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Florida's Hot Rental Market Leads to Highest Share of Cost-Burdened Renters

Apartment asking rents are rising at a double-digit place in 35% of 390 metro areas, NAR reported.

By Paul Bergeron | March 15, 2022 at 06:57 AM

Demand when measured by 12-month absorption has outpaced supply (12-month deliveries) in Florida’s main metro areas, which means the Sunshine State’s rent growth is likely to increase at a pace faster than the national rate. 

This high rent growth and high demand relative to supply makes Florida the state with the highest share of renters that are cost-burdened, according to the National Association of Realtors. The combination of high rent growth and rising inflation is expected to further strain renter households as the cost of utilities rises.

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