The Florida Rental market continues to stagnate. Rents are flat if not down or outright plummeting in some areas as vacancies skyrocket. It is becoming clear the wages of the state do not support the asking prices landlords are seeking in the 2023 housing market. Some investors are beginning to panic as their mortgaged rentals, Airbnbs, and vacation properties sit vacant for months at a time.
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Nationally it appears the data is trending in the same direction and is only likely to get worse.
Article Links:
1- https://www.apartmentlist.com/research/more-than-half-of-all-renters-are-cost-burdened
2 - https://www.apartmentlist.com/research/national-rent-data
3 - https://www.axios.com/2023/09/07/apartment-building-construction-record-high
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