Orlando Housing Market: Trends & Prices

On this page:

    Orlando Real Estate Market Overview

    (Last Updated – 11/2021)

    Family fun is probably what comes to mind when you think of Orlando: Disney World, Universal Studios, SeaWorld, and other attractions. But Orlando also features historical charm, lakes, museums, and the 50-acre Leu Gardens.

    While Orlando receives visitors from around the world thanks to its major vacation appeal, over 287,000 residents call Orlando home, according to 2019 census data. In fact, the Orlando region is the second-fastest-growing region among the 30 largest cities in the United States.

    The boom helped Florida see major job growth for four years in a row before the pandemic. The pace is picking up again, along with a housing market that’s still seeing high demand. Housing prices in Orlando rose more than 18% since last year, and homes sometimes sell for more than list price.

    The weather is hot, but the Orlando real estate market is too. So let’s take a look at the details.

    Recommended: Home Ownership

    $325,000

    Median Sale Price

    $192

    Avg. Price Per Sq. Foot

    11 days

    Avg. Time on Market

    Orlando Housing Market Forecast

    Orlando home prices were on fire over the past year but may be simmering down a bit. However, low inventory combined with high demand will likely stoke Orlando’s seller’s market for at least the next 12 months, according to real estate experts.

    While the median price in Orlando jumped to $325,000 in 2021, prospective homebuyers interested in making a move to Orlando may find they have to act fast and waive contingencies if they see a home they love.

    Housing market forecast chart

    *Graph taken from Zillow as of 09/2021

    Population Growth in Orlando

    Orlando saw an increase in population of over 20% since 2010, according to 2019 U.S. Census Bureau data. In fact, the population growth in the Orlando region has been so significant, the area is likely going to gain a seat in Congress.

    Many of the new residents are coming from elsewhere. While about 30% of the population growth between 2018 and 2019 reportedly stemmed from organic growth — meaning births outnumbered deaths — 70% was due to migration from locations outside Florida, including other countries.

    You may be surprised to learn that most new Orlando residents are not snowbirds. More than 45% of newcomers are between the ages of 25 and 54, census data shows.

    And the City Beautiful’s population growth shows no signs of slowing down. A 2021 report from Redfin estimates that Orlando gained 60,000 residents in 2020 alone. Except for 2016, that was the highest number of new residents since 2010.

    The fourth largest city in Florida and the 32nd largest metro area in the United States, Orlando is currently growing at a rate of 0.53% annually.

    Demographics of the Orlando Market

    Orlando’s residential side is often overshadowed by the hustle and bustle of the theme parks, hotels, and convention centers. But there is a lot more to Orlando than meets the eye, especially when it comes to building a life there.

    Before you buy a home in Orlando, and before we break down some fast facts about popular neighborhoods, consider the demographics of Orlando as a whole.

    Median Income: $51,757

    Median Age: 33.8

    College Educated: 38.1%

    Homeowners: 35.4%

    Married: 40%

    Colonialtown South

    This neighborhood was primarily constructed during the 1920s Florida land boom, so there are plenty of lovely historical homes to choose from in Colonialtown South, which also features brick roads and tree-lined streets.

    Quick Facts

    Population:

    20,148

    Median Age:

    38

    Housing Units:

    11,193

    Bike Score:

    82

    Walk Score:

    83

    Transit Score:

    43

    Average Household Income:

    $105,816

    Colonialtown Housing Market

    While Colonialtown South isn’t the most competitive neighborhood in Orlando for buyers, some homes do receive multiple offers.

    More popular homes sell in around five days, but most homes sell in about 14 days.


    Average Sale Price

    $650,000

    Average Price Per Sq. Foot

    $256


    College Park

    College Park is considered one of Orlando’s culinary hot spots and has some great locally owned restaurants to choose from. Looking for more excitement? College Park has fun events year-round and cool boutiques for shopping.

    Commuting is easy; the neighborhood is close to Interstate 4 and only 2 miles from Downtown.

    Quick Facts

    Population:

    18,023

    Median Age:

    40.2

    Housing Units:

    9,021

    Bike Score:

    75

    Walk Score:

    59

    Transit Score:

    36

    Average Household Income:

    $124,008

    College Park Housing Market

    In this somewhat competitive market, some homes receive multiple offers. On average, homes sell within four to 18 days.


    Median Sale Price

    $430,000

    Average Price Per Sq. Foot

    $258


    Lake Cherokee

    Lake Cherokee is home to about 160 historic structures dating back to the 1870s, many of which are residences.

    This primarily residential neighborhood has ample historic and modern charm and is very walkable, so enjoy the view when you take a neighborhood stroll.

    Quick Facts

    Population:

    2,538

    Median Age:

    54

    Housing Units:

    826

    Bike Score:

    84

    Walk Score:

    66

    Transit Score:

    51

    Median Household Income:

    $75,518

    Lake Cherokee Housing Market

    In Lake Cherokee, you’ll have a decent amount of time to make a move on a home you love, compared with some other Orlando neighborhoods, but charm does come at a price.

    Typically, houses in this neighborhood sell after 22 days on the market.


    Average Sale Price

    $650,000

    Average Price Per Sq. Foot

    $270


    Lake Nona

    This relatively new community, opened in 2011, sprawls across 17 square miles and places a high value on sustainable design and technology.

    Lake Nona is a health- and wellness-focused community that provides hiking trails, health centers, and ample outdoor space for residents to enjoy.

    Quick Facts

    Population:

    12,145

    Median Age:

    36

    Housing Units:

    5,431

    Bike Score:

    47

    Walk Score:

    10

    Transit Score:

    1

    Average Household Income:

    $103,876

    Lake Nona Housing Market

    The Lake Nona housing market is somewhat competitive, with some homes receiving multiple offers.

    Typically, homes in this area sell in about five days for about list price, with more popular homes selling in about two days.


    Median Sale Price

    $532,500

    Average Price Per Sq. Foot

    $249


    Clear Lake

    The obvious appeal of living in the Clear Lake neighborhood is access to Clear Lake. Playgrounds, trails for biking and jogging, fitness stations, walking paths, and picnic tables provide ample opportunity for families to get fresh air and exercise.

    Quick Facts

    Population:

    18,908

    Median Age:

    41.4

    Housing Units:

    9,188

    Bike Score:

    74

    Walk Score:

    46

    Transit Score:

    40

    Average Household Income:

    $43,824

    Clear Lake Housing Market

    If you have your mind set on living in Clear Lake, you should know that prices skyrocketed in this neighborhood this past year by over 95%.

    That said, homes for sale in Clear Lake are currently selling at around their list price, so you may have better luck landing a home here when you make an offer.


    Average Sale Price

    $295,000

    Average Price Per Sq. Foot

    $172



    SoFi Home Loans

    It’s easy to see why the Orlando real estate market has become hot. The appeal extends far beyond theme parks.

    If you think Orlando could be your home sweet home, then you may need to consider different mortgage loans during your home buying process.

    If you’re buying a home or refinancing an existing mortgage, SoFi can help you make the process as quick and painless as possible.

    Learn More


    SoFi Loan Products
    SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC), and by SoFi Lending Corp. NMLS #1121636 , a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law (License # 6054612) and by other states. For additional product-specific legal and licensing information, see SoFi.com/legal.

    SoFi Mortgages
    Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.

    Third-Party Brand Mentions: No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
    SOHL20010