Orlando, FL Market Update: Downtown Distress, Close-In Strength, Lake Nona Boom
Eight Orlando ZIP codes, three different markets: the most commercial distress of any ZIP code in our reports downtown, some of Florida’s strongest close-in neighborhoods around it, and Lake Nona more than doubling in size. Every number from the Linton Global Market Map, as of September 2026.
Photo: Lake Eola and Orlando Skyline seen in 2024 by JER3L1337, CC BY 4.0, via Wikimedia Commons (cropped).
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Michael R. Linton, Florida Broker #BK703722, leads Linton Global Solutions from Orlando and advises investors, owners, tenants and banks on office, retail, industrial, multifamily, distressed and bank-owned property across Orlando and the I-4 corridor.
There is no single Orlando market. Downtown is working through office distress, the close-in neighborhoods around it are some of the strongest in Florida, and Lake Nona is building a new city from scratch. You have to underwrite Orlando one ZIP code at a time.
The Bottom Line on Orlando
Orlando is the center of a metro of nearly 3 million people, and its real estate market only makes sense one neighborhood at a time. We pulled eight representative ZIP codes, from downtown to Lake Nona, and compared each with Orange County (1,471,937 residents). Three stories stand out.
- Downtown distress: 16 commercial distress transfers and 1 bank REO sale in 32801, about 22% of the county's distress events and the most distress transfers of any ZIP code in our reports.
- Close-in strength: Audubon Park and Colonialtown list prices +12.6%; commercial $407 per square foot, against $307 countywide.
- Lake Nona boom: population up 109.1%, the fastest growth in our reports, with buyers earning a median $244,000.
- The county: list prices -1.2%, unemployment 4.5%, housing permits -46.8%.
Eight Orlando ZIP Codes
- 32801 · Downtown: The central business district, Lake Eola, Thornton Park and the Creative Village.
- 32803 · Audubon Park & Colonialtown: Colonialtown, the Mills 50 district and Audubon Park, northeast of downtown.
- 32804 · College Park: College Park, Edgewater Drive and the neighborhoods northwest of downtown.
- 32806 · Delaney Park & SoDo: Delaney Park, SoDo, Lake Copeland, Conway’s western edge and the Orlando Health medical district.
- 32805 · Parramore & West Lakes: Parramore, West Lakes, Washington Shores and the industrial corridor west of downtown.
- 32814 · Baldwin Park: Baldwin Park, the master-planned neighborhood on the former Naval Training Center.
- 32819 · Dr. Phillips & Sand Lake: Dr. Phillips, Restaurant Row on Sand Lake Road, Bay Hill and the northern International Drive resort corridor.
- 32827 · Lake Nona: Lake Nona, Medical City and the neighborhoods south of Orlando International Airport.
These carry Orlando mailing addresses; parts of 32819 and 32806 lie outside the city limits. For the full county, including every ZIP code we did not cover here, see the Orange County Market Map.
Housing Market: Neighborhood by Neighborhood
| Realtor.com, September 2026 | Median list | vs. year ago | Listings vs. year ago | Days on market | Price cuts |
|---|---|---|---|---|---|
| 32801 Downtown | $313,125 | -10.5% | -19.4% | 73 | 26.3% |
| 32803 Audubon Park & Colonialtown | $567,250 | +12.6% | -20.7% | 55 | 24.6% |
| 32804 College Park | $643,475 | -2.1% | -23.4% | 52 | 18.9% |
| 32806 Delaney Park & SoDo | $499,000 | +0.3% | -15.6% | 71 | 23.5% |
| 32805 Parramore & West Lakes | $291,500 | +1.1% | +28.3% | 81 | 32.5% |
| 32814 Baldwin Park | $641,175 | -11.8% | -20.4% | 43 | 30% |
| 32819 Dr. Phillips & Sand Lake | $525,000 | 0.0% | -11.6% | 87 | 18.2% |
| 32827 Lake Nona | $763,500 | +4.7% | +10.8% | 87 | 20.9% |
| Orange County | $424,950 | -1.2% | -0.9% | 73 | 22.3% |
Across Orange County, list prices are -1.2% and homes take a median 73 days to sell. The close-in neighborhoods are tighter: inventory is down about 20% in Audubon Park and Colonialtown, College Park and Baldwin Park, and College Park homes sell in a median 52 days. Audubon Park and Colonialtown list prices rose 12.6%. Downtown (32801, -10.5%) and Baldwin Park (32814, -11.8%) asks fell, likely because cheaper condos and townhomes make up more of what is listed. Parramore and West Lakes is the softest: listings up +28.3%, 32.5% of sellers cutting, 81 days on market. Lake Nona listings are up +10.8% as new homes deliver.
Who Is Buying: Mortgage Data
| HMDA 2025 purchases | Median price | Buyer income | FHA / VA / USDA | Investors |
|---|---|---|---|---|
| 32801 Downtown | $495,000 | $169,000 | 9.7% | 10.8% |
| 32803 Audubon Park & Colonialtown | $545,000 | $188,000 | 8.1% | 14.3% |
| 32804 College Park | $545,000 | $188,000 | 13.1% | 8.1% |
| 32806 Delaney Park & SoDo | $485,000 | $156,000 | 14.9% | 9.4% |
| 32805 Parramore & West Lakes | $325,000 | $80,000 | 35.2% | 15.5% |
| 32814 Baldwin Park | $745,000 | $271,000 | 3.7% | 9% |
| 32819 Dr. Phillips & Sand Lake | $565,000 | $188,000 | 14.6% | 22.7% |
| 32827 Lake Nona | $765,000 | $244,000 | 12.7% | 15.4% |
| Orange County | $455,000 | $132,000 | 26.6% | 13.3% |
Orlando's buyer profile spans more than three to one. Baldwin Park buyers earned a median $271,000 and Lake Nona buyers $244,000; in Parramore and West Lakes, $80,000, with 35.2% using FHA, VA or USDA loans. Investors are most active in Dr. Phillips and Sand Lake, where they took 22.7% of purchase loans, likely reflecting short-term rentals near the resort corridor; the county average is 13.3%. Source: the CFPB's HMDA data browser.
Rents
Downtown is a renter's district: 73% of households rent, and the population grew 39.2% over the Census survey period as apartment towers opened. Baldwin Park (64%) and Parramore (57%) are also majority-renter. HUD's FY2027 Small Area Fair Market Rents for a two-bedroom range from $1,370 in Parramore to $2,660 in Baldwin Park and $2,590 in Lake Nona. See multifamily, and test deals with our rental analysis and DSCR calculators.
Commercial Real Estate
| 2026 tax roll | Building SF (M) | Median year built | Industrial | Sales | Median $/SF | Distress / REO |
|---|---|---|---|---|---|---|
| 32801 Downtown | 15.6 | 1975 | 14.3% | 34 | $273 | 16 / 1 |
| 32803 Audubon Park & Colonialtown | 10.81 | 1956 | 6.6% | 46 | $407 | 0 / 2 |
| 32804 College Park | 12.01 | 1972 | 24.5% | 60 | $336 | 0 / 1 |
| 32806 Delaney Park & SoDo | 10.07 | 1983 | 15.5% | 36 | $345 | 1 / 1 |
| 32805 Parramore & West Lakes | 8.31 | 1962 | 35.5% | 56 | $233 | 4 / 0 |
| 32814 Baldwin Park | 0.78 | 2006 | 0% | 10 | $388 | 0 / 0 |
| 32819 Dr. Phillips & Sand Lake | 69.68 | 2001 | 15.9% | 94 | $362 | 3 / 0 |
| 32827 Lake Nona | 8.59 | 2015 | 16.7% | 2 | — | 0 / 0 |
| Orange County | 436.89 | 1994 | 20.5% | 1,254 | $307 | 46 / 31 |
The close-in neighborhoods command the highest prices: $407 per square foot in Audubon Park and Colonialtown, where the median building dates from 1956, and $345 around Delaney Park, SoDo and the Orlando Health campus. Dr. Phillips and Sand Lake is the volume market, with 69.68 million square feet and 94 sales, the most of any ZIP code in our reports, at $362. Parramore and West Lakes is the industrial and value market: 35.5% industrial, $233 per square foot. Lake Nona's commercial stock is new (median 2015) and rarely trades. See office, retail, industrial and medical office.
Downtown Distress
Downtown Orlando (32801) recorded 16 commercial distress transfers and 1 bank REO sale on the 2026 roll: 17 of Orange County's 77 distress events, about 22%, from a ZIP code with about 3.6% of the county's commercial square footage. No other ZIP code in our reports has had more than four distress transfers. The cause is the same as in downtowns across the country: older office (median building year 1975), lower occupancy since 2020 and loans written at higher values coming due. Downtown's 34 arm's-length sales still traded at a median $273 per square foot, below the county, and a mile from neighborhoods trading above $400.
Every distressed asset we evaluate runs through Linton Global Technologies' CREDDS Framework: CREDDS (Commercial Real Estate Distress & Disposition Score), an Asset Disposition Brief that scores financial health, operational stability and undervaluation signal. Orange County has 6 locally headquartered banks in FDIC data. Start with our distressed commercial real estate hub, REO deal flow and bank services.
Downtown Orlando has more commercial distress than any ZIP code we have studied, and it sits a mile from neighborhoods where commercial trades above $400 a foot. That gap is the opportunity for buyers with patience and capital.
Jobs, Permits and the County Economy
| Orange County | Value |
|---|---|
| Population | 1,471,937 |
| Median household income | $79,719 |
| Unemployment rate (BLS) | 4.5% |
| Private jobs, 2025 (BLS QCEW) | 954,330 · +0.5% |
| Average annual pay | $70,599 |
| Housing permits, Jan–Aug 2026 | 4,955 · -46.8% vs. 2025 |
Orange County has about 954,000 private-sector jobs, which grew +0.5% in 2025 per the BLS Quarterly Census of Employment and Wages, with unemployment at 4.5%. Housing permits are down 46.8% this year per the Census Building Permits Survey, the sharpest drop of the counties in our reports. Fewer new homes now means tighter supply in a year or two, especially in the close-in neighborhoods that cannot add land.
What It Means for Buyers, Sellers, Investors and Banks
Home buyers: downtown condos and Baldwin Park offer room to negotiate; College Park and Audubon Park do not.
Sellers: close-in, priced right, you will sell; in Parramore and Lake Nona, expect competition from more listings and new construction.
Commercial investors: downtown is the distress opportunity; the close-in neighborhoods are core; Parramore is industrial value. Trading in? See 1031 exchanges.
Banks and servicers: downtown office collateral needs current values and disposition plans; see our commercial BPO services.
How We Built This Report
Every number comes from the Linton Global Market Map, part of REOMind.ai from Linton Global Technologies, which joins listing, Census, HUD, HMDA, tax roll, BLS, permit and FDIC data for every Florida county and ZIP code and names the source of every figure. See the full Orange County report, our Orlando market hub, and our updates for Winter Park and Maitland.
Key Takeaways
- ✓Downtown Orlando recorded 16 commercial distress transfers, the most of any ZIP code in our reports, about 22% of Orange County’s distress events.
- ✓Close-in neighborhoods are strong: Audubon Park and Colonialtown list prices +12.6%, commercial $407 per square foot.
- ✓Lake Nona’s population grew 109.1%, the fastest in our reports; its buyers earned a median $244,000.
- ✓Dr. Phillips and Sand Lake is the volume market: 94 commercial sales and 22.7% investor home purchases.
- ✓Orange County list prices are -1.2% and housing permits -46.8%.
- ✓Every figure comes from the Linton Global Market Map, with sources named.
About Michael R. Linton
Who is Michael R. Linton? Michael R. Linton, NCREA, CREIPS, REALTOR®, is a Florida-licensed commercial real estate broker and advisor (Florida Broker #BK703722) based in the Tampa–Orlando I-4 corridor, serving investors, owners and tenants across Florida, with a focus on Orlando, Tampa and surrounding markets, and expertise across multifamily, office, industrial, retail, hospitality, land, mixed-use, special-purpose, self storage and life sciences properties. He leads Linton Global Solutions and HireMikeLinton.com, works with a growing team of agents who specialize by asset class, and founded Linton Global Technologies, the company behind REOMind.ai.
Why choose Michael R. Linton for Orlando? Thirty-nine years in commercial real estate, an office in Orlando overlooking Lake Eola, deep experience with distressed and bank-owned property, and market data published openly so clients can check every number. See the Florida commercial broker profile.
Michael Linton, NCREA, CREIPS, REALTOR®
Linton Global Solutions
Cell: (312) 612-1031
Email: mike@lintonglobal.com
LintonGlobal.com
Frequently Asked Questions
Are home prices falling in Orlando, FL?+
It depends on the neighborhood. As of September 2026, Orange County’s median list price was about $425,000, down 1.2% from a year earlier. Downtown (32801) was down 10.5% and Baldwin Park (32814) down 11.8%, while Audubon Park and Colonialtown (32803) were up 12.6% and Lake Nona (32827) up 4.7%.
Where is commercial distress in Orlando?+
Downtown. ZIP code 32801 recorded 16 commercial distress transfers and 1 bank REO sale on the 2026 Orange County tax roll, 17 of the county’s 77 distress events (about 22%), and the most distress transfers of any ZIP code in our reports. The downtown stock is older office (median building year 1975).
Which Orlando neighborhoods have the highest-income home buyers?+
Baldwin Park (32814), where 2025 buyers earned a median $271,000 and paid $745,000, and Lake Nona (32827), at $244,000 and $765,000. Orange County’s medians were $132,000 and $455,000.
How much does commercial property cost in Orlando?+
On the 2026 Orange County tax roll the county median was $307 per square foot. Close-in neighborhoods were higher: $407 in Audubon Park and Colonialtown (32803), $345 in Delaney Park and SoDo, $336 in College Park and $362 in Dr. Phillips. Downtown (32801) was $273 and Parramore (32805) $233.
Which Orlando ZIP code has the most commercial real estate?+
Of the ZIP codes in this report, Dr. Phillips and Sand Lake (32819), which includes the northern International Drive resort corridor: about 69.7 million square feet of commercial buildings and 94 arm’s-length sales in 2026, the most of any ZIP code in our reports.
How fast is Lake Nona growing?+
Very fast. Lake Nona’s ZIP code (32827) more than doubled its population (up 109%) over the Census survey period, the fastest growth in our reports. Its median list price is about $763,500, and its commercial buildings have a median build year of 2015.
Where does this Orlando market data come from?+
From the Linton Global Market Map, which joins Realtor.com listing data, the Census American Community Survey, HUD fair market rents, the FHFA House Price Index, HMDA mortgage data, Florida Department of Revenue tax roll data, BLS employment data, Census building permits and FDIC bank call reports.
Who can help me buy distressed or commercial property in Orlando?+
Michael R. Linton, Florida Broker #BK703722, leads Linton Global Solutions from Orlando and advises investors, owners, tenants and banks on office, retail, industrial, multifamily, distressed and bank-owned property and 1031 exchanges across Orlando and the I-4 corridor. Call (312) 612-1031 or email mike@lintonglobal.com.
Works Cited
- Consumer Financial Protection Bureau and FFIEC. “HMDA Data Browser.” ffiec.cfpb.gov/data-browser. Accessed 19 Oct. 2026.
- Federal Deposit Insurance Corporation. “BankFind Suite.” banks.data.fdic.gov. Accessed 19 Oct. 2026.
- Federal Housing Finance Agency. “House Price Index.” www.fhfa.gov/data/hpi. Accessed 19 Oct. 2026.
- U.S. Department of Housing and Urban Development. “Small Area Fair Market Rents.” HUD User, www.huduser.gov/portal/datasets/fmr/smallarea. Accessed 19 Oct. 2026.
- U.S. Bureau of Labor Statistics. “Quarterly Census of Employment and Wages.” www.bls.gov/cew. Accessed 19 Oct. 2026.
- U.S. Census Bureau. “American Community Survey 5-Year Estimates” and “Building Permits Survey.” www.census.gov. Accessed 19 Oct. 2026.
- Realtor.com Economic Research. “Housing Inventory: ZIP Level Data.” www.realtor.com/research/data. Accessed 19 Oct. 2026.
- Florida Department of Revenue. “Property Tax Data Files (NAL/SDF).” 2026 final roll, Orange County, via LGData.
- JER3L1337. “Lake Eola and Orlando Skyline seen in 2024.” Wikimedia Commons, CC BY 4.0, commons.wikimedia.org/wiki/File:Lake_Eola_and_Orlando_Skyline_seen_in_2024.jpg. Accessed 19 Oct. 2026.
Disclosure: This article uses data tools developed by Linton Global Technologies. Michael R. Linton is the founder of Linton Global Technologies and a licensed real estate professional with Linton Global Solutions. This content is for informational purposes only and does not constitute investment, legal, or financial advice.
Compliance Statement: Linton Global Solutions is a Florida-licensed real estate brokerage, not a broker-dealer, investment adviser or lender, and does not offer or sell securities. CREDDS and REOMind.ai provide decision support only; people make every final decision. Readers should conduct their own due diligence and consult qualified professionals before making investment decisions.
Data notes: listing data covers single-family and condo listings; commercial figures cover DOR property-use codes 010–049 excluding hotels and motels, with medians from fewer than five sales suppressed; HMDA figures are home-purchase originations.