Florida Rental Market Trends
Mortgage Capital · NMLS# 1859012 · Licensed Florida mortgage broker
Florida's rental market exploded during the pandemic migration wave, with rents jumping double digits in many metros. That surge has since cooled as new apartment supply came online and the migration pace eased. Rents have flattened or dipped in some markets, though they remain well above pre-pandemic levels.
For renters weighing whether to buy, and for investors eyeing rental property, the trend matters. Softer rent growth changes the buy-versus-rent math and the returns on investment properties.
From surge to plateau
Metros like Tampa, Orlando, and parts of South Florida saw rents spike during the migration boom. A wave of new apartment construction has since added supply, slowing or reversing that growth.
Rents remain elevated versus a few years ago, but the era of relentless double-digit increases has paused in most of the state.
Buy versus rent in 2026
With rents high and home prices stabilizing, the gap between renting and owning has narrowed in some markets, especially for buyers using low-down-payment loans or assistance.
The full comparison has to include Florida's insurance and taxes on the ownership side. Run both numbers before assuming renting is cheaper.
The investor angle
Softer rent growth and higher financing costs have compressed returns for new rental investors. DSCR loans, which qualify on the property's rental income, remain a common tool for Florida investors.
Markets with strong job and population growth still offer rental demand, but careful underwriting on rent, insurance, and vacancy matters more than it did during the boom.
Frequently asked questions
Are Florida rents still rising?
Growth has slowed or flattened in most metros as new apartment supply came online, though rents remain above pre-pandemic levels.
Is it cheaper to buy or rent in Florida now?
It varies by market. The gap has narrowed in some metros, but you must include insurance and taxes on the ownership side to compare fairly.
How do investors finance Florida rentals?
Many use DSCR loans, which qualify based on the property's rental income rather than the borrower's personal income.
Which markets have the strongest rental demand?
Metros with strong job and population growth continue to see solid rental demand, though returns require careful underwriting.