Florida’s influx of new residents has fueled the state’s economy and contributed to its overall growth and prosperity. The state’s key student housing markets as a result are thriving. As of early March, every major university has a current occupancy of 94% or more and has seen a positive increase in year-over-year occupancy and prelease percentage points.
Read our ten Macro & Micro Fast Facts below:
Macro Fast Facts
- Florida has the nation’s fastest growing population for the first time in over 60 years.
- Florida has seen 4.8% YOY job growth between 2021 and 2022, the second highest in the nation, behind Texas and above the national average of 2.7%.
- The state is projected to add over 850,000 new jobs by 2030, an 8.6% increase from 2022.
- Despite being the state with the fastest growing population, Florida’s December 2022 unemployment rate of 2.5% is the fourth lowest in the nation and below the national average. 3.5%.
- In 2020, Florida gained more high-earning households than any other state, almost four times more than Texas, which ranked second.
Micro Fast Facts
- Florida had the highest enrollment growth in five years (2018-2022) across all U.S. universities tracked by Axiometrics.
- The state ranks second nationwide in effective rent growth year-over-year (2021 versus 2022) and fifth in rent growth since 2018. This exceeds the U.S. average by 72%.
- The number of high school graduates is on the rise. Florida is projected to see at 17.4% increase in these graduates over the next decade, ranking third across the nation, behind North Dakota and the District of Columbia.
- Florida offers the most affordable in-state tuition at $148 per credit hour which is $159 per credit hour less than the national average.
- The Florida Bright Futures Program awarded over $600 million in merit-based scholarships to Floridians who attended in-state universities during the 2021/2022 academic year.
Download the full Florida Macro & Micro Fast Facts report.