Florida is experiencing a surge in population growth, demand for rental housing, and strong economic indicators, making it one of the most promising markets for multifamily real estate investment. At Countrywide, we are seizing opportunities in this thriving region, which offers a combination of favorable market conditions, strong occupancy rates, and landlord-friendly regulations.
1. 2.5 Million Population Increase by 2030
Florida is one of the fastest-growing states in the U.S., with a consistent population growth rate of at least 1.5% annually. In 2022, Florida saw the largest population increase of any state, with a 1.9% rise, according to the U.S. Census Bureau. This explosive growth is not temporary—by 2030, Florida’s population is expected to grow by an additional 2.5 million people, creating a long-term demand for multifamily housing.
2. 7.7% Growth in Renter Households
The preference for renting versus buying in Florida has risen significantly, with a 7.7% increase in renter households since 2020, according to CBRE. The U.S. Census Bureau reports that 33.5% of Florida residents rented last year.
Florida’s population growth is driving unprecedented demand for multifamily rentals.
“Florida is adding renter households at an impressive pace, realizing some of the strongest demand for apartments seen anywhere across the country.”
3. Higher Average Household Incomes
Florida’s renters have higher average incomes than the national average, creating the potential for increased rental rates and higher returns for investors.
- 2023 Average Annual Household Income in Florida: $123,400
- U.S. National Average: $97,400
- Florida Renter Income Advantage: 27% higher than U.S. average
Higher-income renters mean greater affordability for market-rate apartments, which aligns with Countrywide’s focus on quality multifamily developments.
4. 0% State Income Tax and Landlord-Friendly Policies
Florida’s zero state income tax makes it an attractive destination for both residents and investors. Combined with landlord-friendly regulations—such as limited rent control laws and flexible eviction processes—Florida provides an excellent environment for maximizing rental property profitability.
Additionally, investors can benefit from federal tax benefits, such as depreciation deductions, further enhancing potential returns.
5. Strong Occupancy Rates at 95.3%
Occupancy rates for multifamily properties in Florida average 95.3%, which is 2% higher than the national average, according to CBRE.
Higher occupancy rates directly correlate to more consistent rental income and better returns, making Florida a stable and attractive market for multifamily investment.
6. Estimated Shortfall of 82,000 Multifamily Units
Florida faces a significant housing shortage, with an estimated shortfall of 82,000 multifamily units over the next five years, according to The Shimberg Center for Housing Studies. This undersupply positions investors to capitalize on growing demand as more residents move to the state.
Invest in Florida with Countrywide
At Countrywide, we focus on identifying high-growth markets like Florida, where strong population and income growth, coupled with limited housing supply, create lucrative investment opportunities. One such opportunity is our luxury market-rate apartment project in Eusis, Lady Lake, Tavares, Florida.
Why Countrywide?
As a leader in multifamily real estate development and investment, Countrywide has a proven track record of success in creating high-quality projects that deliver strong returns for investors. Florida’s robust growth, high demand for rental housing, and landlord-friendly environment make it the perfect location for multifamily investments.
By partnering with Countrywide, you can take advantage of Florida’s booming market and secure your stake in one of the nation’s most dynamic real estate opportunities.
