Seven Florida Cities, Including #1, In Top 20 For Rent Increases

Some of the greatest increases in rent values are right here in the Sunshine State.

Maia Sutton with insurance comparison site Insurify.com sums it up this way.

"Florida's definitely an attractive place to be living right now but only if you can afford it."

Seven of the 20 cities nationwide with the biggest spikes year-over-year are in Florida, including Number 1, Palm Beach Gardens, where the median cost of rent went up more than 10.5 percent from February 2020 to February of this year.

Three other Palm Beach County cities made the rankings: Wellington (3), Boca Raton (9) and Delray Beach (20).

Other Florida cities on this list include Palm Harbor (6), Coral Gables (15) and Miami Beach (19).

Sutton says this trend goes against what's happening in most of the U.S.

"Due to the pandemic, cities like Boston where I'm located right now are experienced some of the greatest rent decreases just due to lack of demand and all that stuff but Florida has no problem with that."

The national average for rent increases over the past year was 0.42%.

Sutton says Florida's lower taxes and beautiful weather make the state attractive to those looking for a change in scenery.

Click Here to see the full rankings.

Photo: Getty Images


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