Florida is one of nine US states that do not impose an income tax on the population. It was also one of the few states without a minimum wage for a long time, but in 2004, the situation changed: voters passed an amendment to the constitution that set a minimum rate.
Now, its amount is adjusted for inflation every six months.
These factors contribute to improving the quality of life of local residents. In 2019, Orlando ranked 17th among the 100 best cities in the US, including due to affordable housing prices and developed infrastructure.
This was also shown by a recent survey conducted by the portal niche.com: 86% of the 1,400 residents surveyed described life in Orlando as excellent in terms of quality, work opportunities, and doing business.
Orlando is a comfortable city for families, and this applies to both visitors and locals. There are schools and universities here, and the presence of famous amusement parks for children and adults contributes to the influx of families with children. The city lives by the motto “You will never outgrow it” (you will never be too old to live there).
The labor market in Orlando has fully recovered from the contraction in the early months of the pandemic, the city still has many people employed in the tourism and hospitality industries, which maintains a constant demand for housing.
It is worth noting that about 45% of residential real estate in Orlando is rented. Over the past 12 months, this segment has seen significant growth: the increase in rates was 13.1%, which was one of the highest rates among all the states in America.