Florida is known for many things — like Disney World and crazy crimes conducted by the internationally known “Florida Man” — but now it’s earned a new title: Most expensive place to rent in the U.S.
How did that happen when the Sunshine State is where people run to retire because of its low taxes?
Rent.com reports that the tide is turning because rental properties are skyrocketing in price. Over the past year, rent for a one-bedroom apartment in Tampa rose by 34 percent, while Orlando prices surged by 38.2 percent. Respectively, a one-bedroom in each city now costs $1,890 and $2,061 monthly.
Miami is no bargain, either, with prices jumping 21.6 percent, so rentals are now $2,744 on average per month for a one bedroom.
Explains local news outlet WFLA, Miami’s rent prices jumped by 55.3 percent over the past year and Orlando’s jumped 35.4 percent — and are now the first- and second-most expensive places to live in the U.S.
Studies from other housing watchdogs, such as Realtor.com and Redfin, have produced similar findings when it comes to rentals.