Should You Buy Now or Wait in Orlando, FL?
Pre-filled with Orlando's median home price of $390,000, a typical rent of $1,900/month, and a 0.9% property tax rate. Adjust the rate and price assumptions to see whether buying now or waiting comes out ahead.
Your situation
Negative = you expect prices to fall before you buy.
Waiting comes out ahead over 7 years
By $57,057 in net worth
🏠 Buy now — net worth at year 7
$177,804
⏳ Wait 18mo — net worth at year 7
$234,861
Break-even price
4.8%/yr
Break-even rate
—
Rent while waiting
$34,937
Waiting is ahead by $57,057 at year 7
Waiting ends with $234,861 in net worth — $57,057 more than the alternative — and holds up across a reasonable range of rate and price assumptions. Waiting only pulls ahead if prices move below about 4.8%/yr during the wait.
- ›Shortening the wait from 18 to 6 months cuts the $34,937 of rent you'd otherwise burn before owning.
- ›Waiting only pulls ahead if prices move below about 4.8%/yr during the wait.
⚡ Waiting 18 months means $34,937 paid in rent with no equity to show for it.
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The Orlando market and the timing decision
Orlando's home prices remain relatively moderate for a fast-growing Sun Belt metro, but as with Tampa and Jacksonville, get a current homeowners insurance quote before finalizing your buying decision given Florida's elevated and rising insurance costs statewide.
Florida has no state income tax, and Orlando's property tax rate of 0.9% is below the national average — a favorable combination, though as with other Florida metros, rising insurance costs are an important additional factor.
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Educational content only — not financial advice
Local price, rent, and tax figures are estimates for Orlando, FL and will differ by neighborhood and property. Future mortgage rates and home prices cannot be predicted. Consult a qualified mortgage, financial, or real estate professional before making a home-purchase decision.