Has South Florida’s Residential Rental Market Peaked?

A review of the South Florida rental statistics shows residential leasing activity flatlined on a year-over-year basis during the 2024 Summer Buying Season.

Tenants paid a median price of $2,300 monthly for residential units leased during the South Florida Summer Buying Season that spanned from May through October 2024. (Photo courtesy of CVRRealty.com)

Has the South Florida residential rental market peaked?

The number of leases completed in South Florida flatlined during the recently concluded 2024 Summer Buying Season, according to an analysis of statistics compiled by CondoVulturesRealty.com.

Tenants leased only about 32 more residential properties in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach during the 2024 season compared to a year earlier in the 2023 season.

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This information is provided for general informational purposes only, based on research, personal experience and interviews. It should not be considered legal advice, as we are not attorneys. While believed to be accurate and complete, this information is provided “as is” without warranty or guarantee of any kind.

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