The COVID-19 pandemic led to a significant migration to U.S. beach towns, particularly in Florida, resulting in a notable increase in rents. As of February 2025, effective asking prices for conventional apartments in Florida averaged $172 above national rates. Beach towns, previously lagging behind, now rank above the U.S. average in rent growth. Naples saw effective rents rise to $2,212, driven by increased demand and limited supply. Other markets like Tampa and North Port also experienced substantial demand and rent increases, with supply struggling to keep pace.
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