Orlando is a beautiful city in central Florida, also known as the Sunshine State. It serves as the county seat of Orange County and is the central city of the Orlando metro area, which has a population of over 2.5 million.
The economy of Orlando is heavily impacted by tourism as the city is home to many internationally renowned tourist attractions including Walt Disney World and Universal Orlando. In 2018, over 75 million visitors came to Orlando. If you are planning to live in this thriving and culturally rich city, it pays to learn more about Orlando cost of living estimates and what to expect.
How much does an apartment cost in Orlando?
The overall cost of living in Orlando is slightly above the national average. Housing is one of the highest areas of the cost of living in Orlando, reaching 106% of the national average. Areas where the cost of living in the city is below average include healthcare, transportation, and general goods and services. Some areas of Orlando are a bit more expensive than others. Living near the bustling city center will cost more than living outside the city in one of the nearby suburbs.
The two main areas of Orlando include downtown and the area that houses the theme parks. Both have different residential areas and neighborhoods, but where you choose to live will depend on your needs and wants. Families can choose the suburbs, where the average cost of living in Orlando is slightly lower than downtown. Young working professionals may prefer to be closer to the nightlife and restaurants of downtown Orlando.
The Orlando metro area is known as the Orlando-Kissimmee-Sanford metro, and this area has lower average rental prices than in the city. The average cost of a studio in Orlando is $ 1,072 per month, while a one-bedroom apartment costs an average of $ 1,350 per month. If you need more space, you can expect to pay an average of $ 1,369 per month for a two-bedroom unit, $ 1,815 per month for a three-bedroom unit, or $ 2,165 per month for a unit. of four bedrooms.
In the Orlando-Kissimmee-Sanford metro area, average rental prices are a bit lower. The average cost for a studio is $ 932 per month, $ 1,004 for a one-bedroom, and $ 1,190 for a two-bedroom. Three-bedroom apartments in the metro area cost about $ 1,576 per month, while four-bedroom apartments cost an average of $ 1,879 per month. Residents of Kissimmee pay an average of about $ 1,150 per month for one-bedroom accommodation. Sanford apartments are slightly more expensive, costing an average of $ 1,211 per month for one-bedroom units. Prices in Sanford have increased by about 10% over the past year.
Apartments for rent in Orlando
How to find cheap apartments in Orlando?
Finding affordable apartments in Orlando and the surrounding metro area starts with a quick search on Zumper, where you can apply filters by location, unit size, and amenities. If you are looking for an apartment in a certain area, you can apply these search settings and only look at the units in the location you want. Zumper’s search map also shows average rental prices in various areas of Orlando, so you can expand or adjust your search to suit your budget.
You can also find inexpensive apartments by extending some flexibility regarding size, age and amenities. If you are open to an older unit, you may be able to save on rent. Alternative housing options may also be available, such as small apartments created from converted garages or rental mobile homes.
When you compare rental prices, remember that many renters spend less than 30% of their income on rent. Florida has no state income tax, in part thanks to the large tourism-related tax revenues in the state. Your take-home pay may be higher than you expected, especially if you are moving to Orlando from another state. As a result, you might have more money to spend on rent.
Another way to control the cost of living in Orlando, Florida is to rent an apartment with a roommate. Splitting a two-bedroom apartment with a roommate will cost you an average of $ 685 per month in Orlando or $ 595 per month in the metro area. These costs are significantly lower than the average costs of studios and one-bedroom apartments. You can also share the cost of utilities, television and internet, and other services when you share your living space. Social media groups and online resources make it easy to connect with other people looking for roomates in the Orlando area.
What’s the cheapest rent in Orlando?
The city and the surrounding metropolitan area include several affordable neighborhoods that have a slightly lower cost of living than Orlando, Florida. Holden-Parramore, which is in the west-central part of the city, is a place where the average cost of living is about 20% lower than the city average. Approximately 3,000 people inhabit this region and is home to the historic Holden-Parramore district, which was added to the National Register of Historic Places in 2009.
Another economical place to explore is Rock Lake, an area known for its rich cultural diversity. About 1,000 people currently live in the neighborhood, which has a suburban vibe with many families and established residents. This place also has a number of restaurants serving cuisine from all over the world.
With so much to do and see, Orlando is a great place to feel at home. Residents have access to some of the world’s most popular amusement and theme parks, as well as museums, outdoor recreation opportunities, and plenty of inexpensive restaurants and shopping areas. The cost of living is approaching the national average, which is impressive for such a large city. Compared to big cities like Los Angeles, California, and New York, New York, the cost of living in Orlando seems quite affordable.