Apartment rents still rising in Southwest Florida

Rent hikes slowed last month throughout much of Southwest Florida, but prices in some cities remain less affordable than other parts of the country.

Rents in the city of Sarasota were up 1.9 percent over the year in November, which was lower than the 3.5 percent average rise in Florida and the 2.7 percent increase across the nation, according to a report Friday from online rental marketplace Apartment List.

That was the 10th straight month that Sarasota posted year-over-year rent gains, following a decline in January, Apartment List said.

The median rent for a two-bedroom apartment in Sarasota was $1,380 a month, $220 higher than the U.S. figure.

Rent hikes in Bradenton, Englewood and North Port also were less than the U.S. average, but Longboat Key and Venice topped it.

Median rents actually declined by 0.3 percent in Englewood from October to November. Bradenton and Venice posted modest 0.1 percent increases over the month, while Sarasota was higher at 0.3 percent.

Monthly rents in the region ranged from $550 for a one-bedroom unit in Englewood to $1,850 for a two-bedroom rental in Longboat Key.

Annual rent hikes varied, from a low of 0.3 percent in Englewood to a high of 4.3 percent in Venice.

"Throughout the past year, rent increases have been occurring not just in the city of Sarasota, but across the entire state," Apartment List said. "Of the largest 10 cities that we have data for in Florida, nine of them have seen prices rise."

Pembroke Pines was the most expensive of Florida's major cities, with a median two-bedroom rent of $2,370. Miami was the only major city where rents declined, by 0.4 percent year over year.

Among the highest rent hikes recorded were in Orlando, at 6.6 percent, and St. Petersburg, at 5.9 percent.

Friday

John Hielscher Staff Writer @johndhielscher

Rent hikes slowed last month throughout much of Southwest Florida, but prices in some cities remain less affordable than other parts of the country.

Rents in the city of Sarasota were up 1.9 percent over the year in November, which was lower than the 3.5 percent average rise in Florida and the 2.7 percent increase across the nation, according to a report Friday from online rental marketplace Apartment List.

That was the 10th straight month that Sarasota posted year-over-year rent gains, following a decline in January, Apartment List said.

The median rent for a two-bedroom apartment in Sarasota was $1,380 a month, $220 higher than the U.S. figure.

Rent hikes in Bradenton, Englewood and North Port also were less than the U.S. average, but Longboat Key and Venice topped it.

Median rents actually declined by 0.3 percent in Englewood from October to November. Bradenton and Venice posted modest 0.1 percent increases over the month, while Sarasota was higher at 0.3 percent.

Monthly rents in the region ranged from $550 for a one-bedroom unit in Englewood to $1,850 for a two-bedroom rental in Longboat Key.

Annual rent hikes varied, from a low of 0.3 percent in Englewood to a high of 4.3 percent in Venice.

"Throughout the past year, rent increases have been occurring not just in the city of Sarasota, but across the entire state," Apartment List said. "Of the largest 10 cities that we have data for in Florida, nine of them have seen prices rise."

Pembroke Pines was the most expensive of Florida's major cities, with a median two-bedroom rent of $2,370. Miami was the only major city where rents declined, by 0.4 percent year over year.

Among the highest rent hikes recorded were in Orlando, at 6.6 percent, and St. Petersburg, at 5.9 percent.

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