Orlando, FL is perhaps best known for being the home of Disneyworld, Epcot and Universal Studios Florida. But Orlando is not just a great place to visit, it’s a great place to live.
Orlando has a reputation for being one of the best family vacation getaways in the United States. Located a bit north of the center of Florida, Orlando benefits from a warm climate, lush green foliage and lots of sunny days. To the west, you’ll find Tampa and beyond that, beautiful white-sand beaches. Or, travel east to enjoy the east coast of Florida.
The nickname for Orlando is “the City Beautiful,” and it’s one of the top world travel destinations due to its famous amusement parks and conventions, drawing more than 75 million visitors annually. Of course, if you visit Orlando, you’ll probably want to see Disneyworld, part of the Walt Disney World Resort. You can also visit the Universal Orlando Resort, which contains Universal Studios Florida, as well as Islands of Adventure where you can visit the Wizarding World of Harry Potter – Hogsmeade.
If golf is your thing, Orlando won’t disappoint. You’ll find many great golf courses in the Orlando area, from high-end private golf clubs to public golf courses.
What about the average rent in Orlando? While rents may be higher than average in Orlando at $2,501 for a two-bedroom, the overall cost of living in Orlando is 1 percent less than the national average. If you’re looking to find an apartment in Orlando, you can find many great neighborhoods with affordable rents.
Read on to learn more about the cost of living in Orlando. We will cover:
Housing costs in Orlando
The average rent in Orlando costs $2,501, although the overall cost of living in Orlando for housing runs 6.5 percent lower than the national average. You can find many affordable neighborhoods in and near Orlando, with Summerlin at Winter Park offering the lowest average rent at $1,263 for a two-bedroom.
Popular neighborhoods in Orlando include Downtown Orlando ($2,633 for a two-bedroom), Lake Nona ($2,132 for a two-bedroom), Baldwin Park ($2,547 for a two-bedroom) and College Park ($2,016 for a two-bedroom).
Average rent prices in cities near Orlando
If you want to find good rates for apartments near Orlando, you have some options around the city in areas like Celebration or Kissimmee. We’ll also share some of the average rents in other cities in proximity to Orlando, including both coasts:
- Celebration, FL: $1,794
- Kissimmee, FL: $1,571
- Melbourne, FL: $2,285
- Tampa, FL: $1,927
- Saint Petersburg, FL: $1,789
- Clearwater, FL: $2,326
Home prices in Orlando
The housing market in Orlando is hot, according to Redfin. Be prepared to make quick decisions if you want to purchase a home in the Orlando area. It only takes about 9 to 10 days for someone to snap up a home. Home sellers are often getting multiple offers, and many buyers are willing to waive contingencies in order to get their foot in the door. This means that houses often sell for 3 percent above the list price. Don’t be surprised if a house gets an offer in just 4 days.
Overall, prices for homes went up 12.5 percent compared to last year (as of August 2021). The median sale price is $315,000. Last year, it took 21 days for a house to sell, so you can see how much hotter the market has become with the new 10-day average. More houses are selling, as well — 1,365 Orlando homes were sold in August 2021 compared to 1,182 in the previous year.
Food costs in Orlando
The cost of living in Orlando for groceries is a little bit over the national average by 5 percent. This may be due to the number of tourists coming to the area, although the good news in that regard is that you’ll also have a lot of places to choose from for a night out to eat.
If you’re planning to eat in at home in Orlando, you should budget approximately $10.65 for a steak, $5.74 for a pound of ground beef or $4.67 for sausage. For vegetarian options, lettuce averages $1.65, sweet peas $1.37 and peaches $2.02.
Utility costs in Orlando
Orlando’s climate is considered to be humid and subtropical, which means you’ll definitely need an air conditioner going continuously if you want to feel comfortable, especially in the summer.
The cost of living in Orlando for utilities is below the national average by 5.4 percent. This means your average energy bill will be $152.34.
Transportation costs in Orlando
With so many tourists driving the roads in Orlando, you bet that Orlando traffic can be a bit frustrating for locals. Additionally, at any given time, Orlando may have construction along I-4 as it winds its way around town, turning the freeway into a bit of a slalom course.
Unfortunately, Orlando is not very walkable (the Walk Score is 35), so you’ll need a car to get around. Orlando’s Transit Score is also near the bottom at 28. There are some bike routes available, giving Orlando a better Bike Score of 51.
For public transit, Orlando offers LYNX Bus Service. A single-ride fare is $2 (or $1 for discount fare). Transfers are free and you can get a day pass for $4.50 ($2.25 for discount fare).
Connecting to other cities and international destinations is easy with the Orlando International Airport. Orlando is also located near the Sanford Auto Train station, which is where snowbirds are able to load up their cars, as well as themselves, onto an Amtrak train to seasonally transition between Florida and the northeast.
A new high-speed train running 125 mph and connecting Miami and Orlando is coming in 2022.
Healthcare costs in Orlando
Healthcare costs in Orlando are 1.6 percent less than the national average, perhaps surprising given Florida’s high number of retirees. While individual healthcare will, of course, vary, a trip to the doctor will cost on average $96.00 and the optometrist $99.29. If you need prescription drugs, they may be one of your biggest healthcare expenses at $468.11 on average. Some ibuprofen from the drugstore will be priced at $10.13 on average.
According to U.S. News & World Report, some of the top-ranked hospitals and medical centers in Orlando are AdventHealth Orlando, Orlando Regional Medical Center and the Arnold Palmer Hospital for Children.
Goods and services costs in Orlando
The cost of miscellaneous goods and services in Orlando is on par with the rest of the country at just 1.7 percent above the national average. Plus, with the warm Florida weather, you won’t need to spend as much on winter clothes or tires (though if you do need your tires balanced in Orlando, it will cost $62.93 on average). Do be prepared to get your best golf shoes and pickleball outfits ready!
If you do need clothes in Orlando, you can expect to pay $25.14 for women’s slacks, $22.33 for a men’s shirt and $23.51 for kids’ jeans. Toothpaste runs $2.08, which you should make liberal use of because a trip to the dentist will cost $111.00.
Movie tickets average $11.55 and a yoga class costs approximately $15.33. Of course, you can always play the tourist in your hometown and visit one of the great amusement parks. Expect tickets to run for $100 or more for a day.
Taxes in Orlando
If you dislike income tax, you’re in luck. The state of Florida doesn’t have state income tax, just a sales tax rate of 6 percent. In Orlando, you’ll also pay an extra .5 percent sales tax to Orange County. This results in a combined sales tax rate of 6.5 percent in Orlando. Thus, for every $1,000 you spend, you’ll be taxed $65.
How much do you need to earn to live in Orlando?
To afford the average rent in Orlando, which is $2,501 for a two-bedroom, you would need to earn $8,336.67 per month or a total of $100,040 each year. This is based on the conventional wisdom that you should only spend approximately 30 percent of your income on rent.
Fortunately, Orlando has many great neighborhoods with cheaper rent than the average. You’ll also save on taxes due to the lack of income tax in Florida. So, you should be able to find a great home in the Orlando area at differing levels of income. To help make this easy for you, we have a free online rent calculator to help you figure out your costs to live in Orlando, FL.
Understanding the cost of living in Orlando
The cost of living in Orlando is generally affordable, although the average cost of rent in Orlando is a bit higher due to the many upscale apartments available. With a massive tourist industry, as well as sunshine galore, Orlando is a welcoming place to visit and live, either part-time or year-round. With a strong local economy and many job opportunities, Orlando is likely to have a robust housing market for years to come.
Looking to move to Orlando? Find apartments for rent in Orlando today.
Cost of living information comes from The Council for Community and Economic Research.
Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com’s multifamily rental property inventory of two-bedroom apartments as of August 2021. Our team uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets.
The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.
Source: rent.com