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Florida Office Rent Cost Report Q2 2020

Chris Owen • 8/5/2020
The COVID-19 pandemic struck the U.S. in March 2020, late in the quarter but with enough time to have a significant impact on first quarter market fundamentals.

Florida Office Rent Cost Graphic

In the second quarter of 2020, the U.S. economy felt its effects more fully, as government-mandated shutdowns along with shelter-in-place ordinances pushed the country deeper into recession. The situation remains very fluid. Access the most recent information specific to COVID-19 here
Florida's unemployment rate was 10.4% in June 2020, down 330 basis points (bps) from the month prior and 720 bps from one year ago. Florida's consumer driven market and heavy reliance on tourism meant that large swaths of working age people were laid off or furloughed.

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