Rent in South Florida up 57%, study says

WEST PALM Seaside, Fla. — For renters, the demand for economical housing proceeds to explode.

Realtor.com tracks prices across the region and not long ago unveiled facts showing the Miami-Fort Lauderdale-West Palm Seashore marketplace experienced the biggest boost in the U.S.

The review confirmed median rent in South Florida was just below $3,000 per thirty day period in March. That’s a 57.2% leap from the prior year and by far the premier share maximize in the country.

Two other Florida markets — Orlando-Kissimmee-Sanford and Tampa-St. Petersburg-Clearwater — saw the closest premiums of alter in the ordinary lease rate at 35% and 31%, respectively.

The median price tag for a two bedroom rental in South Florida is nearer to $3,400 for every thirty day period, in accordance to Realtor.com.

Despite owning the best 12 months-over-year change in rent, the Sunshine Point out failed to have the greatest overall median lease. That title still belongs to California.

Among the 50 metros evaluated, only 3 have overall median rents at $3,000 for every thirty day period or a lot more, and they’re all in California. San Jose-Sunnyvale-Santa Clara has the optimum at $3,075, adopted by San Diego-Carlsbad at $3,016 then Los Angeles-Extensive Seaside-Anaheim at $3,000.

Nonetheless, the Miami-Fort Lauderdale-West Palm Seaside sector is just not much guiding at $2,988 for every thirty day period.