31 Florida cities ranked by estimated cap rate. The average cap rate across Florida markets is 4.6%, with median home prices averaging $364K and rents averaging $1,950/mo. Clewiston leads with a 6.6% cap rate at a $275K median price. Property taxes average 0.86% across Florida markets.
Florida offers 31 investable rental markets tracked by CapRateCity. The state average cap rate of 4.6% is above the 3.81% national average, making Florida an attractive state for cash flow investors. No cities pass the 1% rule at median prices, so value-add strategies are essential.
Prices and rents: Florida home prices average $364K, which is 9% above the national average of $333K. Rents average $1,950/mo. The most affordable entry point is Palatka at $210K, while Clewiston offers the highest cap rate at 6.6%.
Taxes and costs: Property taxes average 0.86% across Florida, below the 1.08% national average — a meaningful cash flow advantage that adds roughly $805 per year to NOI on an average-priced property. Pensacola has the lowest rate at 0.79%.Vacancy averages 5.2%, tighter than the national average — favorable for landlords.
Growth outlook: Population growth across Florida averages 1.89% per year, led by Port St. Lucie at 3.5%. Home values are appreciating at 3.7% annually on average. Strong population growth is driving housing demand and supporting both rent increases and price appreciation across the state.
Bottom line: Florida offers moderate opportunities for rental investors. The best deals are in cities at the top of the ranking — use the calculators on each city page to model specific properties.