How does the short-term rental market affect Orlando apartment investment?
The short-term rental (Airbnb/VRBO) market in Orlando is concentrated in specific corridors, primarily the Kissimmee/US-192 vacation home zone and Disney-adjacent neighborhoods in Osceola County, and has limited direct competition with purpose-built apartment investment outside those corridors. The relevant impact on multifamily investment is indirect: in submarkets where short-term rental activity is concentrated, long-term apartment operators must price within range of short-term rental alternatives. The more significant STR impact is on the supply side: single-family homes converted to short-term rental remove potential long-term rental supply from the traditional apartment market, which tightens effective apartment vacancy and supports rents. For institutional apartment investors, the STR market is a minor competitive factor in most submarkets.