A recent report published by TradingPedia.com found that North Port, in southern Sarasota County, is seeing the steepest decline in rental prices in Florida and the second-steepest in the country during the first several months of 2026.
The report found that rental costs in North Port are down by 11.44%.
Data scientists with the site said that cities that saw major increases in population and spikes in rental prices are now seeing a decline in rental costs, according to TradingPedia. Cities in states such as Florida have been especially impacted by this pricing decrease, with continued construction outpacing the demand of people seeking housing.
“On the downside, the sharpest rent declines are concentrated in cities that expanded rapidly during the pandemic and are now facing oversupply,” the report says. “Even in high-cost coastal locations … rents have declined, suggesting that price corrections are now reaching segments of the market that had previously remained insulated.”
Several factors appear to be contributing to declining rents across Florida, which ranked No. 5 among states for rent decreases. Despite migration to Florida slowing, construction is continuing, prompting homes and housing complexes to lower prices to attract renters in a competitive market.
North Port City Commissioner Demetrius Petrow told the Herald-Tribune there are currently more than 3,000 vacant houses in the city and that supply now exceeds demand, putting downward pressure on rents.
This trend can be seen in the North Port area of Wellen Park, which is expected to see significant construction in the next few years. In January, U-Haul ranked North Port as the No. 2 “growth city” in the United States, showing that construction is continuing regardless of population growth.
“Supply and demand balances itself out,” City Commissioner Phil Stokes told Sarasota Herald-Tribune. “North Port is experiencing more inventory that prices should come down, and rent should be more affordable.”
Please support local journalism by subscribing.
This article originally appeared on Sarasota Herald-Tribune: Rents in this Sarasota County city are falling fast
Reporting by Michaela Galligan, Sarasota Herald-Tribune / Sarasota Herald-Tribune
USA TODAY Network via Reuters Connect
By Michaela Galligan, Sarasota Herald-Tribune | USA TODAY Network
