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Florida Markets Among Top Regions in the Country for Five-Year Multifamily Rent Growth

Despite Recent Outperformance, Ongoing Supply Wave Moderating Rents Across the Region

More than 37,000 apartment units are underway in South Florida, with the vast majority concentrated in luxury properties in Miami, which has the largest apartment construction pipeline among all Florida markets. (Getty Images)
More than 37,000 apartment units are underway in South Florida, with the vast majority concentrated in luxury properties in Miami, which has the largest apartment construction pipeline among all Florida markets. (Getty Images)

The major multifamily markets in Florida have recorded significant rent growth over the past five years, with Palm Beach and Tampa ranking among the top three in the country after posting average apartment rent increases of more than 30% since the fourth quarter of 2019.

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