Florida TaxWatch report: Average Florida rental rates fell slightly in past year
Residential rental rates might have leveled off in the Sunshine State after three years of wild increases, according to a recently released Florida TaxWatch report.
Rental prices in Florida had skyrocketed in the wake of the COVID-19 outbreak, jumping from an average rental rate of $1,187 per month in December of 2020 to $1,545 in December 2023.
While the most recent December price seems high in comparison to pre-pandemic levels, the figure has actually declined in the past year, the report stated. The cost of a monthly rental unit has fallen in most metro areas in Florida since December 2022. A one-bedroom rental unit in Miami now runs $2,600 per month. That’s a 2.3% decrease over a year ag...
