Apartment rent in most Florida cities are trading either at a discount compared to long-term pricing trends or premiums of less than 1%, according to researchers at Florida Atlantic University and two other schools. Just a year ago, nearly all the measured Florida metros were at double-digit premiums.

The Waller, Weeks and Johnson Rental Index, a part of FAU's Real Estate Initiative, examines where the average rent is in the 100 most populated metropolitan areas in the United States and compares it to where rents should be based on statistical modeling of historical rental prices.

Rents in Palm Bay and Jacksonville are below their long-term pricing trends, end of April data from the Waller, Weeks and Johnson Rental Index shows. In Palm Bay, rents are at a -.39% discount with the typical unit in the area renting for $1,979.10. For Jacksonville, rents are at a -.15% discount with the average unit renting for $1,743.66.