Lake Nona’s rental market is booming, especially for single-family long-term rentals. This fast-growing master-planned community in Orlando, Florida has quickly become a hotspot for real estate investors and landlords. Below, we explore current data and trends – from rent averages and historical growth to vacancy rates – and the key demand drivers (Medical City, job creation, population influx, infrastructure investments) that make the Lake Nona rental market stand out. This educational overview will compare Lake Nona to other Orlando submarkets where relevant, highlighting why Lake Nona is emerging as a high-demand location for single-family rental investment.
Lake Nona Rental Market Overview
Lake Nona is known for upscale single-family homes commanding premium rents amid strong demand. Key metrics illustrate the market’s strength:
Median Rent (Single-Family Homes): Approximately $2,750 per month as of 2025 – about 42% higher than the U.S. average. Upscale single-family rentals in Lake Nona often lease for $3,000–$4,500+ per month in desirable communities.
Average Rent (Apartments vs Houses): The average apartment rent in Lake Nona is around $1,994 (all sizes, as of May 2025), which is on par with Orlando’s overall average. Houses for rent, however, are much higher – averaging roughly $3,289 per month. In other words, a typical Lake Nona single-family home rents for over 50% more than a typical apartment in the area.
Occupancy and Vacancy: Lake Nona’s rental occupancy is about 96% as of early 2025. This translates to a very low vacancy rate (~4%), reflecting how high demand has kept units filled. For context, a 96% occupancy is a tight market – renters face limited supply, and landlords enjoy quick leasing and minimal downtime between tenancies.
Rent Growth Trends: Like the broader Orlando rental trends, Lake Nona saw double-digit rent increases during the 2021–2022 boom. Rents then leveled off in 2024, with Orlando-area rents dipping roughly 2% year-over-year in 2024 after a surge of new apartments came on the market. Despite this brief correction, rent growth is expected to resume in 2025 (~+2–3% forecast) as demand keeps up with supply, especially in desirable neighborhoods like Lake Nona. In short, the frenzy has cooled from the pandemic era spikes, but steady growth is predicted moving forward.
Tenant Demographics: Lake Nona’s renter profile skews affluent and highly educated. About 86% of residents have at least a bachelor’s degree and over one-third of households earn more than $250,000 annually. The median household income in Lake Nona far exceeds the Orlando average, with many households comfortably in the six-figure range. This well-paid tenant base supports the premium rents in the community and tends to demand high-quality housing. Notably, roughly 34% of Lake Nona households are renter-occupied (with the majority owner-occupied), which is significant given the area’s suburban, high-homeownership character.
In comparison to nearby markets, Lake Nona’s rents are among the highest in Metro Orlando. Orlando’s citywide median rent is about $2,029 as of mid-2025, which Lake Nona handily surpasses. Even other popular Orlando neighborhoods known for pricey real estate don’t outshine Lake Nona when it comes to single-family rentals. For example, downtown Orlando’s average apartment rent ($2,070) and upscale areas like Baldwin Park ($2,364) are in the same ballpark for apartments, but Lake Nona’s large modern homes command significantly higher monthly rents. This premium is due to the unique combination of factors Lake Nona offers – which we’ll examine next.
Growth Drivers Behind Lake Nona’s Rental Demand
Lake Nona’s rapid development and strategic planning have created strong tailwinds for rental demand. As of early 2025, the community’s occupancy hovers around 96%, property values have been appreciating at roughly 8% annually, and the median rent stands nearly 39% above the national average. These metrics (shown above) reflect Lake Nona’s booming rental market. Several growth drivers contribute to this performance – notably the Medical City development, robust job creation, ongoing population influx, and major infrastructure investments.
Medical City and the Healthcare Hub
A cornerstone of Lake Nona’s growth is its renowned Medical City – a 650-acre health and life sciences park that has put the area on the map. Lake Nona is often nicknamed “Medical City” for its cluster of hospitals, research institutes, and medical education centers concentrated here. This includes anchors like the University of Central Florida College of Medicine, Nemours Children’s Hospital, the VA Medical Center, and research facilities. These institutions have created a steady influx of healthcare professionals, students, and support staff who all need housing nearby.
One striking projection: UCF’s College of Medicine alone is expected to generate over 30,000 local jobs and deliver a $7.6 billion economic impact within a decade. In practice, this means thousands of doctors, nurses, researchers, and technicians moving into the area or graduating into local jobs. Many of these individuals prefer to rent high-quality homes in close proximity to work. The result has been a surge in demand for rentals – evidenced by Lake Nona’s high occupancy (96%) and rising rents. In essence, Medical City fuels rental demand: the hospitals and labs not only provide employment but also anchor Lake Nona as a long-term center of excellence in healthcare, virtually guaranteeing a continuous stream of well-paid tenants seeking convenient housing.
Job Growth and Major Employers
Beyond healthcare, Lake Nona has attracted a range of major employers and business campuses that drive job growth. The community was designed as an innovation hub, and it shows – companies across various industries have set up operations here. For instance, the KPMG Lakehouse, a 55-acre state-of-the-art training center, brings thousands of employees and executives to Lake Nona annually for multi-week training programs. This influx of professionals (even if some are short-term) bolsters demand for housing – including extended-stay rentals and corporate housing – and signals Lake Nona’s stature as a corporate destination.
Several other high-profile organizations call Lake Nona home. An Amazon fulfillment center, a Johnson & Johnson regional office, the U.S. Tennis Association’s National Campus, and a Verizon 5G Innovation Hub are all located in the area. The presence of these facilities means jobs in logistics, biotech, sports and wellness, and tech, respectively – all adding to the local employment base. Lake Nona’s Town Center is also expanding with new offices and retail, increasing local service jobs.
Notably, Lake Nona was even selected by Disney as the site for a planned new regional campus, intended to relocate thousands of employees from California. While the status of that plan has become uncertain, the very announcement underscored Lake Nona’s appeal to large corporations. In sum, the job creation in Lake Nona spans beyond just one sector. The mix of healthcare, education, corporate, and tech employers in and around Lake Nona translates into robust rental demand from a diverse pool of workers – from young professionals to executives – all wanting residences with easy commutes.
Population Growth and Demographics
Central Florida is experiencing a population boom, and Lake Nona is at the heart of this growth. The Orlando metro area added roughly 76,000 new residents between 2023 and 2024, a 2.7% annual growth rate – the fastest among the 30 largest U.S. metros. People are flocking to Orlando for its expanding job opportunities, relative affordability (compared to places like New York or Miami), and quality of life. Many of these newcomers rent before buying, which enlarges the tenant pool. Domestic migration is a big factor – families and professionals relocating from high-cost regions (the Northeast, California, South Florida, etc.) choose Orlando for a fresh start. Lake Nona, with its reputation as a safe, high-quality community, attracts a significant share of these movers, especially those in the medical or tech fields.
Within Orlando, the southeast corridor (including Lake Nona) is projected to see the largest population gains in coming years. City planners anticipate nearly 100,000 additional residents in the southeast by 2050, which includes developments in and around Lake Nona. This local population surge underpins long-term rental demand – essentially, Lake Nona is growing its own tenant base as new housing developments continue to spring up and fill with residents.
Crucially, Lake Nona’s demographics skew affluent, which is an important consideration for rental investors. As mentioned, many households earn well above the regional median income, and a remarkable share hold advanced degrees. In fact, Lake Nona’s median household income is comfortably in the six figures (far above the Orlando metro median). This matters because higher-income renters can afford the premium rents that Lake Nona properties command. Many Lake Nona renters are by choice – e.g. relocating executives, medical residents or fellows, and families who could buy but choose to rent initially to get to know the area. These renters often treat homes well and stay longer, providing stable tenancy. Moreover, some trends even show affluent Floridians from Miami or coastal cities relocating to Orlando for more space or lower costs – Lake Nona’s A-rated schools, master-planned environment, and abundance of amenities make it particularly attractive to such families. Overall, the population influx combined with Lake Nona’s high-quality resident profile creates a virtuous cycle for the rental market: more people moving in with the means to pay top rents, keeping vacancies low and landlords satisfied.
Infrastructure and Connectivity Investments
Another pillar of Lake Nona’s rise is its world-class infrastructure. The community has been built with an eye toward connectivity, technology, and lifestyle – all of which enhance its desirability for renters (and residents in general). Geographically, Lake Nona sits adjacent to the Orlando International Airport, one of the busiest airports in the U.S. In recent years, the airport opened a new terminal and a state-of-the-art intermodal transit center, now serviced by the Brightline high-speed train connecting Orlando to South Florida. This means Lake Nona residents are minutes away from a major transportation hub, offering convenient travel and commuting options (including a future planned light-rail connection). For professionals who travel or those who moved from out of state, this proximity is a major selling point.
Lake Nona also benefits from excellent highway access – Florida’s 417 expressway and other major routes connect the area to downtown Orlando (roughly a 20-30 minute drive) and the greater metro region. Ongoing road improvements and expansions around the Lake Nona region (for example, new expressway interchanges and extensions into fast-growing nearby communities) continue to improve mobility. Infrastructure investments within Lake Nona itself are equally impressive. The community was designed as a “smart city” from the ground up: it was the first gigabit community in Florida, wired with over 40,000 miles of fiber for ultra-high-speed internet – a boon for the many residents who work remotely or in tech fields. A community-wide 5G network and even autonomous shuttles (the largest fleet in the U.S. operating in a single site) are part of daily life in Lake Nona. These futuristic amenities not only garner press attention but also attract tech-savvy renters who value innovation.
Beyond tech, there’s thoughtful investment in quality-of-life infrastructure: 44 miles of biking and walking trails, numerous parks and green spaces, modern fitness facilities (like the Lake Nona Performance Club), and a vibrant town center with shops, restaurants, and entertainment options. Such features make Lake Nona more than just a bedroom community – it’s a self-contained lifestyle destination. For families and young professionals considering where to live in Orlando, this level of infrastructure – from transit access to recreational amenities – makes Lake Nona extremely appealing. In rental terms, that means higher demand and willingness to pay premium rents for the convenience and experience of living in this well-planned environment. Simply put, Lake Nona’s heavy investment in infrastructure and connectivity is paying dividends in rental demand. Renters get urban-like conveniences and cutting-edge amenities in a suburban setting, which is a rare combination in Florida.
Lake Nona vs. Other Orlando Rental Markets
Within the Orlando area, Lake Nona is increasingly mentioned alongside the region’s most desirable submarkets. Real estate experts group Lake Nona with upscale areas like Winter Park, Dr. Phillips, and Windermere – all known for affluent residents, high-end homes, and strong rental demand. Each of these areas has its own character (Winter Park is historic and built-out, Dr. Phillips offers suburban luxury near the theme parks, Windermere is an established millionaire enclave, etc.), but they share some common traits: high rents, low vacancies, and solid long-term property value growth. Lake Nona, as a “newcomer” among Orlando’s elite neighborhoods, offers a brand-new master-planned vibe compared to the old wealthy suburbs – and this modern growth orientation sets Lake Nona apart.
In terms of rental pricing, Lake Nona’s single-family rental rates outpace most of the metro. As noted, the median rent in Lake Nona ($2.7K) is dramatically higher than the Orlando median ($2.0K). A large 4-bedroom home in Lake Nona might rent for $3,500 a month, whereas a comparable home in a typical Orlando suburb might rent closer to $2,200–$2,500. Even within Orlando’s high-end locales, few have seen the explosive growth that Lake Nona has in the past decade. Lake Nona’s housing stock is mostly new (built in the 2010s and 2020s), whereas areas like Winter Park or Dr. Phillips have older homes mixed in – meaning Lake Nona offers modern features and energy efficiencies that can command a rent premium.
It’s also worth noting that Orlando’s rental market trends have varied by submarket recently. Downtown Orlando and some north-side neighborhoods experienced a surge of new luxury apartment construction, which momentarily slowed rent growth there in 2023–2024. Lake Nona likewise had a wave of new apartments (about 2,800 units delivering in 2025) that added supply. However, demand in Lake Nona has been strong enough to absorb much of it. Other top submarkets like Winter Park have very limited new construction (being land-constrained), so their rents stayed very high due to scarcity. Lake Nona, with more room to grow, is carefully balancing new development with maintaining its high-quality appeal. The bottom line: Lake Nona holds its own against Orlando’s priciest neighborhoods, and in some ways leads the pack for what the future of Orlando’s rental market looks like – tech-forward, master-planned, and oriented around high-paying industries.
Why Lake Nona Is a High-Demand Rental Investment Market
For landlords and investors, Lake Nona presents a compelling case as a high-demand location for rental property investment. Several factors combine to make the Lake Nona single-family rental investment outlook particularly bright:
Premium Rent Potential: Lake Nona’s rent levels are significantly higher than both the national and Orlando averages. Investors can charge top-of-market rents for quality properties here – and still find eager tenants. Gross rental yields are attractive when considering the relatively moderate home purchase prices in the earlier years (home values have risen, but many investors who bought in the mid-2010s have seen rents climb rapidly, improving their returns). Even with home prices now in the $400K–$600K+ range for many Lake Nona houses, the strong rents (often $3K+ per month) can produce healthy cap rates comparable to or better than other upscale areas.
Low Vacancy and Consistent Demand: The vacancy risk in Lake Nona is low. With occupancy around 95–96% on average, rental homes do not stay empty for long. High demand from incoming professionals means landlords often have multiple applications when a property hits the market. This consistent tenant demand gives owners confidence in steady cash flow and reduces the costs associated with turnover. Additionally, Lake Nona’s tenant base (medical staff, corporate employees, etc.) often have stable jobs and tend to rent for multiple years, further lowering turnover and vacancy rates.
Economic and Job Growth Engines: Lake Nona’s growth is sustainable, powered by long-term investments like Medical City and the nearby corporate campuses. These aren’t one-time events – they are ongoing engines producing jobs and attracting new residents each year. The pipeline of future development (e.g. expansion of the medical campus, additional research facilities, potentially new corporate relocations) means the tenant pool will keep expanding. Unlike some resort areas that depend on tourism cycles, Lake Nona’s economy is diversified and anchored in recession-resilient sectors (healthcare, education, technology). This stability is a boon for rental investors. Even during broader market slowdowns, areas tied to major hospitals and universities often see reliable rental demand.
Affluent, Reliable Tenants: As discussed, Lake Nona’s renters tend to be well-qualified – high-income, good credit, and often moving to the area for a professional position. From a property management perspective, Lake Nona landlords benefit from tenants who can comfortably afford the rent (often spending a smaller share of income on rent than the typical renter elsewhere). This can translate into fewer missed payments and better care of the property. It’s no surprise that professional property management in Lake Nona focuses on catering to this discerning tenant base with smart-home features, landscaping maintenance, and other premium services to meet expectations. The payoff for investors is a smoother management experience and potentially lower expenses on evictions or property repairs due to neglect.
Long-Term Appreciation and Exit Strategy: Lake Nona is not just about rental income – it’s also about capital appreciation. The community’s home values have been on a steep upward trajectory, rising roughly 8% annually in recent years. While such rapid growth may moderate, Lake Nona’s fundamentals suggest values will continue to appreciate over the long term (though perhaps at a steadier pace) as the area completes its build-out and demand remains high. Investors therefore have a dual benefit: solid rental yields today and an asset that likely grows in value over time. When the time comes to sell, Lake Nona’s reputation and scarcity of remaining new land could mean a robust resale market. In other words, an investment in Lake Nona offers both immediate cash-flow potential and long-term equity growth.
In conclusion, Lake Nona has rapidly evolved into one of Orlando’s premier rental markets for single-family homes. By combining cutting-edge development with strategic economic drivers, it has created a perfect storm of high rental demand, limited vacancies, and strong rent growth. All signs indicate that Lake Nona will continue to “flourish” as a “city within a city,” offering modern properties, an innovative environment, and a tenant base that keeps landlords’ returns healthy. For anyone interested in Orlando rental trends and emerging opportunities, Lake Nona exemplifies how thoughtful planning and investment can transform a suburb into a thriving, high-yield rental investment locale. With Medical City expanding, jobs pouring in, and infrastructure paving the way, Lake Nona’s rental market is poised to remain a standout performer in the years ahead.
Sources:
RentCafe – Lake Nona, Orlando, FL Rental Market Trends
Ackley Florida Property Management – Orlando Market Outlook 2025
Ackley Florida – Investment Hotspots: Lake Nona
Global Florida Realty – Top Orlando Areas for Rental Investment (Lake Nona)
Zumper – Lake Nona Rental Price Trends (July 2025)
City of Orlando – Growth Projections Report (2024–2050)
LakeNona.com – Lake Nona Community Fact Sheet (Q1 2024)
