Rental prices in Florida are gradually decreasing

Rental prices in Florida are gradually decreasing amid an unprecedented influx of new residents.

Rent costs in Florida saw a significant year-over-year decline of 9.21% in January 2023, with an average monthly rent of $2,095, still higher than the national median of $1,964. While cities like Jacksonville experienced rent increases, others like Orlando and Miami saw declines. Factors such as increased demand, rising building costs, and inflation contribute to high rent prices, but new construction and landlords offering lower prices are starting to alleviate the situation.

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