Multifamily rents in region begin a pandemic-led slide

The long reach of the coronavirus pandemic has punctured what was a long period of rising multifamily rents in the state, according to a new report from real estate data firm CoStar.

Naples, with a 3.61% drop in multifamily lease rates from March 11 through April 5, posted the second-largest fall in the state, behind only Fort Walton Beach, at 3.97%. Overall, 16 markets statewide have losses that exceed 1%, the report shows. Ocala, with a 0.25% gain, is the lone region in Florida with a gain.