Landlords Scramble As South Florida Rents Drop To Lowest Levels In 5 Years

In this episode of Miami Condo Mondays™, the hosts discuss why the median monthly rental rate in the tricounty region of Miami-Dade, Broward and Palm Beach has fallen 20% since 2022.Miami Condo Mondays™ features Peter Zalewski of the Miami Condo Investing Club™ and veteran broker Jenny Huertas of CVRRealty.com in a weekly deep dive into South Florida condo real estate.Recorded in Greater Downtown Miami, the podcast delivers an hour of high-level analysis on preconstruction condos, market trends and investment strategies for the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.The show leverages more than 60 years of combined institutional knowledge as Zalewski provides the macro perspective and Huertas offers on-the-ground micro insights from her daily experience in the trenches.The show streams live every Monday at 4 pm on the social media accounts of both hosts to provide an authoritative look at the latest shifts in the condo market.Episode OverviewIn this episode of the Miami Condo Mondays™ podcast on July 20, 2026, co-hosts Jenny Huertas of CVR Realty and Peter Zalewski of the Miami Condo Investing Club™ document the erosion of landlord pricing power across South Florida in the last five years.The hosts contend that rents have entered a correction that mirrors the broader softening already underway in condo resale pricing in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.The numbers pulled by CVRRealty.com reinforce the claim.The median monthly rental rate across Miami-Dade, Broward and Palm Beach counties settled at $2,200 during the first half of 2026 from January through June, down from $2,750 during the same six-month period in 2022 but up $400 from the $1,800 median rent recorded in 2021, when Florida lifted its mask mandate and remote work fueled a wave of newcomers into the region.On a price per square foot basis, the tricounty median monthly rental rate fell to $2.26 during the first half of 2026 from $2.82 in 2022.During the 58-minute episode, the hosts trace the decline to a surge of corporate-owned rental towers undercutting individual condo owners with concessions unavailable to private landlords, including two months of free rent and security deposits as low as $500 in place of the traditional three months due at signing.Despite South Florida’s current 3.8 months of rental supply qualifying as a Landlords Market, the bid-ask spread between asking and achieved rents tells a different story.Miami-Dade County rental listings are striving for $2,930 monthly on a median basis yet achieve $2,500, a spread of 17.2%.Broward County landlords are asking $2,300 and achieving $2,000, a spread of 15%.Landlords in Palm Beach County are asking $2,650 but realizing only $2,200, a spread of nearly 21% for the widest of all in the three counties.Zalewski notes the spread should run closer to 20% in a market where landlords hold genuine leverage, meaning Broward and Miami-Dade owners are conceding ground faster than the headline supply figures suggest.Huertas shared a story about a recent negotiation from her own desk, where a prospective tenant countered a $3,300 listing with an offer of $2,600, illustrating how far renters are now willing to push.The hosts tie the rent decline directly to valuations through the “1% Rule” of real estate investing, the screening tool used by private lenders to size a property against its monthly income.They close the episode divided on the market’s outlook, with Zalewski bearish on landlords and Huertas bullish on tenants heading into the back half of 2026.Click play above to watch the analysis, and use the timestamped timeline and the Top 10 Takeaways below to navigate the program on demand.