Florida Is Second Most Expensive State For Renters

Earlier this month we learned that Cape Coral is the most overpriced rental market in the United States. However, it's not just the Cape that ranks high in this housing category. It's the entire state. Florida is second most expensive state for renters according to new statistics. The latest data comes from the folks at MovingFeedBack. To come up with the rankings, they crunched numbers and analyzed dated from places such as Zillow, looking mainly at metropolitan areas.

What they found is disconcerting for sure if you are looking to rent a place in the Sunshine State. Florida has seen a whopping 46.7% increase in rent prices in the last three years. The problem is the annual salary for Floridians did not rise at the same rate. Salaries only went up a mere 7.6%. This is how it breaks down for Floridian's on a budget. In 2020 renters were paying an average of $1,448.43 between January and March. This year that average was $2,126.06. And you know that time of year in Southwest Florida (season) it was even more.

Colorado outranks Florida as the most expensive state for renters. In the last three years, rent there has increased 54%. This is how the top five most expensive states for renters line up starting at number one.

According to this report, the state that has seen the smallest increase in rent is West Virginia. Prices there have only gone up by about 12%. A spokesperson for MovingFeedback says, "The Enterprise group has found that nearly 11 million households spend more than 50% of their income on rent.”  And there doesn't appear to be an end in sight. A rise in interest rates is one of the many factors making it more and more challenging for people wanting to buy a home rather than rent. 

I have lived in 4 cities in Florida and loved each of them differently. Tallahassee, Cape Coral, Fort Myers and now St. Petersburg. Which one did I like the best? I am loving St. Pete the most so far because there is a lot to do. None of the cities I lived in was named best place to live in the United States, but I did live near the one that is. And I did go to this Southwest Florida city  a lot.

Scholaroo compared 150 cities in the US in 9 different areas. Affordability, Crime levels, Leisure/Entertainment, Quality of life, Healthcare, Education, Employment, and Infrastructure. Can you guess which city in Florida was ranked number one for 2023? This particular Southwest Florida city was ranked last for affordability but #1 in Leisure & Entertainment and Healthcare. They held a major golf tournament shortly after Hurricane Ian. It's also the home of the Pickleball Championships, and probably the best burger I've ever had in my life.

So even though housing and rent prices are screaming along to all time new highs, it still made number one. Still can’t guess? Below are the top 10 cities to live in the United States.

Cambridge Ranked Number One In Education and Employment. Even though they are number 10 on the list, these are great reasons to move here.

Leawood Kansas has a high ranking when it comes to the Economy. According to this list they are #3 .

Nebraska is in the top 10 for best healthcare. According to the research they are ranked #8.

Madison is ranked top 10 in Crime and Safety and economy. In both of those categories they come in at #6.

My mom lives here and she loves it. Alpharetta is ranked #3 in the Economy.

I’ve been to Portland and it’s a very nice city. They have a high ranking in Leisure and entertainment. They come in at #4 in this category.

Amherst is a very safe place to live. They Rank #1 in Crime and safety.

Naperville ranked top 10 in leisure and entertainment and economy.

Carmel ranked #2 in Employment and #8 in Crime and safety.

Coming in at #1 on the list is Naples Florida. I didn’t live in Naples but lived very close. They rank #1 in health care and leisure and entertainment.