FORT LAUDERDALE, Fla. — The South Florida region saw the highest rent increases in the country in the past year, with some rents more than doubling.
The median rent in the tri-county area jumped 57% from March 2021 to March 2022, according to the latest data from realtor.com. The region had the highest rent increases out of the 50 metro areas analysts studied, and makes South Florida’s median rent more expensive than even the New York metro area.
“South Florida has benefited from broader interest in relocation. While affordability is eroding as rents rise, Florida’s lack of income tax continues to make it an attractive target for households looking to relocate, particularly from higher-tax areas,” said Danielle Hale, chief economist at realtor.com.
