{"id":69995,"date":"2021-07-20T10:04:51","date_gmt":"2021-07-20T14:04:51","guid":{"rendered":"https:\/\/blog.myewm.com\/?p=69995"},"modified":"2021-07-20T10:04:51","modified_gmt":"2021-07-20T14:04:51","slug":"june-rental-prices-broke-records-in-44-cities","status":"publish","type":"post","link":"https:\/\/blog.myewm.com\/?p=69995","title":{"rendered":"June Rental Prices Broke Records in 44 Cities"},"content":{"rendered":"
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Realtor.com rental listing costs were up 8.1% year-to-year in June, and two Fla. metros ranked in the top 10 for increases: Tampa-St. Pete, up 21.2% and Jacksonville, up 14.4%. Overall, two-bedroom units saw the largest increase, 10.2%, as demand for a larger living space continues.<\/p>\n<\/div>\n

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CHICAGO \u2013 The home listing shortage has forced more buyers to rent; and that has boosted rental demand and, as a result, rental prices. Nationwide, the U.S. median rental price in June jumped 8.1% year-to-year, reaching $1,575, according to prices from realtor.com\u2019s website.<\/p>\n

The specific asking price for two-bedroom units rose even more as demand spiked. Those saw a 10.2% increase in rental prices year-to-year as consumers\u2019 demand for more space remained high.<\/p>\n

Two Florida markets made the top 10 list for rent increases: Tampa ranked third with year-to-year rent increases of 21.1%, and Jacksonville was No. 10 with increases of 14.4%.<\/p>\n

Florida metro area rent increases for June, according to realtor.com<\/h3>\n
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  • Jacksonville<\/strong>: $1,310 average rent, up 4% month-to-month and 14.4% year-to-year<\/li>\n
  • Miami-Fort Lauderdale-West Palm Beach<\/strong>: $2,153, up 7.7% month-to-month and 13.3% year-to-year<\/li>\n
  • Orlando-Kissimmee<\/strong>: $1,500, up 3.9% month-to-month and 13.1% year-to-year<\/li>\n
  • Tampa-St. Petersburg-Clearwater<\/strong>: $1,605, up 5.6% month-to-month and 21.1% year-to-year<\/li>\n<\/ul>\n

    Rental prices in 44 of the largest 55 metros broke records last month. The largest gains were recorded in Riverside, Calif.; Tampa; and Phoenix, which all posted increases above 20% year-over-year, realtor.com reports.<\/p>\n

    \u201cThe surge we\u2019re seeing in rental prices is likely to exacerbate the K-shaped, or uneven, nature of the pandemic recovery in the U.S.,\u201d says Danielle Hale, realtor.com\u2019s chief economist. \u201cRents are rising at a faster pace than income, which is adding to the challenges faced by lower-income Americans as they struggle to recover from job losses and other hardships brought about by COVID.\u201d<\/p>\n

    According to Hale, rental prices aren\u2019t likely to ease unless there is a shift \u2013 either a higher number of rentals or greater number of homes listed for sale.<\/p>\n

    Source: realtor.com<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Realtor.com rental listing costs were up 8.1% year-to-year in June, and two Fla. metros ranked in the top 10 for increases: Tampa-St. Pete, up 21.2% and Jacksonville, up 14.4%. Overall, two-bedroom units saw the largest increase, 10.2%, as demand for a larger living space continues. CHICAGO \u2013 The home listing shortage has forced more buyers […]<\/p>\n","protected":false},"author":1401,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"saved","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[9],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/69995"}],"collection":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/users\/1401"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69995"}],"version-history":[{"count":1,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/69995\/revisions"}],"predecessor-version":[{"id":69996,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/69995\/revisions\/69996"}],"wp:attachment":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}