Data collected through the local Association Online Market Survey are aggregated and reported in the Apartment Market Survey and Trend Report (AMSTR) twice a year — in the first and third quarters. Below are current numbers and some trends of the overall association areas are provided below. Contact your local association or Support@MyRentComps.com to purchase and AMSTR for the area(s) you work in.
Association Areas
For AMSTR reporting purposes, these are the counties within each association area that make up the statistics in this piece:
Apartment Association of Greater Orlando (AAGO) — Lake, Orange, Osceola, Seminole, Volusia
Bay Area Apartment Association (BAAA) — Hillsborough, Pasco, Pinellas, Polk
Capital City Apartment Association (CCAA) — Leon
Emerald Coast Apartment Association (ECAA) — Escambia
First Coast Apartment Association (FCAA) — Clay, Duval
North Central Florida Apartment Association (NCFAA) — Alachua, Marion
Space Coast Apartment Association (SCAA) — Brevard
Tri-City Apartment Association (TCAA) — Manatee, Sarasota
Occupancy Trends
All markets have witnessed upward occupancy movement over the past five years, with FCAA and SCAA seeing the highest percentage point change and TCAA seeing the lowest. That said, these trends show TCAA above 96 percent for the past three years and holding steady, even with all the development going on in that area. CCAA has seen the biggest one-year increase and its occupancy is just under 95 percent. The highest occupancy in the first quarter AMSTR was in SCAA at 97.1 percent.
| 2011 Q1 | 2013 Q1 | 2015 Q1 | 2016 Q1 | 5-year change | 3-year change | 1-year change | |
| AAGO | 92.09% | 94.49% | 96.20% | 96.63% | 4.54 | 2.14 | 0.43 |
| BAAA | 91.38% | 94.04% | 95.54% | 96.16% | 4.78 | 2.12 | 0.62 |
| CCAA | 90.65% | 90.52% | 92.82% | 94.87% | 4.22 | 4.35 | 2.05 |
| ECAA | 90.79% | 94.11% | 95.25% | 95.86% | 5.07 | 1.75 | 0.61 |
| FCAA | 89.15% | 92.75% | 94.83% | 95.49% | 6.34 | 2.74 | 0.66 |
| NCFAA | 92.00% | 93.82% | 95.62% | 96.75% | 4.75 | 2.93 | 1.13 |
| SCAA | 91.10% | 94.78% | 96.78% | 97.10% | 6.00 | 2.32 | 0.32 |
| TCAA | 93.39% | 96.43% | 96.88% | 96.61% | 3.22 | 0.18 | (0.27) |
Average Rent Trends
Consensus on the street is that rents have been on the rise in the past few years and the trends in the AMSTR corroborate that sentiment. Since the first quarter of 2011, there has been double-digit percent growth for rent in all markets except CCAA, which is just under 9 percent rent growth for the five-year period, or 1.78 percent annualized. AAGO, BAAA, and SCAA are all right at 20 percent rent growth since 2011. TCAA has had the highest percentage of growth in the five-year period at 32.3 percent and currently has the highest average rent at $1,082.
Annual rent growth for the first quarter of 2016 compared to 2015 ranged from 2.6 percent in CCAA to 9.0 percent in BAAA, despite some national trends and economic indicators suggesting there might be some easing on rent growth and stabilization of rents in various markets.
| 2011 Q1 | 2013 Q1 | 2015 Q1 | 2016 Q1 | 5-year increase | 3-year increase | 1-year increase | |
| AAGO | $852 | $892 | $965 | $1,022 | $170 | $130 | $57 |
| BAAA | $839 | $875 | $927 | $1,010 | $171 | $135 | $83 |
| CCAA | $923 | $962 | $980 | $1,005 | $82 | $43 | $25 |
| ECAA | $741 | $787 | $797 | $841 | $100 | $54 | $44 |
| FCAA | $787 | $808 | $855 | $892 | $105 | $84 | $37 |
| NCFAA | $893 | $944 | $935 | $996 | $103 | $52 | $61 |
| SCAA | $730 | $745 | $808 | $873 | $143 | $128 | $65 |
| TCAA | $818 | $894 | $997 | $1,082 | $264 | $188 | $85 |