Investment sales across Florida.
Orlando, Tampa Bay, and the Space Coast.
High Peaks Capital Advisors represents owners of multifamily and industrial property in Florida, covering the Orlando, Tampa Bay, and Space Coast markets on dispositions, valuations, and off-market placement.
Florida multifamily is mid-correction, and that is the story — not growth. Supply is being digested, pricing has reset materially, and the insurance shock that broke a great many proformas is genuinely reversing. Owners who waited out the insurance crisis have a window now that did not exist in 2024.
Vacancy off its peak, absorption positive, pipeline shrinking. A top-ten US industrial rent growth market.
Tampa Bay Tampa BayValues down 23% in a year, while small-bay industrial leads the state at 3.2% vacancy.
Brevard County Space Coast36,000 aerospace jobs, $98,000 average salaries, and a twelve-year industrial land shortage.
The reforms worked.
After years of 20–30% annual increases that made Florida the most expensive state in the country for property insurance, the market is stabilising and in many cases pricing is falling.
The causes are structural rather than cyclical. Legal reforms passed in 2022 and 2023 eliminated one-way attorney fees and restricted assignment-of-benefits abuse, which sharply reduced litigation costs for carriers. Reinsurance costs moderated as catastrophe modelling improved and capital returned. Carriers that had exited are re-entering, and the state-backed insurer's policy count has fallen as private carriers absorb more risk.
The clearest published marker: the Florida Insurance Commissioner approved an 8.7% average statewide decrease for Citizens Property Insurance, with more than 330,000 policyholders across all 67 counties seeing reductions and over 150,000 receiving cuts of 10% or greater.
Nearly all published Florida insurance data covers homeowners policies, not commercial or multifamily. The reform mechanism and the direction of travel carry across to commercial lines; the specific percentages do not.
We cite Citizens as an illustration of direction, not as a multifamily rate cut. For any actual underwriting we work from your policy and current quotes, not from a statewide homeowners average.
Why this matters to a seller: insurance cost per unit was the single largest driver of the buyer-pool contraction in 2023 and 2024. Assets that could not be financed at 2023 insurance quotes can be financed now. That is a widening buyer pool, and it is the most underappreciated positive in the Florida market today.
Both Orlando and Tampa are working through the largest delivery waves in their histories, and pricing has reset accordingly. They are not, however, at the same point. For an owner, the single most useful question is not whether values fell — they did — but whether the pipeline in your specific market has stopped growing.
| Orlando | Tampa Bay | |
|---|---|---|
| Construction pipeline | Shrinking | Expanded 21% YoY |
| Absorption | Positive | Lagging deliveries |
| Vacancy trend | Falling from an 11% peak | Pressured through 2026 |
| Rent trend, YoY | −2.4%, forecast +1.2% by year end | −2.9%, among weakest nationally |
| Median price per unit | — | $185,400, down 23% in 2025 |
In Orlando the pipeline has stopped growing and absorption has turned positive. In Tampa it has not quite. That difference is the most important input into a hold-or-sell decision, and it points in opposite directions in two metros ninety minutes apart.
The Space Coast sits outside this frame entirely. Brevard County's constraint is a shortage of developable industrial land running since 2014, against expanding high-wage aerospace employment — scarcity rather than oversupply.
Across all three Florida markets, industrial is in a stronger position than multifamily, and small-bay industrial is stronger still.
- Tampa small-bay sits at 3.2% vacancy with 6.5% rent growth, leading the state, against overall industrial vacancy of 7.3–7.5%.
- Orlando is ranked by CBRE among the top ten United States markets for projected industrial rent growth in 2026, at 7–9% annually, despite current vacancy of 10.1%.
- Brevard County has run a shortage of development-ready industrial sites since 2014, with flex and light manufacturing demand described as being at an all-time high.
If you own industrial or flex product in Florida, you are in a materially better negotiating position than an apartment owner in the same metro, and the marketing process should reflect that.
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Is Florida property insurance actually getting cheaper?
The market is stabilising and in many cases pricing is declining. The Florida Insurance Commissioner approved an 8.7% average statewide decrease for Citizens Property Insurance, with more than 330,000 policyholders across all 67 counties seeing reductions and over 150,000 receiving cuts of 10% or greater.
The drivers are structural: 2022 and 2023 legal reforms eliminated one-way attorney fees and restricted assignment-of-benefits abuse, litigation costs fell, reinsurance moderated, and carriers are re-entering. Note that these published figures cover homeowners policies rather than commercial or multifamily — the direction carries across, the specific percentages do not.
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Have Florida apartment values bottomed?
It differs by market. Orlando shows the clearer signs of a turn: vacancy has fallen from an 11% peak in late 2024, absorption has gone positive, and the construction pipeline is shrinking. Tampa has not reached that point, with the pipeline up 21% year over year to roughly 15,000 units under construction.
Tampa's median price per unit fell 23% in 2025 to $185,400, a steeper correction than most comparable Sun Belt markets. Buyers are active again at that reset basis — first-quarter 2026 volume was the highest since 2022 — but the supply pressure has not finished working through.
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Which Florida market is best to sell into right now?
On current data, Orlando is further through its supply correction than Tampa, with a shrinking pipeline and positive absorption. Tampa sellers face a pipeline that is still expanding, which argues against waiting purely on the expectation of a better exit.
The Space Coast is a different case entirely: scarcity rather than oversupply, driven by a twelve-year shortage of developable industrial land and a high-wage aerospace employment base. Across all three, industrial and small-bay flex are in a stronger position than multifamily.
Sources. Insurance: Florida Chamber of Commerce and Greene & Associates. Orlando: Colliers and CBRE. Tampa: NorthMarq and CBRE.
Market figures on this page are drawn from third-party research and public records and are cited to their sources. They are provided for general information, are current only as of the dates indicated, and will change. Nothing here is legal, tax, or investment advice, and nothing here is an offer to sell or a solicitation of an offer to buy any security or service. Regulatory summaries are general descriptions of published law, not a determination of how any statute applies to a specific property — consult counsel before acting.
Every Florida assignment is led personally by Derek Carroll.
Initial conversations are confidential and obligation-free. If a sale is not the right move, we will tell you that.
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