Some Florida Markets Start Hitting the Brakes on Rents

Many multifamily markets continue down the path of least resistance to rent growth, according to the latest in a monthly series of studies from researchers at Florida Atlantic University, Florida Gulf Coast University, and the University of Alabama. The combination of well-documented demographic shifts and just as well-known lack of rental housing seem to be the dual big drivers.

The Fort Myers and Miami markets still had the largest year-over-year rent increases, at 25.22% and 24.61% respectively. And yet, those are two showing at least some slowing of the pace. In Fort Myers, rents were up only 7.05% in the last six months, while Miami showed 8.39% growth, so the biggest jumps were from before then.