Why Orlando Works for Residents and Fellows

Orlando is more than theme parks. It’s a tri-anchor medical ecosystem with ACGME programs at AdventHealth, Orlando Health, and a growing academic presence in Lake Nona’s Medical City (UCF/HCA). That concentration of training sites keeps demand strong around key neighborhoods and sustains a deep rental pool—useful if you plan to keep the property after residency.

Economically, Orlando’s job market remains one of the Southeast’s most dynamic. The BLS area economic summaries track employment, unemployment, and wages metro-wide—helpful context when stress-testing a budget. On the housing side, the FHFA House Price Index provides a sober, repeat-sales view of home values over time. Recent reports show some cooling in parts of Florida (prices are cyclical), but long-run trends remain constructive—another reason to avoid a short horizon and buy with a 5–7 year plan.

Buy vs. Rent During Residency: The Real Trade-offs

Financing for Physicians: What Actually Changes

“Physician loans” are designed for residents, fellows, and early-career MD/DO (often dentists, DPM included). Typical features include low or 0–10% down and no PMI, with underwriting that can consider an executed employment contract rather than current pay. See program examples from major banks: Truist (with product flyer details), Fifth Third, and Bank of America.

If you’re a veteran or currently serving, compare the above with VA-backed loans—often no down payment with competitive terms. Eligibility and details are outlined on VA.gov and the VBA home loans page.

Commute-Friendly, Hospital-Adjacent Neighborhoods

Residency life is all about minutes saved. Focus on Orlando’s hospital corridors where you can live close, keep options open after graduation, and still enjoy parks, coffee, and decent date-night food.

Costs & Timelines: What to Expect

• Down payment: 0–10% typical on physician loans; VA often 0% for eligible borrowers.
• Closing costs: ~2–5% of purchase price; some costs can be seller-paid depending on the deal.
• Monthly payment: Rate + taxes + insurance. Calibrate to your PGY salary and call schedule (buffer 6 months of expenses where possible).
• Timeline: Home search (2–8+ weeks) → contract → typical closing 30–45 days. Physician and VA loans may have additional documentation (employment contract, COE) but standard timeframes apply.

Strategy: Buy With the End in Mind

1. Choose a 5–7 year thesis: “Live during residency, rent during fellowship/attending.” That horizon matches how repeat-sales indices behave through cycles.
2. Underwrite like an investor: If you kept the home, what rent would it command? Is cash flow close to neutral with principal paydown?
3. Commute math beats square footage: Minutes saved > marginal space. Your future self on nights will thank you.
4. Financing fit: Compare physician-loan LTVs, student-debt treatment, and rates vs. conventional; if VA-eligible, model both scenarios.
5. Inspection + maintenance plan: Avoid projects that compete with board prep. Favor newer systems or homes with clear maintenance records.