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Fla.'s Apartment Sector Boosted by Flood of Higher-Paying Jobs

Renters carry an average household annual income of $123,400, or 27% above the US mean of $97,400.

By Richard Berger | October 02, 2023 at 07:47 AM

Growth in high-paying jobs is helping to drive apartment demand, and in some cases, higher rents, in Florida, according to a new report from Greg Willett at Institutional Property Advisors.

He reported that a “stunning” 58 percent of new jobs created in the state are in industries with high-income ceilings, such as professional and business services, finance, and information, which includes several technology sectors.

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