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Market Overview

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EXPLORE 8 Florida MARKETSToggle markets

Fort Lauderdale
Fort Myers
Jacksonville
Lakeland
Miami
Orlando
Palm Beach
Tampa-St. Petersburg

Fort Lauderdale

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VACANCY

Apartment

The average Vacancy Rate was 6.6% in the Fort Lauderdale metro

Vacancy in the Fort Lauderdale metro drifted upward by 20 basis points.
Vacancy is expected to finish 2024 at 6.7% in the Fort Lauderdale metro.

Distribution / Warehousing

The average Vacancy Rate was 4.1% in the Fort Lauderdale metro

Vacancy in the Fort Lauderdale metro drifted downward by 10 basis points.
Vacancy is expected to finish 2024 at 4.1% in the Fort Lauderdale metro.

Flex / R&D

The average Vacancy Rate was 2.1% in the Fort Lauderdale metro

The Fort Lauderdale metro had the second lowest vacancy in the nation, behind only Miami.
Vacancy in the Fort Lauderdale metro drifted downward by 10 basis points.
The Fort Lauderdale metro had the lowest vacancy level since Q3 2009.

Office

The average Vacancy Rate was 19.5% in the Fort Lauderdale metro

Vacancy in the Fort Lauderdale metro drifted upward by 30 basis points.
Vacancy is expected to finish 2024 at 19.6% in the Fort Lauderdale metro.

Retail

The average Vacancy Rate was 9.2% in the Fort Lauderdale metro

Vacancy in the Fort Lauderdale metro increased by 100 basis points.
The Fort Lauderdale metro had the highest vacancy level since Q2 2015.
Vacancy is expected to finish 2024 at 8.9% in the Fort Lauderdale metro.

RENT

Apartment

The average Asking Rent was $2,106 in the Fort Lauderdale metro

Rent in the Fort Lauderdale metro was down 0.2% from Q1 2024.
Rent is expected to finish 2024 at $2,123 in the Fort Lauderdale metro.

Distribution / Warehousing

The average Asking Rent was $10.12 in the Fort Lauderdale metro

Rent in the Fort Lauderdale metro was up 0.4% from Q1 2024.
Rent has risen in every quarter since Q1 2014 in the Fort Lauderdale metro.
Rent is expected to finish 2024 at $10.37 in the Fort Lauderdale metro.

Flex / R&D

The average Asking Rent was $13.23 in the Fort Lauderdale metro

The Fort Lauderdale metro had the fastest rent growth in the nation.
Fort Lauderdale metro had its fastest rent rate of increase in four quarters.
Rent is expected to finish 2024 at $13.52 in the Fort Lauderdale metro.

Office

The average Asking Rent was $31.51 in the Fort Lauderdale metro

Rent in the Fort Lauderdale metro was up 1.1% from Q1 2024.
Fort Lauderdale metro had its fastest rent rate of increase since Q3 2007.
Rent Has risen for seven consecutive quarters in the Fort Lauderdale metro.

Retail

The average Asking Rent was $22.09 in the Fort Lauderdale metro

Rent in the Fort Lauderdale metro was up 0.2% from Q1 2024.
Rent is expected to finish 2024 at $22.28 in the Fort Lauderdale metro.

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Fort Myers

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VACANCY

Distribution / Warehousing

Average Vacancy Rate 8.7%

Increased by 190 basis points.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $6.87

Up 0.4% from year-end 2018.
Has risen for six consecutive quarters.
Expected to finish 2019 at.

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Jacksonville

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VACANCY

Apartment

The average Vacancy Rate was 7.5% in the Jacksonville metro

Vacancy in the Jacksonville metro drifted downward by 10 basis points.
The Jacksonville metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 7.7% in the Jacksonville metro.

Distribution / Warehousing

The average Vacancy Rate was 4.0% in the Jacksonville metro

No vacancy change since Q1 2024 in the Jacksonville metro.
Vacancy is expected to finish 2024 at 3.9% in the Jacksonville metro.

Flex / R&D

The average Vacancy Rate was 3.7% in the Jacksonville metro

The Jacksonville metro had the seventh lowest vacancy in the nation and the fourth lowest in the South Atlantic.
Vacancy in the Jacksonville metro drifted upward by 30 basis points.
The Jacksonville metro had the highest vacancy level since Q2 2022.

Office

The average Vacancy Rate was 23.3% in the Jacksonville metro

No vacancy change since Q1 2024 in the Jacksonville metro.
The Jacksonville metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 23.8% in the Jacksonville metro.

Retail

The average Vacancy Rate was 10.5% in the Jacksonville metro

Vacancy in the Jacksonville metro drifted downward by 10 basis points.
Vacancy is expected to finish 2024 at 10.6% in the Jacksonville metro.

RENT

Apartment

The average Asking Rent was $1,421 in the Jacksonville metro

Rent in the Jacksonville metro was down 0.1% from Q1 2024.
Rent is expected to finish 2024 at $1,429 in the Jacksonville metro.

Distribution / Warehousing

The average Asking Rent was $5.65 in the Jacksonville metro

Rent in the Jacksonville metro was up 0.9% from Q1 2024.
Rent has risen in every quarter since Q2 2015 in the Jacksonville metro.
Rent is expected to finish 2024 at $5.79 in the Jacksonville metro.

Flex / R&D

The average Asking Rent was $10.54 in the Jacksonville metro

Rent in the Jacksonville metro was up 0.8% from Q1 2024.
Rent has risen in every quarter since Q3 2020 in the Jacksonville metro.
Rent is expected to finish 2024 at $10.85 in the Jacksonville metro.

Office

The average Asking Rent was $20.65 in the Jacksonville metro

Rent in the Jacksonville metro was up 0.5% from Q1 2024.
Rent is expected to finish 2024 at $20.81 in the Jacksonville metro.

Retail

The average Asking Rent was $18.15 in the Jacksonville metro

Rent in the Jacksonville metro was up 0.2% from Q1 2024.
Rent is expected to finish 2024 at $18.37 in the Jacksonville metro.

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Lakeland

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VACANCY

Distribution / Warehousing

Average Vacancy Rate 17.3%

Increased by 170 basis points.
Among the 10 highest vacancies nationally.
Expected to finish 2019 at.

RENT

Distribution / Warehousing

Average Asking Rent $5.38

Up 0.7% from year-end 2018.
Fastest rate of increase in six quarters.
Expected to finish 2019 at.

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Miami

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VACANCY

Apartment

The average Vacancy Rate was 7.1% in the Miami metro

Vacancy in the Miami metro rose by 60 basis points.
The Miami metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 7.1% in the Miami metro.

Distribution / Warehousing

The average Vacancy Rate was 3.4% in the Miami metro

Vacancy in the Miami metro rose by 100 basis points.
The Miami metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2024 at 2.8% in the Miami metro.

Flex / R&D

The average Vacancy Rate was 2.1% in the Miami metro

The Miami metro had the lowest vacancy in the nation.
Vacancy in the Miami metro drifted upward by 10 basis points.
Vacancy is expected to finish 2024 at 2.0% in the Miami metro.

Office

The average Vacancy Rate was 17.2% in the Miami metro

Vacancy in the Miami metro drifted upward by 20 basis points.
The Miami metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2024 at 17.5% in the Miami metro.

Retail

The average Vacancy Rate was 6.8% in the Miami metro

The Miami metro had the seventh lowest vacancy in the nation, and the second in the South Atlantic region, behind only Suburban Virginia.
No vacancy change since Q1 2024 in the Miami metro.
The Miami metro had the highest vacancy level since Q3 2014.

RENT

Apartment

The average Asking Rent was $2,279 in the Miami metro

Rent in the Miami metro was up 0.6% from Q1 2024.
Rent has risen in every quarter since Q1 2021 in the Miami metro.
Rent is expected to finish 2024 at $2,309 in the Miami metro.

Distribution / Warehousing

The average Asking Rent was $10.52 in the Miami metro

Rent in the Miami metro was up 0.7% from Q1 2024.
Rent has risen in every quarter since Q2 2020 in the Miami metro.
Rent is expected to finish 2024 at $10.77 in the Miami metro.

Flex / R&D

The average Asking Rent was $15.92 in the Miami metro

Rent in the Miami metro was up 0.7% from Q1 2024.
Rent has risen in every quarter since year-end 2020 in the Miami metro.
Rent is expected to finish 2024 at $16.43 in the Miami metro.

Office

The average Asking Rent was $39.97 in the Miami metro

Rent in the Miami metro was up 1.2% from Q1 2024.
Rent has risen in every quarter since Q3 2013 in the Miami metro.
Rent is expected to finish 2024 at $40.13 in the Miami metro.

Retail

The average Asking Rent was $30.27 in the Miami metro

The Miami metro remained flat rent since Q1 2024.
Rent is expected to finish 2024 at $30.74 in the Miami metro.

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Orlando

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VACANCY

Apartment

The average Vacancy Rate was 7.6% in the Orlando metro

Vacancy in the Orlando metro drifted upward by 10 basis points.
The Orlando metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 7.6% in the Orlando metro.

Distribution / Warehousing

The average Vacancy Rate was 6.5% in the Orlando metro

No vacancy change since Q1 2024 in the Orlando metro.
The Orlando metro had the highest vacancy level since Q3 2021.
Vacancy is expected to finish 2024 at 6.6% in the Orlando metro.

Flex / R&D

The average Vacancy Rate was 4.1% in the Orlando metro

The Orlando metro had the tenth lowest vacancy in the nation and the sixth lowest in the South Atlantic.
Vacancy in the Orlando metro increased by 50 basis points.
The Orlando metro had the highest vacancy level since Q3 2021.

Office

The average Vacancy Rate was 17.9% in the Orlando metro

Vacancy in the Orlando metro rose by 50 basis points.
The Orlando metro had the highest vacancy level since Q2 2014.
Vacancy is expected to finish 2024 at 17.4% in the Orlando metro.

Retail

The average Vacancy Rate was 10.3% in the Orlando metro

Vacancy in the Orlando metro drifted downward by 20 basis points.
Vacancy is expected to finish 2024 at 10.2% in the Orlando metro.

RENT

Apartment

The average Asking Rent was $1,656 in the Orlando metro

Rent in the Orlando metro was up 0.9% from Q1 2024.
Orlando metro had its fastest rent rate of increase in six quarters.
Rent is expected to finish 2024 at $1,676 in the Orlando metro.

Distribution / Warehousing

The average Asking Rent was $7.45 in the Orlando metro

Rent in the Orlando metro was up 0.4% from Q1 2024.
Rent has risen in every quarter since Q2 2020 in the Orlando metro.
Rent is expected to finish 2024 at $7.63 in the Orlando metro.

Flex / R&D

The average Asking Rent was $10.77 in the Orlando metro

Rent in the Orlando metro was up 0.5% from Q1 2024.
Rent is expected to finish 2024 at $11.01 in the Orlando metro.

Office

The average Asking Rent was $25.94 in the Orlando metro

The Orlando metro remained flat rent since Q1 2024.
Rent is expected to finish 2024 at $26.14 in the Orlando metro.

Retail

The average Asking Rent was $20.72 in the Orlando metro

The Orlando metro remained flat rent since Q1 2024.
Rent is expected to finish 2024 at $20.95 in the Orlando metro.

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Palm Beach

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VACANCY

Apartment

The average Vacancy Rate was 6.6% in the Palm Beach metro

Vacancy in the Palm Beach metro rose by 70 basis points.
The Palm Beach metro was among the 20 highest vacancies nationally.
Vacancy is expected to finish 2024 at 6.9% in the Palm Beach metro.

Distribution / Warehousing

The average Vacancy Rate was 4.2% in the Palm Beach metro

Vacancy in the Palm Beach metro drifted downward by 10 basis points.
Vacancy is expected to finish 2024 at 4.1% in the Palm Beach metro.

Flex / R&D

The average Vacancy Rate was 3.7% in the Palm Beach metro

The Palm Beach metro had the sixth lowest vacancy in the nation and the third lowest in the South Atlantic.
No vacancy change since Q1 2024 in the Palm Beach metro.
Vacancy is expected to finish 2024 at 3.6% in the Palm Beach metro.

Office

The average Vacancy Rate was 14.9% in the Palm Beach metro

The Palm Beach metro had the fifth lowest vacancy in the nation, and the second in the South Atlantic region, behind only Knoxville.
Vacancy in the Palm Beach metro rose by 100 basis points.
The Palm Beach metro had the highest vacancy level since Q3 2021.

Retail

The average Vacancy Rate was 10.2% in the Palm Beach metro

Vacancy in the Palm Beach metro drifted downward by 30 basis points.
Vacancy is expected to finish 2024 at 9.9% in the Palm Beach metro.

RENT

Apartment

The average Asking Rent was $2,111 in the Palm Beach metro

Rent in the Palm Beach metro was up 0.5% from Q1 2024.
Rent is expected to finish 2024 at $2,130 in the Palm Beach metro.

Distribution / Warehousing

The average Asking Rent was $9.15 in the Palm Beach metro

Rent in the Palm Beach metro was up 0.5% from Q1 2024.
Rent has risen in every quarter since Q1 2021 in the Palm Beach metro.
Rent is expected to finish 2024 at $9.32 in the Palm Beach metro.

Flex / R&D

The average Asking Rent was $13.91 in the Palm Beach metro

Rent in the Palm Beach metro was up 0.7% from Q1 2024.
Rent is expected to finish 2024 at $14.22 in the Palm Beach metro.

Office

The average Asking Rent was $38.64 in the Palm Beach metro

The Palm Beach metro had the fastest rent growth in the nation.
Palm Beach metro had its fastest rent rate of increase since Q2 1999.
Rent has risen in every quarter since Q1 2021 in the Palm Beach metro.

Retail

The average Asking Rent was $25.57 in the Palm Beach metro

Rent in the Palm Beach metro was up 0.2% from Q1 2024.
Rent is expected to finish 2024 at $25.88 in the Palm Beach metro.

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Tampa-St. Petersburg

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VACANCY

Apartment

The average Vacancy Rate was 5.7% in the Tampa-St. Petersburg metro

Vacancy in the Tampa-St. Petersburg metro rose by 50 basis points.
The Tampa-St. Petersburg metro had the highest vacancy level since Q3 2012.
Vacancy is expected to finish 2024 at 5.7% in the Tampa-St. Petersburg metro.

Distribution / Warehousing

The average Vacancy Rate was 2.7% in the Tampa-St. Petersburg metro

The Tampa-St. Petersburg metro had the ninth lowest vacancy in the nation and the third lowest in the South Atlantic.
No vacancy change since Q1 2024 in the Tampa-St. Petersburg metro.
The Tampa-St. Petersburg metro had the lowest vacancy level since Q3 2009.

Flex / R&D

The average Vacancy Rate was 5.8% in the Tampa-St. Petersburg metro

Vacancy in the Tampa-St. Petersburg metro drifted upward by 10 basis points.
The Tampa-St. Petersburg metro had the highest vacancy level since Q2 2021.
Vacancy is expected to finish 2024 at 5.7% in the Tampa-St. Petersburg metro.

Office

The average Vacancy Rate was 20.9% in the Tampa-St. Petersburg metro

Vacancy in the Tampa-St. Petersburg metro drifted downward by 40 basis points.
Vacancy is expected to finish 2024 at 21.3% in the Tampa-St. Petersburg metro.

Retail

The average Vacancy Rate was 9.0% in the Tampa-St. Petersburg metro

No vacancy change since Q1 2024 in the Tampa-St. Petersburg metro.
The Tampa-St. Petersburg metro was among the 20 lowest vacancies nationally.
Vacancy is expected to finish 2024 at 9.1% in the Tampa-St. Petersburg metro.

RENT

Apartment

The average Asking Rent was $1,626 in the Tampa-St. Petersburg metro

Rent in the Tampa-St. Petersburg metro was up 0.3% from Q1 2024.
Rent is expected to finish 2024 at $1,643 in the Tampa-St. Petersburg metro.

Distribution / Warehousing

The average Asking Rent was $6.99 in the Tampa-St. Petersburg metro

Rent in the Tampa-St. Petersburg metro was up 0.4% from Q1 2024.
Rent has risen in every quarter since year-end 2019 in the Tampa-St. Petersburg metro.
Rent is expected to finish 2024 at $7.16 in the Tampa-St. Petersburg metro.

Flex / R&D

The average Asking Rent was $10.00 in the Tampa-St. Petersburg metro

The Tampa-St. Petersburg metro had the second fastest rent growth in the nation, behind only Fort Lauderdale.
Tampa-St. Petersburg metro had its fastest rent rate of increase in seven quarters.
Rent has risen in every quarter since Q3 2020 in the Tampa-St. Petersburg metro.

Office

The average Asking Rent was $26.93 in the Tampa-St. Petersburg metro

Rent in the Tampa-St. Petersburg metro was up 0.6% from Q1 2024.
Tampa-St. Petersburg metro had its fastest rent rate of increase in six quarters.
Rent Has risen for eight consecutive quarters in the Tampa-St. Petersburg metro.

Retail

The average Asking Rent was $16.41 in the Tampa-St. Petersburg metro

Rent in the Tampa-St. Petersburg metro was up 0.1% from Q1 2024.
Rent is expected to finish 2024 at $16.53 in the Tampa-St. Petersburg metro.

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Learn more about the Florida markets from one of our professionals.