HOUSINGNEWS REPORT
ORLANDO REAL ESTATE RECOVERS ITS MAGIC
TOP 12 FLORIDA COUNTIES FOR NET MIGRATION IN 2017
a number of educational opportunities and cost of living that is below the national average. Projections as to how fast the Orlando metro area’s population will grow vary from an average of 1.9 percent per year over the next 30 years, according to the Institute for Economic Competiveness at the University of Central Florida (UCF), to the 3.2 percent growth in 2018 alone according to Cushman & Wakefield. Indeed, with an estimated 1,000 people moving there every week, in addition to the 72 million visitors that come and go every year, Martinez noted that Orlando has found the means to deal with everything that is going on, evolving in the process and staying ahead of the growth and issues like transporting people to where they need to go. Flourishing Fundamentals Orlando’s economic numbers have recovered well since the Great Recession, especially in the area of employment where the metro was hit hard.
HILLSBOROUGH (TAMPA) POLK (LAKELAND) PALM BEACH (MIAMI) LEE (CAPE CORAL) ORANGE (ORLANDO) PASCO (TAMPA) BREVARD (PALM BAY) BROWARD (MIAMI) PINELLAS (TAMPA) OSCEOLA (ORLANDO) VOLUSIA (DELTONA) LAKE (ORLANDO)
20,603
18,397
17,590
17,174
16,813
15,975
13,126
12,427 12,321
12,036
11,498 11,414
Its most recent peak in unemployment was in January 2010 when it reached a rate of 11.6 percent, a stark contrast to its July 2018 rate of 3.6 percent as reported by the Bureau of Labor Statistics.
The area’s economic growth ranked seventh in the nation among the 381 metropolitan areas studied in 2017 for growth in jobs, wages and high- tech positions by the Milken Institute. It was also named by Forbes as the fourth fastest-growing city in the country for 2018. The metro area has ranked among the best in many other categories as well. While Amazon is working on its new 855,000 square foot fulfillment center expected to hire as many as 1,500 people, the accounting firm of KPMG
“Orlando currently has one of the lowest, if not the lowest,
unemployment rate in the state,” said David Harrison, professor and Howard Phillips Eminent Scholar Chair in Real Estate at the Dr. P. Phillips School of Real Estate at the University of Central Florida. “We’re fortunate to have steady job growth.”
13
SEP 2018 | ATTOM DATA SOLUTIONS
Made with FlippingBook Online newsletter