Over the years, I have written stories about the dramatic rise in rent prices in Florida. Some readers have lamented that seniors are being priced out of Florida or that the rising cost of housing in the Sunshine State leaves little money left at the end of the month. Such readers may be relieved to know that a recent report by the real estate website Redfin has indicated that Florida’s Jacksonville and Tampa have seen a lowering of their rents – so much so that they are among the top cities in the nation seeing this lowering. Orlando and Miami saw declines as well.
The Recent Redfin Study And Florida’s Declining Rent Markets: A report by the real estate website Redfin was updated in early October of 2024. It found that Florida is bucking the national trend of rising rents. Specifically, the study found that Jacksonville saw a 12% decline in rent from June of last year. Tampa saw a 6% decline, Orlando saw a 4.8% decrease and Miami’s rent decrease was 3.8%.
Jacksonville’s decline was the second largest in the nation, right behind Austin, Texas. Tampa was fifth, Orlando was sixth, and Miami was eleventh.