Florida rent: New data shows decrease in state rent along with Naples rent. What to know

Apartment hunting can be rough, especially if you’re on a budget. But new data shows Florida’s rent is actually decreasing.

A study from Rent.com shows new state numbers from a January 2024 rent report.

Here’s what you need to know about Florida rent:

How is Florida’s rent changing?

Though rents since the pandemic have risen by 23%, median rents in the south have decreased for the fourth consecutive month.

Florida’s median rent sits at $2,095 with a a 9.21% decrease year over year. We’re the state with the most drastic decrease in rent, followed by Idaho and Oregon.

The state’s month over month change is 1.14%.

In contrast, Mississippi has the highest year over year change with a rent increase of 14.67%. It’s followed by New Hampshire with a 12.81% increase and Michigan with a 12.47% increase.

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How does Naples rent compare?

Right now, Rent.com states the average rent for a one bedroom in Naples is $1,922 and a two bedroom is $2,508.

Believe it or not, those rates have decreased over time.

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Rent.com data says the average rent for a Naples on bedroom has decreased 14% and the average rent on a two bedroom has decreased 11 percent.

Rural Estates rent has decreased 18% annually, but rent in East Naples has increased 7% and rent in Central Naples has increased 2%.

Surrounding areas like Fort Myers and Bonita Springs have experienced an annual decrease in rent as well, with Fort Myers at -4% and Bonita at -52 percent. Cape Coral has upped its rent with a 25% increase.