Build-to-Rent Developments Surge in Orlando, Offering New Choices for Tenants

On Colonial Drive, just east of downtown Orlando, the glossy marketing banners for Haven at Lake Underhill tell the story: "All the Perks of Homeownership, None of the Hassle." Over 75 new homes—complete with private yards, attached garages, and maintenance included—opened their doors last month, the latest wave in the city’s fast-expanding build-to-rent (BTR) landscape.

The surge comes as affordability pressures continue to hit both buyers and renters across Central Florida. In June, the Orlando Regional Realtor Association reported the median price for a single-family home at $417,250, up 6 percent year-over-year. Meanwhile, apartment rents have edged up again, with average two-bedroom units hitting $2,190 in May. For residents, the dream of homeownership is retreating further over the horizon, and demand is pivoting towards alternatives that blend flexibility with suburban amenities.

Inside Orlando’s BTR Boom

This isn’t the same as renting the classic 1960s brick bungalow from a private landlord. Build-to-rent communities—like Park Square Homes’ new Solana East Village in Lake Nona—market themselves as a different breed: purpose-built, professionally managed, and brimming with amenities usually reserved for buyers. Solana East Village’s 102 single-family homes offer clubhouses, dog parks, smart-home upgrades and a sense of neighborhood identity—without requiring even a penny of down payment.

"We’re seeing groups from out of state and longtime locals who want a yard and a garage, but just can’t (or won’t) jump into this buying market," says Danielle Phillips, leasing manager at the newly opened Kaleido at Lee Vista, where rents for three-bedrooms start around $2,750. These communities focus on worry-free living: no replacing the air conditioner out-of-pocket and no haggling with absentee landlords. Yardwork, repairs, pest control—it's all included in the monthly rent.

Build-to-rent developments are most concentrated along high-growth corridors—Lake Nona, Lee Vista, and northwest Orlando near Maitland being standouts since 2023. National players like Invitation Homes and American Homes 4 Rent have added nearly 4,100 BTR units in Orlando since January 2024, according to data from Yardi Matrix. By summer 2026, another 1,600 are expected to deliver in Orange County alone.

Affordability: The Trade-Offs

For many households, the math is complicated. According to the University of Central Florida’s Institute for Economic Forecasting, a household needs about $92,000 in annual income to qualify for a median-priced home sale with 10% down payment and average property taxes in Orange County. Meanwhile, renting a new three-bedroom in a BTR community generally requires a household income of $82,000 to $90,000 per year—similar, but without the upfront cash and closing costs.

Still, rents for these homes are well above the city’s average for traditional apartments. With rising insurance premiums and property taxes pushing up ownership costs, some local renters are opting for BTR to buy time while house prices outpace wages. But for families priced out of buying, especially first-time buyers, these communities offer something rare: school zones like those around Avalon Park, space for pets, and freedom from surprise repairs.

As the local inventory of affordable homes for sale remains tight, more developers are lining up parcels for the next wave of BTR communities across southeast Orlando and Winter Garden. For those navigating Orlando’s overheated market now, brokers like Metro City Realty advise mapping out priorities: is it stability versus flexibility? A shot at building equity, or lower stress and no down payment?

One clear trend: build-to-rent isn’t a passing phase. As new communities fill up months ahead of schedule, the Orlando rental landscape looks set for another major transformation by this time next year.