From the Sarasota Herald Tribune:
This could be the year great rental deals on apartments, condominiums and single-family homes disappear as rents move upward. Statewide, a mixture of an improving employment picture, a lack of new apartments being built and falling vacancy rates has commercial real estate broker Marcus & Millichap forecasting hikes in rental rates in Florida’s major markets this year.
After a large decline in rents that began in 2007, rates started recovering this year and will likely go up 3 percent to 5 percent in 2012.
The article goes on to summarize forecasts for rental rate increases in various markets for the year 2012, including:
- Orlando- 3.6% increase
- Miami- 4.3% increase
- West Palm Beach – 3.8 % increase
To read the full article, check out the Herald Tribune’s post.
So what do you think? Do YOU expect rental rates to go up this year? Please leave a comment or share this post!