Living in Conway, Orlando

Two very different places called Conway

Before you read anything into Conway's numbers, know that the name means different things to different people. In everyday use, Conway refers to a large area of southeast Orlando around Conway Road and the Lake Conway chain of lakes, much of it in unincorporated Orange County. That wider area includes older ranch neighborhoods and lakefront homes that sell far above $141,962.

Zillow's Conway is a narrower area that it assigns to the City of Orlando. A typical value this far below the city's typical condo, about $170,712, points to an area dominated by condos and townhomes. So the Zillow number describes one part of what people call Conway and should not be used to price a single-family house on the lakes.

When you look at a listing marketed as Conway, check three things: whether it is inside city limits or unincorporated, which Zillow area it actually falls in, and whether it is a house or a unit in an association.

What the decline tells you

A 9.7% loss over five years stands out in a city that gained 22.3% over the same stretch. Only a few Orlando areas on Zillow's list are negative over five years: Conway, Lake Frendrica at -2.2% and Kirkman North at -0.5%. All three have one thing in common with other sharp decliners like South Semoran (-7.1% for the year) and Ventura (-8.3%): a high share of condos.

The likely driver is Florida's condo safety law. Older condo buildings now need milestone inspections, funded structural reserves based on a SIRS, and in many cases expensive repairs. Associations that put off maintenance for years have had to raise fees sharply or levy special assessments. Buyers have priced that in, and the lowest-priced condos tend to be the ones with the largest bills ahead.

None of that says what Conway will do from here. It does say that the price of a unit and the cost of owning it can be very far apart.

Buying a low-priced condo without buying a problem

A $140,000 condo can be a reasonable buy or a trap, and the difference is in the association's paperwork. Before your contract becomes binding, collect and read:

• The SIRS and reserve funding. If reserves are far below what the study calls for, expect fee increases or an assessment.
• Milestone inspection status for buildings three stories or taller, plus any repair estimates that came out of it.
• Approved and proposed special assessments. Ask the association directly, in writing.
• Twelve months of board minutes. Roofs, plumbing, balconies and parking lots are the common big-ticket items.
• Delinquency rate. When many owners stop paying dues, the rest carry the cost, and lenders take notice.

Florida gives resale condo buyers 7 days, not counting weekends or legal holidays, to cancel after receiving those documents. That window is short, so line up the documents before you sign if you can.

Financing and cash offers

Many older, low-priced complexes do not qualify for conventional or government-backed condo loans because of underfunded reserves, pending litigation, deferred repairs or delinquency. If a building is not eligible, you may need a cash purchase or a portfolio loan with a larger down payment.

Ask a lender to review the project before you are under contract. Also think about the next sale: a building that can't be financed today limits your future buyer pool too, which is part of why prices in these complexes have fallen.

If you're after a house in the wider Conway area

The broader Conway area offers older single-family homes and lakefront property, often on larger lots than in newer suburbs. Use the city's figures for a rough sense of house prices: Orlando's typical three-bedroom is about $357,392 and four-bedroom about $480,255. Lakefront homes on the Conway lakes sit in a different market altogether.

For a house here, focus on roof age, a 4-point inspection for older homes, the sewer line or septic system, and the FEMA flood zone of the lot. Lakefront parcels need an elevation check and a separate flood insurance quote. Docks, seawalls and lake access come with their own permits and rules, so ask what is in place.

The area sits near SR 408, SR 528 and SR 436, with Orlando International Airport a short drive south. Expect aircraft noise in some parts. Visit at different times of day before choosing a street.

Taxes and who Conway suits

Your purchase resets the assessed value to market value. If the home is your permanent residence, homestead takes up to $51,411 off that value in 2026. On a condo priced around $142,000, that can remove more than a third of the assessed value before millage is applied, and the 3% cap then limits increases.

Census data shows Orlando's median age is 35.1 and almost 40% of its housing is in buildings of 10 or more units, so condos are a normal entry point here. Zillow's Conway suits a buyer who wants the lowest possible entry price in southeast Orlando, has cash or a lender that has cleared the building, and reads association documents carefully. A buyer who can't absorb a surprise assessment should look at newer buildings or at houses. I'd start a Conway search by screening complexes on reserves and inspection status, then compare units.