When a family is considering relocating to a new place, there are several important matters to take into consideration. You may relocate for better education, lower cost of living, higher quality of life, warmer climate and/or more career growth opportunities.
If you’ve ever wanted to relocate to somewhere warm and tropical like Florida, Orlando is one of the best places to live. Greater Orlando area remains a popular relocation destination for families to enjoy Florida's great weather, theme parks, beaches, and to work from home. After the pandemic, Orlando welcomes more people moving from metropolitan area to Orlando. In 2023, across the nation, 2% of homebuyers searched to move into Orlando from outside metros. New York homebuyers searched to move into Orlando more than any other metro followed by Washington and Miami.
Ackley Florida Property Management and its full menu of professional property management services have been serving the Greater Metropolitan Orlando marketplace since 1984. AFPM features an impressive portfolio of nearly 500 rental properties boasting a 95 percent occupancy rate sprinkled throughout the six-county Metro Orlando market that includes Orange, Seminole, Osceola, Polk and Lake Counties.
Here are some key factors for you to check when considering relocating, especially to Orlando!
Job Opportunities
Consider the employment opportunities in the new location for all members of the family. Research the job market, industries, and companies in the area.
Orlando boasts a robust economy that has consistently shown resilience and growth over the years. With its diversified economic base, including tourism, technology, healthcare, and aerospace industries, the region attracts a steady influx of job seekers and residents. More than ⅔ of our workforce spans across life sciences and healthcare, innovative technologies, advanced manufacturing, and more. Here, Orlando is more than a place to stay. It’s a place to stay on the cutting edge.
Some statistics! Orlando ranks No. 2 in the Country for Job Growth as per U.S. Bureau of Labor Statistics, 2022; No. 1 for STEM Job Growth in the U.S. as per
Forbes, 2018 and No. 3 Best City to Find a New Job as per WalletHub, 2019! If you think you know all there is to know about Orlando, you’re in for a big surprise.
According to the Florida Department of Economic Opportunity, Orlando's unemployment rate remains at 2.6 percent in March 2023 for the third consecutive month, down 0.4 percentage point from the rate of 3.0 percent in March 2022, which is lower than the national average, indicating a relatively stable job market.
Cost of Living
Evaluate the overall cost of living, including housing, transportation, utilities, and healthcare. This is crucial for budgeting and maintaining financial stability.
Living in Orlando means watching your dollar go far beyond where it goes elsewhere. From housing and healthcare to groceries and beyond, nothing compares to Orlando’s incredible cost of living. According to orlando.org, overall, the cost of living in Orlando is 125% less expensive than New York (Manhattan): Housing in Orlando is 78.17% less expensive; groceries 14.80% less expensive; transportation 16.09% less expensive and healthcare 22.19% less expensive.
How does Orlando compare to the state and national average? According to RentCafe, the cost of living in Orlando, FL is 3% higher than the state average and 4% higher than the national average, while utilities are about 7% less pricey. Healthcare services such as doctor check-ups and dentistry cost 8% less here compared to the U.S. average.
Of course, the cost of living in any area can vary based on factors such as your career, its average salary and the real estate market of that area. According to Sofi.com, a good salary — one that allows for necessities, fun, and savings — might start at $60,000 for a single, childless renter in Florida and $75,000 for a similar homeowner. Why those figures? Using the 50/30/20 budget method, start with what MIT calls a living wage in Florida, which covers basic needs (50% of a salary). Add entertainment, vacations, restaurant meals, more shoes for the collection, and other “wants” (30%). Factor in 20% to be saved.
Even adding one child to a household greatly increases expenses (as if any parent needs to be reminded). A looser definition of a good salary for a working adult with a working partner and a child, based on the MIT Living Wage Calculator, could be $66,500 plus money for discretionary spending.
Education System
If there are children in the family, research the quality of schools in the area. Consider factors such as school rankings, extracurricular activities, and the overall educational environment.
The Greater Orlando area offers many options for schools. Whether you choose a zoned, public school, opt for a charter school specializing in STEM or the Arts or a private school, there are many options to fit your family’s needs.
Private school options include: Lake Highland Preparatory School- offering Pre K-12 Bishop Moore. The First Academy Windermere Prep, Orlando Science Charter School Trinity Prep. Dr. Phillips is known for its upscale homes, excellent schools, and proximity to high-end shopping and dining, particularly on Restaurant Row. Dr. Phillips is a highly sought-after community in Orlando, Florida.
Central Florida is home to several top-rated colleges and universities, including the University of Central Florida (UCF), Rollins College, and Stetson University. UCF is the largest university in the state of Florida and offers over 200 undergraduate and graduate degree programs. Rollins College, located in Winter Park, is a private liberal arts college consistently ranked among the top regional universities in the South. Stetson University, located in DeLand, is another highly regarded private institution known for its strong programs in business, law, and music. Other notable colleges in the area include Valencia College and Seminole State College of Florida, which offer affordable education options for students seeking associate's degrees or career training programs.
Healthcare Facilities
Access to good healthcare services is essential. Research the availability of hospitals, clinics, and healthcare specialists in the new location.
Medical City at Lake Nona is home to several world-renowned hospitals, including: UCF Lake Nona Medical Center, Nemours Children's Hospital, Orlando VA Medical Center, GuideWell Innovation Center, University of Florida Academic & Research Center, MD Anderson Orlando Cancer Research Institute. These hospitals offer top-quality healthcare services and state-of- the-art facilities, making Medical City an ideal location for patients seeking exceptional medical treatment. Additionally, the area's educational institutions and research centers attract top talent from around the world, providing ample opportunities for students and researchers alike. Overall, Medical City Lake Nona is a hub of innovation and excellence in the healthcare industry.
Community and Safety
Explore the community and neighborhood. Consider factors such as safety, proximity to amenities, parks, and community events. Check local crime rates and community reviews.
Orlando boasts several upscale neighborhoods known for their luxurious amenities, exclusive properties, and desirable amenities, including top-rated schools, beautiful parks and recreational areas, and a vibrant nightlife scene.
Ackley Florida Property Management will help you find the right place to relocate in the greater Orlando area including Lake Nona, Windermere, Dr. Phillips, Winter Park, Winter Garden, Lake Mary and Celebration.
Climate and Environment
Consider the climate and overall environment of the new location. This includes weather patterns, natural disasters, and any environmental factors that may impact daily life. The Central Florida region—which includes Orlando and surrounds—has what is called a humid subtropical climate. This type of climate zone is defined by hot and humid summers and very mild winters.
One of Orlando’s biggest draws is our year-round sunny, mild weather — we are in the Sunshine State, after all. What’s more, Central Florida maintains a comfortable average annual temperature of 72 degrees. Over the course of the year, the temperature typically varies from 52°F to 91°F and is rarely below 39°F or above 94°F.
Transportation
Assess the transportation options available, including public transit, road infrastructure, and commuting times. This is especially important if family members will be working or attending school in different areas.
The new Brightline railway will further boost Orlando’s tourism by linking riders from Miami to Orlando in about three hours with more than 30 trains a day. The service is slated to begin later this summer and will roll at speeds of up to 125 mph, making Brightline the fastest train operating in Florida and one of the fastest in the country. It features a three-story contemporary design, retail shopping, a bar with light bites and panoramic views of oncoming trains.
Quality of Life
Consider the overall quality of life in the new location. This includes factors like cultural amenities, recreational opportunities, and the general lifestyle the location offers like networking and social Connections, which is important for building a support system and feeling connected to the community.
In Orlando, you can choose from a range of lifestyles, from downtown condo living to suburban single-family homes. There’s also a top-tier university drawing thousands of students each year, so the city is poised to continue growing. Living in Downtown Orlando offers a wide range of opportunities for those who want to live close to large employers. With the city's vibrant business district, residents can easily commute to work and enjoy all the perks of city living. Some popular downtown neighborhoods include Thornton Park, Lake Eola Heights, and Central Business District. These areas offer a mix of apartment complexes, condos, and single-family homes that cater to different lifestyles and
budgets.
Whether you're looking for a trendy loft or a cozy bungalow, there's something for everyone in Downtown Orlando. You can also visit the Steinmetz Hall, recognized as one of the 11 most beautiful theaters in the world. Plus, with easy access to public transportation and major highways, getting around town is a breeze. So if you're looking for a convenient place to call home near some of the biggest employers in the area, look no further than Downtown Orlando.
Future Growth and Development
Consider the long-term prospects of the new location. Look into the city or town’s plans for growth and development to ensure that it aligns with the family's goals.
Florida was the fastest-growing state in the U.S. in 2022, the Census Bureau says, and it’s easy to see the draw. It’s a state with no income tax, moderate property taxes, lots of sunshine, and plenty to do and explore. Corporate and sales taxes are lower than those of most other states. Despite its strong economic growth and desirable amenities, Orlando's real estate market remains relatively affordable compared to other major U.S. cities. The average rent for apartments in Orlando, FL, is between $1,742 and $2,119 in 2023.
This affordability factor attracts first-time homebuyers, investors, and retirees looking for value in the housing market. Moreover, lower property prices translate to favorable cash flow potential for real estate investors, especially in the context of the city's strong rental demand.
A significant proportion of this population growth comes from the millennial demographic, attracted to the area's vibrant job market, affordable living costs, and recreational amenities. This demographic trend indicates a steady demand for rental properties and a potential pool of future homebuyers, making Orlando an attractive market for real estate investment.
6 Useful Sites for Orlando-ers!
Part of Orlando Economic Partnership. It provides everything you need to know about Orlando: Live, work, play and learn!
https://www.visitorlando.com/events/
Official website of Visit Orlando, you can get all the information about the iconic attractions and events in Orlando.
https://www.experiencekissimmee.com/
The go-to side for Kissimmee residents.
https://www.orlandodatenightguide.com/
Perfect for foodies and fun seekers!
Telling stories of the Winter Park, FL community that need to be told.
https://www.orlandoweekly.com/
Orlando Weekly is the Orlando area’s award-winning alternative media company. They have been Orlando’s sources for local news, opinion events and culture for over 30 years.
Relocating is a significant decision, and thorough research and planning are essential to ensure a smooth transition for the entire family.
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You might be seeking opportunities to rent a or manage a property; we are here to help! Ackley Florida Property Management and its full menu of professional property management services have been serving the Greater Metropolitan Orlando marketplace since 1984. Please contact Ackley Florida professionals for rental and managing needs at 407-846-8805.
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