Orange County Sinkhole Map
Number of Sinkholes 206
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Orange County FL
Orange County was established in 1845 when Florida was added to the United States. It was one of the 11 counties carved out of Florida’s historic Mosquito County that occupied most of the eastern part of the state. This county was named after the citrus groves that dominated in the area, and Orlando was made the Orange County seat which eventually emerged as the largest inland city of Florida.
Citrus production went off the limelight in Orange County when freezing temperatures during successive winters of 1985‒1986 all but wiped up the local groves. With the remote chance of recovery of citrus-growing and Florida’s rapid population growth, most of the county’s orange plantations were converted to housing developments.
Theme Parks: Boon for Home Markets
Real estate market opportunities and demand for more homes was likewise stimulated with Orange County becoming popular as host to many world-famous theme parks. This immense popularity of the theme parks helped boost demand for homes not only in Orange but also in neighboring real estate markets as well. These theme parks, which draw young and old folks alike, include Universal Studios Orlando, SeaWorld Orlando, and Walt Disney World.
The economic impact of these local tourist destinations could be best appreciated in Walt Disney World’s operations that encompass two cities, Bay Lake and Lake Buena Vista, with their acreage and facilities in Orange County extending to Osceola County. The Florida state government, recognizing the importance of assets like Disney, created the Reed Creek Improvement District in 1967 to oversee services to the Walt Disney theme parks and resorts, as well as other local developments. It is likewise noteworthy that Walt Disney World is the largest single-site employer in the U.S., with its over 66,000 employees or “cast members” as the company calls them.
Sports, Shows and the UCF
Also a catalyst for Orange County and Orlando’s economy is the new Amway Center which opened in 2011, respectively. Home to the Orlando Magic of NBA fame, the Amway Center hosts premier sports and entertainment events including big concerts and shows. Orlando also boasts of the newly renovated Florida Citrus Bowl featuring major college football playoff games, and the Dr. Phillips Center for the Performing Arts popular for its cultural shows.
The University of Central Florida (UCF) in Orlando is another pillar of strength for Orange County. The second largest university in the U.S., UCF has an enrolment of over 58,000 students and initiated a Business Incubation Program in 1999. This program has helped more than 300 startups that generated annual revenue of over $500 million and created 1,600 new jobs with $59,000 average annual salary.
The vibrant activity of the Orlando International Airport is one anecdotal evidence too of the robust real estate market in Orange County. This airport books more flights than any other Florida airport except Miami International.
With all these plus factors, demand is high for Orange County real estate, especially for those who want a secure investment. Furthermore, this county offers many incorporated and unincorporated towns, cities, and communities, as well as varying picks of residential styles ranging from single family homes and duplexes to condos and townhouses.