DOJ alleges RealPage software helped landlords collude on rent
The U.S. Justice Department alleges RealPage used technology to help landlords share lease information and keep rents high for millions of renters.
- A new Zillow report shows few apartment listings are priced below $1,000 a month in major U.S. metro areas.
- In major Florida cities like Miami and Orlando, less than 3% of apartment listings are under $1,000 per month.
- Renting a single room can be a cheaper alternative, with median prices ranging from $732 in Jacksonville to $1,250 in Miami.
Is rent still too damn high? Renters are increasingly scrambling to find the cash to keep a roof over their heads.
As of October, only 13 out of the top 100 largest U.S. metro areas have more than a third of their apartment listings priced below $1,000 a month, according to a new report from real estate marketplace site Zillow. Most of those are in the Midwest and the South.
We’re in the South. How does Florida rank?
Hint: None of those 13 metro areas are here.
Florida metro area rents
According to Zillow’s findings, the percentage of multifamily rentals under $1,000 in these Florida metro areas are:
- Jacksonville: 8.4%
- Deltona: 5.9%
- Lakeland: 5.9%
- Palm Bay: 3.8%
- Tampa: 2.3%
- Orlando: 2%
- Cape Coral: 1.7%
- Hialeah: 1.5%
- North Port: 1.5%
- Miami: 1.3%
Note that these are what Zillow lists as larger metro areas. Rent may be cheaper in smaller or more rural areas.
Best time to buy a home in Florida? Lower prices, more listings expected soon
How does Florida rank for apartment rentals?
Forget the $1,000. What about shares of affordable apartments where rent costs less than 30% of the median household income? We’re a little better there, with 88.1% of the apartment rentals in Jacksonville fitting the bill.
It still doesn’t come in till No. 34 out of the 100 metro areas listed, though, and Miami is at the very bottom with only 30.9% of that areas’s listings in the “affordable” range.
Share of affordable apartments, per Zillow:
- Jacksonville: 88.1%
- Palm Bay: 79.4%
- Orlando: 78.4%
- Deltona: 71.4%
- Lakeland: 68.8%
- Cape Coral: 62.8%
- North Port: 62.7%
- Tampa: 62.2%
- Miami: 30.6%
What is Florida charging for room rents?
Renting a room in an apartment or larger home can be a less-expensive way to go, with a median list rent for less than $1,000 a month in 86 of the largest metro areas Zillow looked at.
Here’s the median rent for a single room in these Florida markets, according to Zillow:
- Miami: $1,250
- North Port: $1,050
- Cape Coral: $1,000
- Tampa: $900
- Orlando: $900
- Palm Bay: $850
- Lakeland: $850
- Deltona: $850
- Jacksonville: $732
