SW Florida rents rise faster than rest of U.S. in April

By June Fletcher.

Price is up 3.9 percent in Collier County.

Apartment rents grew in Southwest Florida faster than the national average in April, a new report by ApartmentList. com said.

The San Franciscobased apartment listing firm calculated the numbers using listings on its website, using same-unit comparisons.

The report isn’t seasonally adjusted, but Andrew Woo, data scientist for the company, noted that balmy Southwest Florida is out of lockstep with most places in the nation in temperate climates, where rents tend to slow down in the winter and pick up in the spring and summer.

The other factor driving up rents is heavy migration to Southwest Florida from other states and other parts of Florida.

“T hat population growth is continuing to drive rent increases in those cities,” he said.

In the Naples metro area, which includes all of Collier County, rents rose 3.9 percent over the year in April, with a one-bedroom apartment commanding $2,080 and a two-bedroom $3,400, the report said.

In the Cape Coral-Fort Myers area, or Lee County, they were up 3.8 percent, with a onebedroom going for $920 and a two-bedroom unit for $1,950.

Nationwide, rents increased 2.8 percent over the year but were flat month-over-month. Rent growth softened most in the most in expensive cities on the coasts, according to the report, which was released Sunday.

Nationwide, the median price for a one-bedroom apartment clocked in at $1,140, while a twobedroom was $1,300.

Hillsboro, Oregon, near Portland, had the fastest growing year-over-year rents at 25.6 percent; San Francisco had the highest one-bedroom apartment rent at $3,510, while Malibu, California, had the highest rent for a twobedroom apartment at $6,000, ApartmentList. com said.

In Florida, rents rose 3.7 percent over the year. Statewide, a median onebedroom apartment rented for $1,100, while a two-bedroom unit rented for $1,400.

Rents rose fastest in Alafaya, which is near Orlando, at 16.1 percent over the year.

Median rents were highest in Sunny Isles Beach, in northeast Miami-Dade County, at $2,750 for a onebedroom place and $4,900 for a two-bedroom apartment.

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