{"id":123513,"date":"2022-12-20T00:59:47","date_gmt":"2022-12-20T08:59:47","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=123513"},"modified":"2022-12-20T01:07:44","modified_gmt":"2022-12-20T09:07:44","slug":"most-competitive-rental-markets-in-florida-this-year","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/most-competitive-rental-markets-in-florida-this-year\/","title":{"rendered":"Rental Competitivity in Florida in 2022: Miami &#038; Orlando Were the Only Markets That Stayed Hot the Entire Year"},"content":{"rendered":"<ul>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><strong><i>Florida had four highly competitive rental markets <em>\u2014 <\/em>more than any other state <em>\u2014<\/em> confirming its ongoing appeal to renters. <\/i>\u00a0<\/strong><\/li>\n<li><strong><em>Miami-Dade County was Florida\u2019s (and the nation\u2019s) hottest market, despite completing many new apartments this year.<\/em><\/strong><\/li>\n<li><strong><em>Orlando, North Central Florida and Southwest Florida were next, rounding out the Sunshine State&#8217;s top four most in-demand markets.<\/em><\/strong><strong>\u00a0<\/strong><\/li>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><strong><i>Florida\u2019s sunny cities drew in more renters during the first part of the year than in rental season.<\/i>\u00a0<\/strong><\/li>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><strong><i>Tallahassee was the only Florida market that got hotter during peak rental season.<\/i>\u00a0<\/strong><\/li>\n<\/ul>\n<p>The flexibility brought on by work-from-home, as well as rising home prices in big coastal cities and the overall appeal of the area were the main reasons behind increased competitivity in Florida in 2022. The state led the nation when it came to hot markets for renters.<\/p>\n<p><span data-contrast=\"auto\">To get a sense of when and where it was hardest and easiest to <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fl\/\"><span data-contrast=\"none\">rent an apartment in Florida<\/span><\/a><span data-contrast=\"auto\"> in 2022, we looked at five important metrics based on Yardi Systems apartment data: <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">the number of days rentals stayed vacant<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">the percentage of apartments occupied by renters<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">how many prospective renters competed for an apartment<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">the percentage of renters who renewed their leases<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u00b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\u00b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">the share of new apartments completed<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<p>Using these factors, RentCafe rated each rental market in Florida using a\u00a0<strong>Rental Competitivity Index<\/strong> (RCI) during three different timeframes: the first part of the year (January to April), peak rental season (May to August) and the full year 2022. The value of each RCI shows if a market was highly competitive (90+ points), competitive (between 45 and 90 points) or less competitive (under 45 points).<\/p>\n<p><span data-contrast=\"auto\">Overall, Florida was the hottest state for renters, particularly in the first part of the year, when its RCI exceeded 90 points. In fact, this made the region the most competitive in all of the U.S., as no other state reached this score.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">Miami-Dade County, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/orlando-fl\/\">Orlando<\/a>, North Central Florida and Southwest Florida were Florida\u2019s hottest markets for renters this year, with general RCI scores above 90. This was due to a mix of record-high occupancy levels and soaring numbers of renters competing for one apartment. The significant number of residents who decided to stay in place and extend their leases also added fuel to the fire.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-TPWLY\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"State Competitivity 2022 - Florida \" src=\"https:\/\/datawrapper.dwcdn.net\/TPWLY\/4\/\" height=\"435\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Bar Chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();\n<\/script><\/p>\n<p><span data-contrast=\"auto\">In <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/miami-fl\/\">Miami<\/a> \u2014 the hottest market in Florida and in the U.S. \u2014 demand far outpaced the number of available apartments. What's more, the 2.8% share of new apartments added in 2022 (second only to one other Florida market, Pensacola) didn't budge Miami\u2019s overall RCI of 118, which was the highest in the country.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\"> Of all the Sunshine State markets analyzed, rental units here filled the fastest, in just 25 days.\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Orlando \u2014 Florida\u2019s second most in-demand market \u2014 had an overall RCI of 109.3. Here, increased competitivity was driven by the high number of renters competing for an apartment (21), as well as the 72.5% of residents who decided to stay in place and extend their leases.\u00a0\u00a0<\/span><\/p>\n<p>North Central Florida saw similar trends to Orlando, with 97% of apartments occupied, as well as a lease renewal rate of 67.4%, which led to an overall RCI score of 105.4. Meanwhile, the renewal rate in Southwest Florida in 2022 was even higher <span data-contrast=\"auto\">\u2014 <\/span>72.9%. Combined with an occupancy level of 96.1%, the area's RCI for the year reached 93.4.<\/p>\n<p><span data-contrast=\"auto\">Notably, each of these locations\u2019 popularity was reflected in the average number of renters competing for an apartment, which ranged from 16 in Southwest Florida to 32 in <\/span><span data-contrast=\"none\">Miami<\/span>.<span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p>By contrast, Jacksonville and Pensacola were the Florida markets where it was easiest to rent an apartment in 2022. A deciding factor in these locations was the fast pace of apartment completions in both locations.<\/p>\n<h2><span data-contrast=\"auto\">Florida\u2019s Renting Conundrum: Competitivity Eased in Peak Rental Season<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">Surprisingly, during rental season (May through August), Florida\u2019s markets were less competitive than they were during the first part of the year (January through April). The primary reasons that led to this atypical trend were lower occupancy rates and fewer renewed leases during the summer months, as well as an increased share of <\/span><a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/apartment-construction-2022\/\"><span data-contrast=\"none\">new apartments<\/span><\/a><span data-contrast=\"auto\"> added. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-hUBIN\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Change in competitivity \" src=\"https:\/\/datawrapper.dwcdn.net\/hUBIN\/1\/\" height=\"294\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Arrow Plot\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();<\/script><\/p>\n<p><strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/pensacola-fl\/\">Pensacola<\/a><\/strong><span data-contrast=\"auto\"><strong>, Palm Beach County, Jacksonville and Southwest Florida saw the biggest changes in competitivity in 2022<\/strong>, with differences in RCI scores ranging between -42.8% and -25.4%. In these four markets, it became easier to rent an apartment during peak rental season compared to the first part of the year, which is traditionally known as the off-season for renting. Consequently, the softening of competitivity offered would-be renters a well-deserved slowdown in the intense hunt for an apartment.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Likewise, the ease in competitivity in these markets also followed a high share of new apartments that opened up in 2022 \u2014 between 2.7% and 5.5% \u2014 in addition to fewer prospective renters per apartment during rental season. For example, in Southwest Florida, <\/span><span data-contrast=\"auto\">the average number of candidates for one apartment decreased from 20 in the first part of the year to just 14 during high rental season. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p>In contrast, <strong>Miami and Orlando were the markets that remained hot throughout the year<\/strong> and saw virtually no change in RCI scores<span data-contrast=\"auto\"> \u2014 less than 1%.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-Giqy2\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Competitivity Factors in the First Part of the Year vs. Rental Season \" src=\"https:\/\/datawrapper.dwcdn.net\/Giqy2\/7\/\" height=\"603\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();<\/script><\/p>\n<p><span data-contrast=\"auto\">Meanwhile, after a 42.8% decrease in competitivity, Pensacola was the Florida market where it was easiest to rent during peak rental season. This was the only location in the state that entered the \"less competitive\" category (albeit a seasonal shift) after its RCI score shifted to 41 \u2014 nearly 31 points below the 71.8 score it registered in the first part of the year. During peak rental season, Pensacola saw only eight prospective renters per apartment, fewer than any other Florida market in 2022.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p>Likewise, competitivity in Palm Beach County during peak season was 30.6% less intense than it was in the first part of the year. The higher share of new apartments added to the market through August <span data-contrast=\"auto\"> \u2014<\/span> 2.7% versus 1.1% through April <span data-contrast=\"auto\"> \u2014<\/span> as well as lower occupancy and lease renewal rates changed the game for those looking to rent. In addition, only 12 renters competed for an apartment during peak season in Palm Beach County, compared to 18 in the first part of the year.<\/p>\n<p><span data-contrast=\"auto\">Similarly, Southwest Florida was 25.4% less competitive in peak rental season after a fluctuation of 26.7 points in its score, more than in any of the four top markets in Florida, without taking into account the effects of Hurricane Ian.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-gTx9X\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Rental Markets Competitivity in Florida in 2022 \" src=\"https:\/\/datawrapper.dwcdn.net\/gTx9X\/12\/\" height=\"755\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Map\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(e){if(void 0!==e.data[\"datawrapper-height\"]){var t=document.querySelectorAll(\"iframe\");for(var a in e.data[\"datawrapper-height\"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data[\"datawrapper-height\"][a]+\"px\"}}}))}();<\/script><\/p>\n<p><span data-contrast=\"auto\">Southwest Florida, Broward County <\/span><span data-contrast=\"auto\">and <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tampa-fl\/\"><span data-contrast=\"none\">Tampa<\/span><\/a><span data-contrast=\"auto\"> were all highly competitive markets during the first part of the year. They had RCI scores above 90 points, but slowed down<\/span>\u00a0(between 90 and 45 points) <span data-contrast=\"auto\">during the traditional rental season. Even so, they remained well above <\/span><span data-contrast=\"auto\">the national RCI of 59.9<\/span><span data-contrast=\"auto\">. This means that it actually got easier to find an apartment and sign a lease in a period when markets all over the nation were buzzing with renters trying to find the perfect place. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p>Finally, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jacksonville-fl\/\"><span data-contrast=\"none\">Jacksonville<\/span><\/a><span data-contrast=\"auto\"> was also hotter in the first part of the year, due to higher occupancy and lease renewal rates, as well as more prospective renters per apartment compared to peak rental season.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\"> The 2.6% share of new apartments added in the area through August also contributed to the 26.4% drop in competitivity in peak rental season.<\/span><\/p>\n<h2><span data-contrast=\"auto\">Tallahassee: The Only Florida Market That Heated Up in Peak Rental Season <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">Florida\u2019s state capital, <\/span><strong><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/tallahassee-fl\/\">Tallahassee<\/a>,<\/strong><span data-contrast=\"auto\"><strong> was the only Florida market that got hotter during rental season<\/strong>. Its RCI score increased from 47 in the first part of the year to 79.6 during the summer months, a change of 69%.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The main reason behind this was the lack of apartment construction: The share of new apartments here remained at only 0.8% over the course of 2022. That was not enough to meet demand from renters. Another contributing factor was the number of prospective renters per apartment, which increased from 12 in the first four months of the year to 15 during rental season. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">However, unlike in other markets, the lease renewal rate in Tallahassee increased during rental season \u2014 62.3% versus 60.4% in the first part of the year. This also supercharged the market. During its hottest months, an apartment in Tallahassee filled in 25 days, compared to 33 days in the first part of the year.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n<h2><span data-contrast=\"auto\">Methodology<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/h2>\n<p><em><a href=\"https:\/\/www.rentcafe.com\/\">RentCafe<\/a> is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the U.S.\u00a0<\/em><\/p>\n<p><em>To compile this report, RentCafe.com\u2019s research team analyzed Yardi Systems apartment data across 135 rental markets in the U.S. The data comes directly from market-rate large-scale multifamily properties of at least 50 units. Fully affordable multifamily properties were excluded. \u00a0<\/em><\/p>\n<p><em>The markets were ranked based on a market competitivity score. To calculate each market\u2019s score, we used five metrics and their averages for January through August 2022: apartment occupancy rate, average total days vacant, prospective renters per vacant unit, the renewal lease rate, and the share of new apartments completed in the first eight months of 2022 compared to the overall supply as of Dec. 31, 2021. \u00a0<\/em><\/p>\n<p><em>We then compiled an average ranking by assigning a percentage weight for each metric: 30% for apartment occupancy rate, 15% for average vacant days, 15% for prospective renters per vacant unit, 30% for renewal lease rate, and 10% for the share of new apartments. \u00a0<\/em><\/p>\n<p><em>\"First part of the year\" refers to the timeframe between January and April 2022, while \"peak rental season\" refers to the timeframe between May and August 2022. \u00a0<\/em><\/p>\n<p><em>In this study, the terms \"market,\" \"area\" and \"location\" are used interchangeably and are defined as Yardi Matrix markets.<\/em><\/p>\n<p><em>The <span data-contrast=\"auto\">Southwest Florida market includes <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/bradenton-fl\/\"><span data-contrast=\"none\">Bradenton<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-myers-fl\/\"><span data-contrast=\"none\">Fort Myers<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/immokalee-fl\/\"><span data-contrast=\"none\">Immokalee<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lehigh-acres-fl\/\"><span data-contrast=\"none\">Lehigh Acres<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/naples-fl\/\"><span data-contrast=\"none\">Naples<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/north-port-fl\/\"><span data-contrast=\"none\">North Port<\/span><\/a><span data-contrast=\"auto\">, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/palmetto-ccd-fl\/\">Palmetto<\/a>, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/port-charlotte-fl\/\"><span data-contrast=\"none\">Port Charlotte<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/punta-gorda-fl\/\"><span data-contrast=\"none\">Punta Gorda<\/span><\/a><span data-contrast=\"auto\">, <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/sarasota-fl\/\"><span data-contrast=\"none\">Sarasota<\/span><\/a><span data-contrast=\"auto\"> and <\/span><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/venice-fl\/\"><span data-contrast=\"none\">Venice<\/span><\/a>.\u00a0<\/em><\/p>\n<p><em>The Palm Beach County market encompasses <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boca-raton-fl\/\">Boca Raton<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boynton-beach-fl\/\">Boynton Beach<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/delray-beach-fl\/\">Delray Beach<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lake-worth-fl\/\">Lake Worth<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/palm-beach-gardens-fl\/\">Palm Beach Gardens<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/riviera-beach-fl\/\">Riviera Beach<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/wellington-fl\/\">Wellington<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/west-palm-beach-fl\/\">West Palm Beach<\/a>.<\/em><\/p>\n<p><em>The Broward County market is made up of <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/fort-lauderdale-fl\/\">Fort Lauderdale<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/plantation-fl\/\">Plantation<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/pembroke-pines-fl\/\">Pembroke Pines<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/hollywood-fl\/\">Hollywood<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/coral-springs-fl\/\">Coral Springs<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/coconut-creek-fl\/\">Coconut Creek<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/lauderhill-fl\/\">Lauderhill<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/pompano-beach-fl\/\">Pompano Beach<\/a>.<\/em><\/p>\n<p><em>The North Central Florida market includes <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/daytona-beach-fl\/\">Daytona Beach<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/deltona-fl\/\">Deltona<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/gainesville-fl\/\">Gainesville<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ocala-fl\/\">Ocala<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/ormond-beach-fl\/\">Ormond Beach<\/a>, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/palatka-fl\/\">Palatka<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/palm-coast-fl\/\">Palm Coast<\/a>.<\/em><\/p>\n<h2><span data-contrast=\"auto\">Fair use and redistribution<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">We encourage you and freely grant you permission to reuse, host, or repost the research, graphics, and images presented in this article. When doing so, we ask that you credit our research by linking to RentCafe.com or this page, so that your readers can learn more about this project, the research behind it and its methodology. For more in-depth, customized data, please contact us at <\/span><a href=\"mailto:media@rentcafe.com\"><span data-contrast=\"none\">media@rentcafe.com<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Florida had four highly competitive rental markets \u2014 more than any other state \u2014 confirming its ongoing appeal to renters. \u00a0 Miami-Dade County was Florida\u2019s (and the nation\u2019s) hottest market, despite completing many new apartments this year. Orlando, North Central Florida and Southwest Florida were next, rounding out the Sunshine State&#8217;s top four most in-demand&hellip;<\/p>\n","protected":false},"author":738,"featured_media":123514,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3661],"tags":[],"class_list":["post-123513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-snapshots","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Florida&#039;s Most Competitive Rental Markets in 2022<\/title>\n<meta name=\"description\" content=\"Finding an apartment to rent in Florida is easier during peak rental season versus the first part of the year, when competition is highest.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/market-snapshots\/most-competitive-rental-markets-in-florida-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rental Competitivity in Florida in 2022: Miami &amp; 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