Florida rents increased by nearly 40% between 2019 and 2023

Homelessness among Florida families rose by 28% in the last three years, a report from the University of Florida found. The 2025 Rental Market Study conducted by UF Shimberg Center for Housing Studies found that rent for multifamily units in Florida rose by 39% between 2019 and 2023, as 1 million households entered the state. “Florida’s strong population growth has collided with limited housing supply, pushing rents beyond what many families can afford,” said Anne Ray, manager of the Florida Housing Data Clearinghouse at the Shimberg Center. [Source: Florida Phoenix]

Report: Florida insurers denying more claims despite tort reform

As Florida enters the peak of hurricane season, a new report suggests insurers are denying more homeowners' insurance claims while policyholders are suing at higher rates to challenge those denials. The report, released by Weiss Ratings, analyzed official data from the National Association of Insurance Commissioners (NAIC). It found that, in 2024, insurers operating in Florida denied payment on 46.7% of closed homeowners' claims, compared with 40% in 2022. [Source: Insurance Business Magazine]

Florida House to begin work on property tax overhaul

With a Florida House committee taking its first steps toward overhauling how much Floridians pay in property taxes, “everything is on the table,” the panel’s co-chair said. But what is not in play is what Gov. Ron DeSantis has touted. Rep. Toby Oberdorf, R-Palm City, said that when lawmakers gather at the Capitol later this month for the initial meetings of the House Select Committee on Property Taxes, there will be no discussion of a complete wipe-out of property taxes, nor of tax relief involving direct payments to homeowners from state funds. [Source: Tallahassee Democrat]

As foreclosures increase nationwide, Florida ranks second

Florida ranks second highest in foreclosure rates nationwide, a July report found. ATTOM Data Solutions, a leading property data analysis group, reported foreclosures have increased 11% across the U.S. since July of last year -- and were up 13% in July compared to the previous month -- indicating that Americans are struggling to keep up with their mortgage payments. Florida’s percentage was smaller -- at 3.4% -- but its foreclosure rate of one in every 2,420 homes is second only to Nevada, where it’s one in every 2,326. [Source: Central Florida Public Media]

What’s hottest trend in retail? Anything tied to wellness

The fitness industry and anything wellness-related are fast becoming some of the biggest retail players in the market today. It’s one of the rare business sectors that appeals to all generations, from Gen Z to Boomers, said Gregg Katz, director of business industry solutions for Esri, a leading mapping software company. Jason Kaiser, Senior VP for SRS Real Estate Partners, said gyms used to be considered undesirable uses for grocery-anchored retail centers, but that’s all changing. [Source: Orlando Sentinel]

STAT OF THE WEEK
$2.1 million
Frank Lloyd Wright's sole private home design in the state of Florida has been listed for sale for the first time in its 71-year history—with an asking price of $2.1 million. [Source: Realtor.com]

ALSO TRENDING:

› Central Florida coastal counties among leaders in vacant homes, affecting property values [Orlando Business Journal]
Two coastal counties in Central Florida are among the top 10 U.S. metro areas with the highest share of vacant homes, according to a recent study by Cinch Home Services. The Palm Bay-Melbourne-Titusville metro ranked No. 4 nationally, with 14.9% of homes unoccupied, while the Deltona-Daytona Beach-Ormond Beach area tied for No. 5 with 14.5%, the same rate as New Orleans.

› Key Biscayne challenging Miami Beach for wealthy residents [Islander News]
For decades, Miami Beach has been the undisputed capital of South Florida’s luxury coastal lifestyle with its art deco towers, neon nightlife and oceanfront penthouses. In the past 24 to 36 months, an unmistakable shift has begun to take shape just across the bay. Welcome to Key Biscayne, the barrier island once known more for its tranquility and family- friendly vibe than for trophy real estate sales. Today, it’s become one of the hottest ultra-luxury waterfront markets in the United States.

› Pensacola considers expanding temporary housing options [WUWF]
Pensacola is poised to take another step in its homelessness response by approving leases for 28 "pallet" shelters—small, prefabricated cabins designed for short-term stays. The City Council will consider a bundle of measures at its agenda conference on Sept. 8 and at its regular meeting on Sept. 11 that would finalize use of federal American Rescue Plan Act funds previously set aside for the purchase of the units and authorize two nonprofits to run them under no-rent leases.

› In downtown St. Petersburg, a proposed $134M tower hits height hurdles [Tampa Bay Times]
Plans to demolish seven structures within the Downtown St. Petersburg National Register Historic District to build a 21-story, $134 million luxury apartment tower will have to wait until November. However, the Development Review Commission’s concerns focused more on the proposed building’s height and compatibility with the surrounding neighborhood. Attorney Don Mastry, who represents Stadler Development, agreed to defer Wednesday’s vote rather than face a potential denial.

Florida sees record number of homes for sale