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Special Report

Florida’s Apartment Renter Evolution

September 2023

State’s Renter Base Expands and Trends Upscale

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.

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