After years of astronomical rent growth, Florida rents are finally settling down compared to the national average, according to researchers at Florida Atlantic University and two other schools.
While national rents increased 3.57% annually, all measured metropolitan areas in Florida saw tepid rent growth below that amount, according to end of March data from the Waller, Weeks and Johnson Rental Index.
Rents in Cape Coral and North Port declined year-over-year by 2.83% and .39%, respectively. In Orlando, rents only increased by .90%; Palm Bay, 1.25%; Jacksonville, 1.29%; Deltona, 1.30 %; Tampa, 2.09%; Lakeland, 2.18%; and Miami, 2.76%.
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