Newsfeed: Florida Claims All Top 10 Markets for Rent Growth

By Julia Bunch

Florida Claims All Top 10 Markets for Rent Growth

The top 10 markets for annual rent growth have something major in common: they’re all in the Sunshine State. In the year-ending 2nd quarter 2022, operators in the small Gulf Coast market of Naples, Florida hiked effective asking rents 36.6% – the highest rate recorded among the nation’s 150 largest apartment markets.

The #2 and #3 markets for rent growth sit about 45 to 90 miles up the coast, respectively. Cape Coral saw rent growth of 33.7% in year-ending 2nd quarter, followed by 29.7% in North Port. All three major South Florida markets rank among the top 10 in the nation for rent growth in 2nd quarter. West Palm Beach claimed the #4 spot (26.2%), followed by Fort Lauderdale at #5 (25.9%) and Miami at #9 (22.4%). Orlando, Tampa, Deltona and Port St. Lucie rounded out the top 10 with rent growth between 22% and 25%.

 


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