FIPS 12095 · population 1,471,937 · part of Orlando, FL
The latest county-level Zillow ZORI is $1,955 per month in 2026-06. It is a typical asking-rent index across rental types—not an arithmetic average, signed lease or quote for one property.
| Bedrooms | HUD monthly FMR | Geography | Measurement boundary |
|---|---|---|---|
| Studio | $1,650 | Orange County, FL | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 1 bedroom | $1,731 | Orange County, FL | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 2 bedrooms | $1,972 | Orange County, FL | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 3 bedrooms | $2,476 | Orange County, FL | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
| 4 bedrooms | $2,924 | Orange County, FL | HUD administrative benchmark; compare with same-bedroom listings, never treat it as observed asking rent. |
Zillow asking rent, ACS gross rent and HUD FMR describe different housing universes. They remain separate and no metro, city or neighboring-county value replaces missing county evidence.Zillow pulled 2026-07-26 · HUD pulled 2026-07-26
Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.
Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.
Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.
Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2021-2025; latest 2025 vs 2024 · pulled 2026-08-02. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.
BEA per-capita personal income divides all personal income by the county population. It is broader than wages, but it is not household income or a measure of what renters can afford.
HUD CHAS separates renter households by income relative to local HAMFI. Moderate burden means housing costs above 30% through 50% of income; severe burden means more than 50%.
These Apartment List observations match the exact county Census code 12095. They are kept separate from Zillow asking rent, Census occupied-home rent and wider metro measures.
Monthly overall-rent index; missing observations are not filled from another geography.
Orange County offers a selective, not broad, acquisition case. Zillow's 2026-06 median home value is $404,959, down 2.24%, while published median asking rent is $1,955, up 0.12%; supplied gross yield is 5.79% before costs. The tension is income stability against price softness, but the yield is not a net return. FHFA's separately labeled 2025 annual repeat-transaction index points upward, challenging Zillow's direction; it is not a home value, and its vintage and method cannot be combined with Zillow's. Investigate asset-level deals; investors needing current rent growth should be cautious.
Market rent remains distinct from HUD support: HUD's FMR is $1,972, a payment standard rather than an asking-rent estimate. At a 0.76% effective property-tax rate, carrying costs already make the headline yield a pre-cost metric rather than a cash-flow result. The rent evidence is therefore usable for gross-rent underwriting, but it does not establish a durable net return without property-specific expenses.
Demand is mixed rather than clearly expanding. QCEW covered employment grew 0.46% and average weekly wage rose 4.06% to $1,357; the largest disclosed private supersector is leisure and hospitality. Those are workplace covered-job measures, not resident employment or the whole economy. Tax-return migration was net -3,916, yet incoming movers' average AGI exceeded outgoing movers' by $5,221, a favorable income mix that does not erase the outflow. Realtor.com MLS evidence shows 5,473 active listings, 66 median days on market and 21.80% price-reduced listings; these are asking-market conditions, not closed-sale demand. Investors represented 12.89% of 14,688 purchase mortgages, meaningful but minority participation.
Risk limits are central. Inland flood is the dominant hazard, and modeled annual building-value loss is 0.14%; verify parcel flood zone, elevation, drainage, insurance, deductible and exclusions before relying on the headline yield. The record lacks insurance premiums, vacancy, management, repairs, financing terms, closed-sale prices and tenant-level affordability. Those gaps prevent net-yield, cash-flow and sale-price validation. Next checks should be a parcel-level flood and insurance quote, expense-backed rent roll, comparable closed sales and submarket migration and tenant-demand review; county evidence does not establish metro or property-level representativeness.
This view uses 12 direct Zillow ZIP markets matched to Census ZCTAs. Each ZIP is assigned by its largest HUD residential county share; this is not an exhaustive county inventory.
Within the selected direct-evidence ZIP/ZCTA matches, the decision is not whether Orange County has one rent level but how much ZIP-level price range a household can support. Zillow ZORI, a typical observed asking-rent index, runs from $1,605 in 32839 to $2,337 in 34787—a $732 spread—with a selected-set median of $1,816. The spread is within this selected set, not an all-ZIP county range. A search should therefore start with an acceptable price band and unit configuration rather than treating a county index as a listing quote. The selected observations show movement in both directions, so the current index range should not be converted into a uniform near-term expectation.
Source alignment matters more than ranking these figures. Each serves a different program or market-use question. In 34787, ZORI’s $2,337 is 99.4% of HUD’s $2,350 two-bedroom FMR; in 32835, it is $1,757 versus $2,220, or 79.1%. HUD FMR is a bedroom-specific administrative standard, not asking rent, so the percentages only describe separation between measures; they do not establish a discount, affordability result, or an eligible unit. Separately, ACS five-year ZCTA median gross rent ranges from $1,453 to $2,276, while the county ACS median-gross-rent estimate is $1,775. These survey estimates are neither substitutes for Zillow’s asking-rent index nor values to average with FMR.
ACS affordability and vacancy indicators create a separate decision screen. Across the selected ZCTAs, the share of renter households spending at least 30% of income on rent ranges from 49.2% to 65.7%, compared with 59.5% countywide. Vacancy rates range from 4.0% to 26.5%. The low-burden endpoint also has the low vacancy endpoint, whereas 32821’s 26.5% vacancy estimate coexists with a 62.4% burden share. This contrast does not show that vacancy causes or resolves financial pressure: the measures have distinct meanings and should not be used to predict one another. They do not describe a particular vacant rental listing. For a search, burden is financial-stress context and vacancy is stock-status context; current unit availability still needs confirmation.
Coverage and crosswalk limits are material. The selected direct-evidence set shows 12 ZIP/ZCTA matches from 36 eligible matches and covers 122,985 renter households, so it is not a countywide inventory. The evidence should be used for screening, not as a substitute for direct property review. Display assignment uses the county with the largest HUD residential-address share; 32792, at 60.2%, therefore retains a cross-county component. Census ZCTAs also are statistical areas rather than USPS delivery ZIPs. Before choosing a property, verify its current quote, bedroom count, utilities and fees, lease terms, availability, and address geography. Treat no index, survey estimate, or FMR as a property-level quote.
36 ZIP profiles passed the county gate; the 12 with the most renter households are shown.
| ZIP / ZCTA | Zillow asking rent | ACS gross rent | HUD 2BR | Burden 30%+ | Vacancy | Income screen | HUD county share |
|---|---|---|---|---|---|---|---|
| 32839 | $1,605 | $1,503 | $1,850 | 64.7% | 16.4% | $64k | 100.0% |
| 32822 → | $1,682 | $1,719 | $2,010 | 64.6% | 8.7% | $67k | 100.0% |
| 32792 | $1,681 | $1,710 | $2,040 | 61.7% | 7.7% | $67k | 60.2% |
| 32808 | $1,700 | $1,453 | $1,740 | 65.7% | 6.5% | $68k | 100.0% |
| 34787 → | $2,337 | $2,276 | $2,350 | 51.8% | 7.7% | $93k | 97.9% |
| 32811 | $1,619 | $1,614 | $1,960 | 55.6% | 19.3% | $65k | 100.0% |
| 32835 | $1,757 | $1,848 | $2,220 | 56.2% | 6.9% | $70k | 100.0% |
| 32828 | $2,170 | $1,966 | $2,260 | 49.2% | 4.0% | $87k | 100.0% |
| 32801 | $1,915 | $1,851 | $2,220 | 49.3% | 14.8% | $77k | 100.0% |
| 32837 | $1,997 | $2,009 | $2,310 | 53.1% | 14.4% | $80k | 100.0% |
| 32821 | $1,904 | $1,913 | $2,170 | 62.4% | 26.5% | $76k | 99.9% |
| 32825 | $1,875 | $1,859 | $2,100 | 55.1% | 5.3% | $75k | 100.0% |
Open a five-digit report for asking rent, affordability, rent history and resale liquidity. Each row keeps its ZIP/ZCTA measurement scope.
| ZIP report | City label | Zillow rent | 1Y change | ACS burden 30%+ | Population |
|---|---|---|---|---|---|
| ZIP 34787 rental reportOrange County | Winter Garden, FL | $2,337 | ▲ 0.2% | 51.8% | 101,441 |
| ZIP 32824 rental reportOrange County | Orlando, FL | $2,289 | ▲ 2.9% | 49.4% | 58,368 |
| ZIP 32712 rental reportOrange County | Apopka, FL | $2,225 | ▼ 1.4% | 52.3% | 50,583 |
| ZIP 32828 rental reportOrange County | Orlando, FL | $2,170 | ▲ 0.4% | 49.2% | 69,202 |
| ZIP 32832 rental reportOrange County | Orlando, FL | $2,096 | ▼ 0.5% | 57.1% | 40,196 |
| ZIP 32803 rental reportOrange County | Orlando, FL | $2,055 | ▲ 2.2% | 36.7% | 22,152 |
| ZIP 32804 rental reportOrange County | Orlando, FL | $2,029 | ▲ 0.8% | 39.9% | 21,720 |
| ZIP 32837 rental reportOrange County | Orlando, FL | $1,997 | ▼ 0.0% | 53.1% | 53,671 |
| ZIP 32826 rental reportOrange County | Orlando, FL | $1,952 | ▼ 1.3% | 51.9% | 29,006 |
| ZIP 32801 rental reportOrange County | Orlando, FL | $1,915 | ▼ 1.1% | 49.3% | 17,046 |
| ZIP 32817 rental reportOrange County | Orlando, FL | $1,910 | ▼ 0.8% | 56.1% | 37,014 |
| ZIP 32821 rental reportOrange County | Orlando, FL | $1,904 | ▼ 1.7% | 62.4% | 26,161 |
| ZIP 32703 rental reportOrange County | Apopka, FL | $1,887 | ▼ 2.4% | 61.3% | 59,269 |
| ZIP 32825 rental reportOrange County | Orlando, FL | $1,875 | ▼ 0.7% | 55.1% | 63,698 |
| ZIP 32835 rental reportOrange County | Orlando, FL | $1,757 | ▼ 1.7% | 56.2% | 49,205 |
| ZIP 32810 rental reportOrange County | Orlando, FL | $1,711 | ▼ 0.4% | 53.2% | 36,927 |
| ZIP 32822 rental reportOrange County | Orlando, FL | $1,682 | ▼ 1.2% | 64.6% | 67,081 |
| ZIP 32839 rental reportOrange County | Orlando, FL | $1,605 | ▼ 1.5% | 64.7% | 53,242 |
Zillow ZORI is an asking-rent index. ACS burden and population describe the Census ZCTA; missing observations remain n/a.
Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.
Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.
0.140% of building value expected lost per year
$2,967 median annual bill
51,573 in · 55,489 out
$66,912 arriving · $61,691 leaving
1,893 of 14,688 mortgages
Listing price is an asking price, not a closed sale. Quality-flagged county rows are withheld instead of displayed.
A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.
| County | Population | Price | Rent | Yield | Hazard |
|---|---|---|---|---|---|
| Orange County | 1,471,937 | $405k | $1,955 | 5.8% | inland flooding |
| Seminole County | 481,470 | $405k | $1,911 | 5.7% | inland flooding |
| Osceola County | 427,415 | $363k | $2,091 | 6.9% | inland flooding |
| Lake County | 412,924 | $364k | $2,055 | 6.8% | inland flooding |
No. It is published median asking-rent evidence; HUD FMR is a payment standard, not an estimate of asking rent.
FHFA supplies a repeat-transaction appreciation index, not a dollar home value. Its observation has a separate vintage and method from Zillow's.
It measures annual average covered jobs located at workplaces in the county, not resident employment, unemployment, a forecast, or a metro labor series.