National reports indicate that rent growth is declining and the market is shifting in tenants' favor. But in Florida, it may still be some time before prices level off or decrease.
With continuing population growth, Florida is an extreme version of what is happening in several strong rental markets in the country, said Anne Ray, manager of the Florida Housing Data Clearinghouse at UF's Shimberg Center for Housing Studies.
"A slight cooldown would stop things from getting worse for renters looking for an affordable unit in Florida, but it can't make up for double digit percentage rent increases that already took place the last couple years," Ray said. "This means the rental market is stabilizing at a really high rate."
Experts with UF's Shimberg Center for Housing Studies recently collected data on Florida's affordable rental housing needs and discovered a number of key findings:
