Investing in Lake Nona: a guide for the international investor

Character of the area

Lake Nona is a master-planned community in southeast Orlando, within Orange County, built around "Medical City": a cluster of hospitals, research centers, universities and life-sciences offices. Unlike tourist Orlando, the anchor here is professional employment — physicians, healthcare staff, researchers, engineers and airport personnel — and that defines who rents.

The build is recent and orderly: wide boulevards, bike paths, lakes, workplaces and retail within a short distance of housing. It sits about 15 minutes from Orlando International Airport (MCO) and about 30 minutes from the Disney parks, tying it to both employment and the region's visitor economy. Investors here typically look for an annual-rental asset with a stable tenant in a planned-growth setting, rather than a vacation home.

Investment profile

Lake Nona is, above all, an annual (long-term) rental market — not a vacation-rental market. Orange County broadly restricts short-term rentals (STR, stays under 30 days) outside designated tourism zones: most of the unincorporated county requires a 30-night minimum in residential areas, and nightly STR is allowed only in commercial districts (C-1/C-2/C-3), industrial zones or Planned Developments where expressly authorized, plus the "vacation home" district concentrated near Disney (mainly ZIP codes 32836, 32830 and parts of 32837). The area's active vacation-rental market tends to sit in neighboring Osceola County (Kissimmee/Four Corners), not in Orange.

On top of that, Lake Nona is dominated by HOAs and master-planned communities that limit use to annual or long-term rental, and HOA/CC&R rules prevail even where zoning might allow STR. So the realistic approach here is renting to professional tenants on annual leases. Important: STR eligibility must be verified property by property (municipal/county zoning plus HOA/CC&R rules) and requires a state DBPR license; rules change and eligibility is never guaranteed. Per Redfin, the median sale price in Orange County was US$444,000 (quarter ended May 2026).

Housing and costs: HOA, CDD and taxes

Inventory in Lake Nona is mostly new construction — single-family homes, townhomes and condos in new resort-style communities (we name no builder brands). As a benchmark, across metro Orlando we use a conservative band of US$380,000 to US$600,000 depending on the area (urban Orlando at the low end; Lake Nona, Winter Garden/Horizon West and new construction at the high end). These are estimates we confirm property by property.

Before buying, understand three recurring costs. The CDD (Community Development District) is a bond that funds the community's infrastructure — roads, drainage, parks, amenities — and appears as a line on the annual property-tax bill until the bond matures; many newer Lake Nona communities carry a CDD. The HOA (homeowners association) charges periodic dues and enforces covenants (CC&R) that govern use, upkeep and, often, leasing.

Property tax is administered by the Orange County Property Appraiser and the Orange County Tax Collector and is paid on the annual bill; a non-resident investor does not qualify for the "homestead" exemption. Add insurance (home and, depending on location, additional coverage), which varies by property. All of this is general information and not tax advice; confirm every figure with your accountant and the county's official records.

Daily life and location

Daily life in Lake Nona revolves around Narcoossee Road and Lake Nona Boulevard, with supermarkets, restaurants, gyms and medical offices minutes away. The area has parks, trails and lakes and sits minutes from public and private schools, retail and healthcare services.

For the professional tenant, location is the big draw: about 15 minutes to Orlando International Airport (MCO) via Narcoossee Road and SR 417, and about 30 minutes to the Disney parks via SR 417 and SR 528 (the Beachline). SR 417 and SR 528 connect Lake Nona to the rest of the metro, the airport and the coast. Medical City concentrates the healthcare and research employment that underpins annual-rental demand. For the remote owner, this mix — new housing, nearby services and fast airport access — makes it easier both to find a tenant and to manage the property.