Some beach towns in Florida are contributing to an increase in rents, putting the state ahead of the national average. Many of these coastal markets received an influx of new residents thanks to the remote work wave during the pandemic.
Miami, West Palm Beach, and Fort Lauderdale are historically the only Sunshine State markets where rent growth exceeds national norms. However, with the help of these beach towns, which are seeing increasing demand and limited supply, effective asking prices for conventional properties across Florida were $172 above national rates as of February 2025, according to a RealPage report. Between 2015 and 2020, the state’s overall rental rates ran approximately in line with the national norm.
Joining the three large South Florida markets that typically enjoy higher-than-average rent growth are some of these smaller beach towns, including Naples, Port St. Lucie, North Port, and Tampa. These towns are primarily located along both the Gulf and Atlantic coasts, are relatively small, and have existing unit counts ranging from about 32,000 to 72,000, according to the report. Tampa is an exception, as it is a major apartment market with 293,000 units.
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