidly as a result of its strengthening economic fundamentals. Its increasing population and employment make it one of the country\u2019s fastest-growing cities. The rental market benefits from an inflow of young professionals, which are drawn to affordable housing, a growing job base and a high quality of life.<\/p>\n<p>The city added 54,000 jobs in 2016, up 4 percent year-over-year\u2014a figure nearly twice the national average. Tourism remains Orlando\u2019s economic pillar: The leisure and hospitality segment created the most new jobs. However, other employment segments are seeing robust expansion, thanks to increasing economic diversification. For example, the education and health care and the construction sectors each added more than 10,000 jobs in 2016.<\/p>\n<p>Rapid economic expansion sparked a flurry of activity in the multifamily market. Construction is booming, with more than 7,000 multifamily units coming online in 2016 and 10,000 under construction. Supply was concentrated in the suburbs to the north and south of the city center. Investor demand is robust, with more than $2 billion in properties changing hands during each of the past two years. We expect strong demand for housing to persist, with rents rising 5.8 percent in 2017, though the amount of supply will temper growth to some extent.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/222-Orlando-Spring2017Outlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=222-Orlando-Spring2017Outlook\" target=\"_blank\" rel=\"noopener noreferrer\">Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The metro\u2019s multifamily market is expanding rapidly as a result of its strengthening economic fundamentals. Investor demand is robust, with more than $2 billion in properties changing hands during each of the past two years.<\/p>\n","protected":false},"author":49,"featured_media":1004171976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21808,21742,37795,1493],"tags":[],"class_list":["post-1004171975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-featured","category-latest","category-rc-occupancy","category-orlando"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tourism Sparks Orlando\u2019s Boom - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourism Sparks Orlando\u2019s Boom\" \/>\n<meta property=\"og:description\" content=\"The metro\u2019s multifamily market is expanding rapidly as a result of its strengthening economic fundamentals. Investor demand is robust, with more than $2 billion in properties changing hands during each of the past two years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-05T09:55:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:49:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/\",\"name\":\"Tourism Sparks Orlando\u2019s Boom - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando.jpg\",\"datePublished\":\"2017-05-05T09:55:41+00:00\",\"dateModified\":\"2025-02-27T07:49:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/orlando.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tourism-sparks-orlandos-boom\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tourism Sparks Orlando\u2019s Boom\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4\",\"name\":\"Eliza Theiss\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"caption\":\"Eliza Theiss\"},\"description\":\"Eliza Theiss is a senior writer reporting real estate trends in the US. 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