Orlando’s Economic Surge: Why the City Beautiful Is the Nation’s Growth Capital
May, 2025
Orlando has always been more than just the home of theme parks and sunshine; but now it’s officially one of the most dynamic economic engines in the United States. In 2024, Orlando’s metro area led the nation in both population and job growth, signaling a transformative shift in its economic landscape.
Population Growth: A Magnet for New Residents
According to the U.S. Census Bureau, Orlando’s population expanded by 2.7% in 2024, surpassing Florida’s overall growth rate of 2.0% and ranking highest among the country’s 30 most populous regions. This growth added approximately 76,000 new residents between July 2023 and July 2024, averaging about 1,500 newcomers per week. Notably, international migration has become a key driver, accounting for a significant portion of this influx.
This surge has propelled Orlando into the ranks of the nation’s top 20 most populous regions, reflecting its increasing appeal as a place to live, work, and invest.
“Orlando’s population expanded by 2.7% in 2024, surpassing Florida’s overall growth rate of 2.0% and ranking highest among the country’s 30 most populous regions.”
Job Market: Leading the Nation
In tandem with population growth, Orlando’s job market has experienced remarkable expansion. Revised data from the Florida Department of Commerce indicates that the region added 37,500 jobs in 2024, marking a 2.5% year-over-year employment growth, the highest among the 30 largest U.S. metropolitan areas. This achievement marks the first time since 2016 that Orlando has held the title of fastest-growing employment center in the nation.
The growth spans various sectors, with significant contributions from healthcare and tourism, which added 6,900 and 7,700 jobs respectively. Additionally, the information technology and financial services sectors have outperformed national trends, bolstered by expansions from companies like ThreatLocker, BNY Mellon, and Charles Schwab.
“The region added 37,500 jobs in 2024, marking a 2.5% year-over-year employment growth, the highest among the 30 largest U.S. metropolitan areas.”
Implications for Commercial Real Estate
“From industrial to retail to medical office, the opportunity pipeline in Central Florida continues to expand. We’re seeing it firsthand—whether it’s through site selection, development, or investment strategy, the need for thoughtful, long-term planning has never been more critical.” – Trent Scott, CCIM
Orlando’s position as the fastest-growing large region in the U.S. in 2024 puts the area at a unique advantage, offering the opportunity to align rapid growth with forward-thinking development strategies. This dual surge in population and employment creates substantial opportunities for commercial real estate, as the demand for housing, office space, retail centers, and industrial facilities continues to rise. With the region’s economic momentum accelerating, developers and investors have a timely opportunity to deliver projects that not only meet market demand but help shape the future of Central Florida’s urban landscape.
The Future Outlook
Orlando’s trajectory suggests continued expansion, driven by its diversified economy, strategic location, and quality of life offerings. As the city attracts a skilled workforce and fosters innovation across industries, it stands as a compelling destination for business and investment.
For stakeholders in commercial real estate, understanding and engaging with Orlando’s growth dynamics is essential. The city’s ascent offers a blueprint for leveraging demographic and economic trends to inform strategic development decisions.
Orlando’s evolution from a tourism-centric locale to a multifaceted economic powerhouse underscores its potential as a hub for sustainable growth and prosperity.
Interested in tapping into Orlando’s momentum? Contact us to explore how we can help you invest, lease, or develop in one of the fastest-growing regions in the country.