Saturday, February 06, 2010

Orlando Highest Vacancy Rate

Its hard to believe that Orlando had the highest vacancy rate out of 75 metropolitan cities in 3rd quarter 2009 according to a recent article in the Orlando Sentinel.  This includes vacant houses, condos, and apartments.  As result rental rates have declined 5 to 6% in the last year.  Downtown Orlando and areas close to major employers are doing better than other areas.  Despite the large vacany rates, Orlando housing prices are now more affordable to buyers who are thinking of no longer renting.