Growth in high-paying jobs is helping to drive apartment demand, and in some cases, higher rents, in Florida, according to a new report from Greg Willett at Institutional Property Advisors.
He reported that a "stunning" 58 percent of new jobs created in the state are in industries with high-income ceilings, such as professional and business services, finance, and information, which includes several technology sectors.
Today's employment count of 9.66 million jobs in the state is up 1.82 million positions from the April 2020 low and is more than 500,000 jobs ahead of the early 2020 pre-pandemic peak. In the past, high-paying positions have traditionally accounted for only a quarter or so of the state's jobs.
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