Orlando renters pay a premium for signing a summer lease

Orlando, Fla. — If you're on the hunt for an apartment in Orlando right now, it's a good idea to wait to sign that lease.

“The summertime is going to be the most expensive,” says Economist Joshua Clark with HotPads.

He says to try January instead.

“Especially in a place like Orlando where you have a large university there, that’s going to mean a lot of people looking for apartments when they’re getting out of school,” Clark says.

“Also, you have to think about families. It’s a heck of a lot easier to move when kids are out of school and that’s going to cause a lot more competition.”

Median rent in Orlando is $1,590—just above the national average.

Overall, the nation’s hottest rental markets are cooling down while many more affordable areas are seeing faster rent increases.

More facts about the Orlando rental market from HotPads:

• In the past quarter, rent appreciation slowed significantly in Orlando.
• The most expensive month to rent is July, the least is January.
• Orlando has been a top ten for growth year after year, and that is starting to decelerate.

HotPads is a Zillow Group-owned apartment and home search platform for renters in urban areas across the United States.