According to a recent report by the Gannett News-Press, Cape Coral and Fort Myers areas have seen the fastest increase in rent costs than anywhere else in the United States. Renters are faced with higher rents costs from hundreds to thousands which is causing more renters to turn to buying with record low mortgage rates, experts say is truly is more affordable to buy then rent.
The average rent for a single-family home in the Cape Coral-Fort Myers area spiked 23.6 percent in the past year, according to data released by RentRange, making it No. 1 in the country.
In a separate report cited in the News-Press, ALN Apartment News released statistics recently showing that for apartment complexes with 100 units or more, the median rent in this area increased 14.6 percent to $1,099 while occupancy increased 0.6 percent to 96.6 percent.
In Cape Coral-Fort Myers, the average single-family rent for the third quarter of 201 was $1,540.27, up from $1,246.50 a year earlier.
If you’re tired of your rent rising, contact We Talk SWFL and we will get you an affordable home!