Overview

Sigh rise: As affordable rental demand is filled, average rents will trend down

IBISWorld’s industry research report on Apartment Rental in Florida provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Increased supply at the high end of the market has created a supply crunch in the middle- and low-income rental market
  • The aging population of baby boomers is also driving demand for rental units
  • Higher incomes will leave tenants with more money after accounting for living expenses

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    Industry Analysis & Industry Trends

    Over the five years to 2017, the Apartment Rental industry in Florida is poised to outgrow prerecessionary highs. Construction of luxury apartments has outpaced demand, which has depressed average rents somewhat for this segment. More specifically, this increased supply at the high end of the market has created a supply crunch in the middle- and low-income rental market, elevating rents for this segment. Over the five years to 2022, industry revenue growth is expected to decelerate. As the supply of affordable housing in Florida catches up to demand, rents will trend more toward the national median...

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    Industry Report - Industry Locations Chapter

    The distribution of apartment rental establishments typically follows population concentration. The more people live in a particular area, the more apartments there are. Population density is also important. For example, in large cities where there is limited space, apartments make up a larger proportion of housing.

    Jacksonville-North

    The Jacksonville-North region is home to an estimated 10.8% of industry operators. This region's level of industry activity is slightly less than its 12.3% share of the state's population. Large urban centers are the primary hubs of demand for industry services, and Jacksonville, the state's largest city, is no different. Overall, this region's level of population is largely in line with its share of statewide employment, at 12.0%. Thi..

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    Additional Insights for the Apartment Rental in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Apartment Rental in Florida Industry are

  • Financial structure of the company
  • Management of a high-quality assets portfolio
  • Superior financial management and debt management
  • IBISWorld analysts also discuss how external factors such as Rental vacancy rates and Homeownership rate in Florida in the Apartment Rental in Florida industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Apartment Rental in Florida Industry?

    Operators in this industry act as lessors of buildings used as residences or dwellings. Industry participants are owner-lessors of residential buildings and establishments that rent real estate and then act as lessors by subleasing it to others. In addition to apartment rentals, the industry also includes single-family homes and town houses.

    Industry Products
    Single units (attached and detached)
    Two to four units
    Five to nine units
    10 to 19 units
    20 to 49 units
    50 or more units
    Manufactured and mobile homes
    Cooperatives and condominiums
    Industry Activities
    Renting or leasing residential buildings
    Renting or leasing residential dwellings

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Rental vacancy rates
  • Homeownership rate in Florida
  • Number of adults aged 20 to 64 in Florida
  • Median household income in Florida

  • Current Performance
  • Dynamics of demand
  • Demographics of demand
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Economy provides stimulus
  • Favorable demographics
  • Supply and competition from housing
  • Table: Apartment Rental in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Apartment Rental in Florida Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Finance and Insurance
  • Retirement & Pension Plans

  • Key Selling Industries
  • Construction
  • Finance and Insurance
  • Landscaping Services
  • Property Management
  • Real Estate Sales & Brokerage
  • Utilities

  • Products & Services
  • Single units (attached and detached)
  • Cooperatives and condominiums
  • 10 to 19 units
  • Two to four units
  • 20 to 49 units
  • 50 or more units
  • Five to nine units
  • Manufactured and mobile homes
  • Chart: Apartment Rental in Florida Industry Products and Services Segmentation

  • Major Markets
  • One-person households
  • Two-person households
  • Households with four or more persons
  • Three-person households
  • Chart: Major Market Segmentation for the Apartment Rental in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitDepreciationWagesPurchases and marketingRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Apartment Rental in Florida

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Apartment Rental in Florida Industry

  • Major Companies
    Berkshire Hathaway HomeServices Florida RealtySotheby’s International RealtyWatson Realty Corp.The Keyes Company
  • Table: Berkshire Hathaway HomeServices Florida Realty - financial performance
  • Table: Sotheby’s International Realty - financial performance
  • Table: Watson Realty Corp. - financial performance
  • Table: The Keyes Company - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Apartment Rental in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Apartment Rental in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Rental Vacancy Rate (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Dwelling
  • Another name for an apartment or home.
  • Funds From Operations
  • Funds used to define cash flow from operations for REITs that are calculated by adding depreciation and amortization expenses to earnings.
  • Leadership In Energy And Environment Design (Leed)
  • An eco-oriented building certificate program established under the US Green Building Council. LEED-certified buildings are energy efficient and green certified.
  • Occupancy Rate
  • The amount of occupied real estate space as a percentage of total available space.
  • Real Estate Investment Trust (Reit)
  • A legal entity that uses pooled investor capital to purchase and manage income property or mortgage loans. To qualify as an REIT, the entity must distribute at least 90.0% of taxable income.
  • Rental Agreements
  • An agreement with no set period of occupancy in which landlords and tenants are free to make changes to the contract at the end of each 30-day period.
  • Vacancy Rate
  • The amount of unoccupied real estate space as a percentage of total available space.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Apartment Rental in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Apartment Rental in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Apartment Rental in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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