Rent Prices in Orlando Continue to Rise
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This an article was published in the Associated Press bearing the news that rent prices in Orlando and near by cities in the state of Florida continue to increase. That means that if you're interested in acquiring a property in Central Florida you should take action right away before rent prices continue to rise again as we continue to experience.
Read the article on this page, publish this week by the Associates Press and © 2018 Florida Realtors® and consider stopping renting and paying someone else's mortgage. Contact me at 407-361-7454 for a FREE and no-obligation consultation.
Most average Fla. rents rise 3%-8% year-to-year
ORLANDO, Fla. – July 10, 2018 – A RentCafe study that looked at average rents in many Fla. cities found that Hollywood (up 9.6 percent) and Orlando (up 8.4 percent) had the greatest year-to-year increases. Out of 19 Fla. cities included in the study, only Davie saw a year-to-year decrease (down 0.3 percent).
However, the study suggests that Davie's average rents may be turning around. The month-to-month stat finds that they increased 0.3 percent in June. On the flipside, Coral Springs, which saw a 1.9 percent yearly increase in average rents, was the only Fla. city in the study to see rental prices decrease month-to-month in June (down 0.3 percent.)
The overall average rents for the study included studio, one-bedroom and two-bedroom apartments, which did not necessarily move the same amount. In Hollywood, for example, a one-bedroom apartment rose an average 7.1 percent year-to-year, while the average two-bedroom rose 10.9 percent.
Nationally, rents in the 250 largest U.S. cities rose 2.9 percent and reached an all-time high of $1,405. In Florida, average rents ranged from $1,018 in Lakeland to a high of $1,861 in Fort Lauderdale.