Florida Rents Since COVID, County by County (2020 to 2026)
Rents rose in every Florida county Zillow tracks between February 2020 and August 2026, from 33% in Bay County to 63% in Indian River. The average across the 35 longest-tracked counties went from $1,324 a month in 2019 to $1,984 in 2026. Almost all of it happened in 2021 and 2022. In the last 12 months, rents moved between minus 1% and plus 3%, and six Gulf Coast counties are still below their peak.
If you own an apartment building in Florida, the single biggest change to your value since COVID is not the interest rate. It is the rent. I pulled the Zillow Observed Rent Index for every Florida county from February 2020, the last month before COVID, through August 2026, the latest month published.
The short version
The average county rent rose 16% in 2021 and another 17% in 2022. Then it nearly stopped: up 3.5% in 2023 and under 1% a year since. Florida's rent boom was a two-year event, and we have been living on its plateau ever since.
Every county, February 2020 vs August 2026
Sorted by total increase. "Vs peak" shows how far today's rent sits below the county's highest month. The last column is the change over the past 12 months.
| County | Feb 2020 | Aug 2026 | Since COVID | Vs peak | Last 12 mo |
|---|---|---|---|---|---|
| Indian River | $1,333 | $2,170 | +63% | at peak | +3.0% |
| Hernando | $1,143 | $1,839 | +61% | -0.2% (peak Sep 2025) | +0.4% |
| Martin | $1,432 | $2,270 | +59% | -0.8% (peak Jul 2026) | +2.9% |
| Nassau | $1,346 | $2,144 | +59% | -1.4% (peak Jun 2026) | +2.2% |
| Palm Beach | $1,671 | $2,660 | +59% | at peak | +3.2% |
| St Lucie | $1,488 | $2,364 | +59% | at peak | +1.9% |
| Miami-Dade | $1,829 | $2,837 | +55% | at peak | +1.1% |
| Highlands | $962 | $1,482 | +54% | at peak | +1.3% |
| Pasco | $1,322 | $2,021 | +53% | -0.5% (peak Mar 2025) | -0.2% |
| Pinellas | $1,322 | $2,026 | +53% | -1.2% (peak Mar 2025) | +0.8% |
| Citrus | $1,134 | $1,723 | +52% | at peak | +1.5% |
| Escambia | $1,094 | $1,665 | +52% | -0.2% (peak Jul 2026) | +2.5% |
| Monroe | $2,367 | $3,601 | +52% | -0.2% (peak Oct 2025) | +2.4% |
| Broward | $1,647 | $2,483 | +51% | at peak | +1.3% |
| Marion | $1,059 | $1,584 | +50% | -0.6% (peak Dec 2025) | -0.2% |
| Okaloosa | $1,324 | $1,984 | +50% | -0.6% (peak Jun 2026) | +3.3% |
| Santa Rosa | $1,292 | $1,943 | +50% | at peak | +2.6% |
| Collier | $1,727 | $2,567 | +49% | -5.9% (peak Dec 2023) | +1.7% |
| Leon | $985 | $1,470 | +49% | -0.8% (peak Apr 2026) | +1.5% |
| Hillsborough | $1,357 | $1,992 | +47% | -1.1% (peak May 2025) | -0.8% |
| Brevard | $1,305 | $1,898 | +45% | -0.2% (peak May 2026) | +1.3% |
| Flagler | $1,287 | $1,867 | +45% | -0.8% (peak Apr 2026) | +0.9% |
| Volusia | $1,203 | $1,739 | +45% | at peak | +1.2% |
| Lee | $1,288 | $1,852 | +44% | -8.8% (peak Mar 2023) | -0.4% |
| Charlotte | $1,309 | $1,872 | +43% | -7.0% (peak Jan 2023) | 0.0% |
| Clay | $1,282 | $1,835 | +43% | -0.8% (peak Jun 2026) | +1.3% |
| Lake | $1,408 | $2,014 | +43% | -0.4% (peak Jun 2026) | +1.0% |
| Polk | $1,288 | $1,840 | +43% | -0.4% (peak Jun 2026) | +1.2% |
| Alachua | $1,161 | $1,643 | +42% | at peak | +1.7% |
| Manatee | $1,437 | $2,045 | +42% | -3.9% (peak Mar 2023) | -0.5% |
| Walton | $1,380 | $1,947 | +41% | -4.1% (peak Aug 2022) | +0.4% |
| Osceola | $1,424 | $1,992 | +40% | -2.0% (peak Jun 2026) | +0.1% |
| St Johns | $1,453 | $2,038 | +40% | at peak | +0.8% |
| Sarasota | $1,526 | $2,144 | +40% | -5.6% (peak Jan 2023) | -0.7% |
| Seminole | $1,339 | $1,878 | +40% | at peak | +1.4% |
| Duval | $1,163 | $1,616 | +39% | at peak | +2.0% |
| Orange | $1,412 | $1,941 | +37% | at peak | +0.7% |
| Bay | $1,313 | $1,745 | +33% | at peak | +1.4% |
Three things the table says
1. The Atlantic coast won. Indian River, Palm Beach, St. Lucie, Martin and Miami-Dade are all up 55% to 63%, and most of them are at their peak right now. Demand there has not cooled.
2. The Gulf Coast gave some back. Lee (-8.8%), Charlotte (-7.0%), Collier (-5.9%), Sarasota (-5.6%), Walton (-4.1%) and Manatee (-3.9%) are below their highest month. Most of them peaked in early 2023. Two things hit at once. Hurricanes Ian, Helene and Milton pushed insurance and repair costs up. And new supply kept coming: in 2025, Manatee permitted 3,645 units in buildings of five or more, the most per resident of any Florida county I track, with Sarasota and Lee also in the top five (Census building permit data). Rent stopped climbing while expenses kept rising, which squeezes net income from both sides.
3. Inland Florida held. Polk, Marion, Alachua, Leon and Orange rose a steadier 37% to 50% and are near their peaks. These are the markets where small-building owners have quietly done well.
What this means for your building's value
Buyers pay for collected rent, not Zillow's index. So the real question is how far your in-place rents sit below today's market. Long-held buildings with loyal tenants are often well under market, because renewals were never pushed. That gap is value a buyer will pay for only if you show it with a clean rent roll and a lease-up plan. If you push rents yourself before selling, you capture it.
The other side is expense. Rents in most of Florida are up 40% to 60% since COVID, but Florida apartment insurance now runs $950 to $1,500 a door, up from about $400 in 2013, and much of that climb came in the same years rents jumped. When rent and expenses rise together, your net operating income rises far less than your gross. That is the number your price is built on. My full method is in how much is my apartment building worth.
For a building with voucher tenants, compare Zillow to HUD's numbers. In several Florida metros the new HUD Fair Market Rent is at or above the market average. See HUD Fair Market Rents in Florida for 2027.
How I built these numbers
Rents are the Zillow Observed Rent Index (ZORI), all homes, smoothed, at the county level, as published by Zillow Research. It covers houses as well as apartments, so treat it as the direction of the market, not a rent for your unit. Counties without a February 2020 reading are left out. For how rents fed into sale prices, read what interest rates did to Florida apartment prices.
Questions owners ask
How much have Florida rents gone up since COVID?
Across the 38 Florida counties Zillow tracked in both February 2020 and August 2026, rents rose between 33% (Bay County) and 63% (Indian River County). Miami-Dade rose 55%, Hillsborough 47%, Orange 38% and Duval 39%. The average of the 35 longest-tracked counties went from $1,324 a month in 2019 to $1,984 in 2026.
Are Florida rents going down?
In most counties, no. Over the 12 months to August 2026, rents moved between about minus 1% and plus 3%. But Lee, Charlotte, Collier, Sarasota, Walton and Manatee are 4% to 9% below their peaks, most of which came in early 2023.
Which Florida county had the biggest rent increase since 2020?
Indian River County, up about 63% from February 2020 to August 2026 on the Zillow Observed Rent Index. Hernando, Nassau, Palm Beach, St. Lucie and Martin were all close behind at 58% to 61%.
What is the average rent in Florida in 2026?
The average of the Zillow Observed Rent Index across 35 Florida counties was about $1,984 a month for January to August 2026. County averages range from about $1,470 in Leon to $2,837 in Miami-Dade and $3,601 in Monroe.
I use these rent trends to price every building I sell as a Florida apartment building broker. If you are not sure how far your rents are under market, call me and I will tell you what a buyer will believe.
