Florida’s Apartment Renter Evolution

Florida is adding renter households at an impressive pace, realizing some of the strongest demand for apartments seen anywhere across the country. Affluent households account for a growing share of those opting for professionally-managed apartments in the Sunshine State, with average incomes in the renter base up significantly from the levels recorded in the pre-pandemic period. Florida’s evolving renter profile points to appealing prospects for investment in higher-quality multifamily assets.