Orange County, FL, which includes the Orlando Metro, approved an ordinance this week that puts a rent-control measure on the November ballot that will let voters decide whether to prevent owners of existing apartments from raising rents at a rate higher than the inflation rate for the region.
If the ordinance were effective today, it would put the brakes on still red-hot rent growth in Orlando, which is far outpacing the inflation rate.
According to CoStar data, the Orlando area's rent growth in July was 16.2%, the highest of any metro in the country; the rent growth rate for Orlando at the end of June was 18.7%.
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