Residents in cities across Florida are seeing a decrease in rent due to an oversupply of apartment units, a contrast with what is happening elsewhere in the United States, where the rental market continues to rise.
Rent prices in general are now 30% higher than they were before the COVID-19 pandemic, and rents were unaffordable in 2022 for 22.4 million households, according to a recent report by the Joint Center for Housing Studies of Harvard University.
