Central Florida's Rent Hike Set to Reach All Time High

Apartment Association of Greater Orlando forecasts that rent increases in Central Florida is all set to hit its peak.

One-bedroom apartments in Orange, Osceola, Lake, Seminole, and Volusia counties rent for an average of $1,606 per month.

Central Florida has a 4.1 percent vacancy rate, which is equal to the national average.

According to iPropertyManagement, nationwide vacancy rates fell from 13.9% to 5.6% last year.

As a result, fewer rental units are available as demand grows.

In turn, rent prices are on the rise.