Moving to Orlando in 2024? Complete Moving Guide

Planning to move to Orlando?

Orlando is a perfect place to work, live and raise a family. The family-friendly city has a lot to offer to everyone like beautiful theme parks, beaches, and a vibrant downtown area. The city is relatively affordable with a lower cost of living. The climate in the city is subtropical which means summers will be hot and humid with mild winters. Since Orlando is a tourist destination traffic can be a problem. You can explore restaurants, bars, shops and beaches in the city. 

• Quick Facts of Orlando
• Top reasons to move to Orlando
• Pros & Cons of Living in Orlando
• Best Neighborhoods in the Orlando
• Cost of living in Orlando
• Orlando job market
• Major industries in Orlando
• Top Career Options in Orlando
• Best things to do in Orlando
• Education System in Orlando
• Type of insurance required in Orlando
• Taxes in Orlando

Before you move here, you must know the cost of all the basic expenses that you have to pay. This will also help you in estimating the moving cost. 

Here we have listed the cost of all the expenses in Orlando- 

Source: Cost of Living in Orlando, FL - RentCafe: https://www.numbeo.com/cost-of-living/in/Orlando

Housing Market in Orlando 

The housing market in Orlando is currently experiencing a cooling period after a period of rapid growth. The home prices in the city are still up but the speed of growth has slowed. The median home price in Orlando is $455,120 which is 3.6% higher than the previous year. Several factors that affect the housing market in Orlando are increasing interest rates, inflation and economic uncertainty. 

Average rental cost in Orlando

The average rental cost in Orlando ranges between $1,940 and $2,370. The cost of the rent depends on the location of the property, the type of property and the age of the property. 

The job market in Orlando is thriving because of the booming tourism and hospitality industry. The city is home to world-famous theme parks which contribute to the strong job market. 

The unemployment rate in the city is low which is currently 3.1% which is lower than the national average. 

Source: Bureau of Labor Statistics, Indeed, Glassdoor

Median Salary in Orlando

The median salary in Orlando is slightly below the national average that is $67,521.  

Transportation & Navigation in Orlando

Orlando offers multiple modes of transportation which can help you get around the city. The major modes of transportation include public, private, biking and walking. 

Public transport- In Orlando, the Central Florida Regional Transportation Authority (LYNX) operates the bus system which runs around the city and in suburbs. There is SunRail which is a commuter rail system connecting Downtown Orlando and DeLand. 

Private transport- If you are not comfortable commuting in public transport, you can always opt for private transport like ride-sharing services, taxis, Uber, Lyft and rental cars. 

Biking and walking- The city is walkable and bike-friendly. And the city is investing in developing new pedestrian-friendly areas which make the city more walkable. 

Navigation- Navigating the city is easy as there are several navigation apps available online. You can use of these apps to get around the city- Waze, Google Maps, and Apple Maps.

Though there are a few insurances that are not required by law but can help you in emergencies. Here we have explained the different types of insurance required in Orlando- 

Personal Injury Protection (PIP) and Property Damage Liability (PDL) Insurance- Florida is a no-fault state which means your insurance company will pay for your medical expenses regardless of who is at fault in the accident. For both insurance policies minimum required coverage is $10,000. 

Homeowners Insurance- If you own a home in Orlando, then you will need a homeowner’s insurance that will protect your property from any damage that is caused by fire, theft or any other perils. This will provide coverage if someone gets injured on your property. 

Renters Insurance- If you rent an apartment or condo in Orlando, you should buy the renters insurance. This will protect your personal belongings from damage or loss due to theft or fire. 

Auto Insurance- If you own a vehicle in Orlando then you need auto insurance, it is required by law in Orlando. The minimum coverage for auto insurance in Florida is $10,000 in PIP and PDL. 

Health Insurance- This type of insurance is not required by law but it is highly recommended if you need medical care. This will help you cover the cost of doctor visits; hospital stays and prescription drugs. 

Life Insurance- This type of insurance is not required by law but is highly recommended. This type of insurance will help your loved ones in the event of your death to pay bills, mortgages, etc. 

Income Tax- The residents of the US have to pay federal income tax on their worldwide income and the tax rate for income tax depends on the taxable income. Though there is no state income tax in Florida. 

Social Security and Medicare taxes- All the employers and employees have to pay these taxes where both have to pay 6.2% Social Security tax and 1.45% Medicare tax on wages. If you are self-employed then you have to pay a portion for both employer and employee. 

Sales Tax- Florida has a statewide sales tax rate of 6% and there is additional sales tax according to local jurisdiction which can increase the tax rates to 7%. 

Property Tax- In Orlando, the property taxes are levied on different types of real estate including houses, businesses and land. The property tax rate is determined by the assessed value of the property and local tax rates. 

Hotel Tax- There is a 6% hotel occupancy tax in Orlando which has to be paid by the guests who stay in the hotel. 

Disclaimer: The information provided in this guide is for informational purposes only and should not be construed as legal, financial, or professional advice. It is recommended to conduct thorough research and consult relevant experts before making any decisions related to relocation.