Sept. 23--EMBARGOED TILL 12:01 AM MONDAY
Osceola County's Celebration community had the Orlando area's sharpest spike in rental rates during the last year, a new report shows.
Apartments and houses in the Walt Disney World community jumped more than 18 percent during the last year -- a increase six times greater than that of the Orlando area, according to an August report released Monday by Zillow. The company tracks rental rates throughout the country.
In addition to Celebration's fast-rising rents, median rents in Winter Park and Kissimmee both increased about 8.2 percent during the last year. Only a few areas, including Umatilla and Tavares, experienced softening rents during the last year.
Orlando's rental rates are increasing slowly compared to the area's fast-rising home prices. But Orlando's rentals are much closer to national averages than the region's home prices, the Zillow report shows.
The median rent in Orlando during August was $1,246 _ about $50 less than the national average. In comparison, the median Orlando house price was $143,000_ about $20,000 less than the national average.
The region's most expensive rents during the August were in Windermere, $2,244; Winter Park, $1,666; and Lake Mary, $1,594. The most affordable Central Florida cities for renters during August were: Leesburg, $941; Poinciana, $948; Pine Hills, $974.
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