Are you considering moving to South Florida, or are you in the current market looking for a rental? Here’s a look at what the data shows about the South Florida housing/rental markets where properties are being leased—or rented out—fastest. This covers which cities are hottest, what types of homes are moving quickest, and the broader trends driving speed in rentals.
What the Data Tells Us
Key Performance Metrics
When we say “fastest rented out,” some of the typical metrics are:
- Days on market (DOM): how many days from listing to lease being signed.
- Absorption / absorption rate: share of available listings that are taken off the market in a given period.
- Median asking rent changes: sharp rent increases often correlate with faster turnover.
- Inventory vs. demand: markets with tight supply tend to see units move quickly.
Recent Trends in South Florida
Here are some of the patterns observed in recent reports (as of 2024-2025):
- Strong demand especially for single-family homes, particularly where owning is expensive or difficult.
- Faster leasing (lower days on market) in lower-to-mid price bands, especially in cities and zip codes where median asking rents are at or below certain thresholds.
- Vacation or resort-adjacent markets also see faster absorption and rent increases—places that attract seasonal demand or which have desirable amenities.
Cities & Areas Leasing Out Fastest
Here are specific South Florida locales that stand out in terms of how quickly properties are being rented out:
| City / Area | Highlights: Speed / Absorption / Days on Market |
|---|---|
| Hialeah | One of the highest absorption rates in multifamily below ~$2,500 asking rent; high demand in affordable segments. |
| Boynton Beach | Among the top in absorption (multifamily, below certain rent thresholds). |
| Fort Lauderdale | Similar strong leasing action; lower DOMs for many single-family rentals, especially for those under certain rent levels. |
| Hollywood | High absorption in regions where rents are more moderate, and single-family homes are moving quickly. |
| Port St. Lucie | Faster leasing of single-family homes; short market times in certain neighborhoods. |
| Key Biscayne, Palm City, Jensen Beach | Especially fast for single-family homes in higher end / vacation-style areas. E.g. Key Biscayne had some listings leased in as few as 5 days. |
| Opa-Locka, Miami Gardens, Homestead | For single-family homes in more affordable or lower rent bands, absorption is very strong; units rent relatively quickly. |
Why These Markets are Moving Quickly
Several overlapping factors explain why some markets in South Florida are “hot” in terms of rental speed:
- High home ownership costs / mortgage rates
Many people are priced out of buying, so demand for renting increases. Single-family rentals benefit as an alternative to buying. - Strong population growth / migration
South Florida continues to draw people, both from inside Florida and from other states, seeking favorable tax situation, warm climate, opportunity, etc. That increases competition for rental units. - Tight supply in desirable price bands
Where rents are moderate (for the region), inventory is often limited. New construction is sometimes happening, but there’s a lag between project approval, building, and availability. In pricier neighborhoods or luxury markets, supply might be more available, but demand is strong in mid- and lower ranges. - Seasonal and vacation market effects
Vacation-friendly towns or coastal communities see seasonal surges in renters (short-term or longer leases) which can temporarily reduce days on market. Also, people looking for winter leases or “snowbirds” add demand in certain months. - Rental vs. Buying calculus
With increasing mortgage rates or high down payments, renting becomes more attractive even for people who might otherwise consider buying. Especially for those anticipating staying for shorter periods, or uncertain about where they’ll want to settle.
What to Watch For / Risks & Moderations
While many markets are fast, there are signs of cooling or moderating speed in some cases:
- In multifamily units, especially high-rent apartments, increases in listings have in some areas led to slower rent growth or higher days on market.
- A surge in active listings in certain counties (Miami-Dade, Broward) is providing more options for renters, which could lengthen market times in some neighborhoods.
- For single-family homes in the highest price brackets (luxury, waterfront, etc.), while demand remains, properties may stay listed longer due to cost sensitivity.
Implications for Renters, Landlords, and Investors
- Renters: If you’re looking in hot areas, expect to act quickly. Well priced properties at “market rate” tend not to linger. For desirable zip codes (good schools, amenities, commute, etc.) – properties may be gone in days. Also, having paperwork ready, being flexible on move-in dates helps.
- Landlords: Pricing somewhat competitively (just at or below comparable, given condition) helps ensure fast leasing. Investing in upkeep, small upgrades, staging can reduce DOM. Targeting markets with supply-demand imbalance (lower rent bands, affordable neighborhoods, etc.) is a promising strategy.
- Investors & Developers: Monitoring where absorption is strongest (both for single-family as well as multifamily) is key. Also consider building or buying in areas where rents are rising fastest but supply is lagging. Keeping an eye on zoning, permitting, and the pace of new construction helps anticipate when the market might soften.
We hope you find this information valuable as a directional guide to the South Florida rental market. If you would like more tailored insights on specific areas or would like to schedule property showings, please don’t hesitate to reach out. We are here to assist you every step of the way.