Florida Atlantic University Real Estate Economist Ken H. Johnson helped author a study that finds rents are up nearly 33-percent in Miami-Dade year over year, almost 25-percent in Orlando and more than 28-percent in Tampa.
Johnson says working from home as a result of the pandemic has led people to Florida, driving up demand and limiting supply causing those prices to surge.
Johnson says Florida isn't running out of space and that the state's metro areas aren't as densely populated as others around the country.
But Johnson does think that as Florida grows, it will be built more vertically.