In January, revenue change in Florida apartment markets experienced a surprising drop from the surges that market saw in 2021 and 2022, according to data from Realpage Market Analytics.

For context, 17 of the nation’s largest 150 apartment markets are in Florida. Those 17 markets saw revenues decline an average of 3.4% in the year-ending January. In contrast to the Florida market, the 16 California apartment markets in the top 150 saw revenues fall an average of 0.7%. At the same time, the 11 Texas markets experienced average declines of 2.6%. And US revenues were unchanged for the year.

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