Are rents in Fort Myers too high? You bet, according to a new study by the FAU College Of Business. Tampa came in 3rd in the list of overpriced rental markets in the U.S. just behind Fort Myers. Since we live here, it’s probably not surprising all of of the markets in the top 5 are all in Florida. Zooming out, the Sunshine State had 10 of the markets in the top 25. You hear it in the news all the time. Despite what the New York media would lead you to believe, people want to move to Florida.
The survey results determined rankings by figuring in the cost of rent versus what it SHOULD be. Researchers from the study conducted at the FAU College Of Business say the premiums we pay in Florida probably won’t change much until more units are built. And with a shortage of building supplies and a large amount of people who want to move here, there’s no telling when that will happen in the Fort Myers Rental market.
Three columns under each city: The average rental price, what FAU has computed the price of rent should be, followed by the percentage of what they consider overpriced.