Fort Lauderdale Rents Rose 5 Percent in a Month
Those rooms ain't cheap.
Vince Alongi via Flickr Creative Commons
According to guys from Abodo.com, a startup website that helps people list and
- November: $1,201
- December: $1,214
- January: $1,218
- February: $1,279
Fort Lauderdale's rent bump was the seventh-biggest in metro areas measured.
Michael Taus, vice president of growth at
Said Taus: "The U.S. rental market saw historically low levels during the mortgage finance boom and has been steadily shifting to historical norms since the mortgage bust. This boom-bust cycle also impacted new apartment starts. With homeownership rates falling, it makes sense for landlords to continue to raise pricing
And, sadly for young'uns, “Fort Lauderdale, specifically, is following a trend that analysts and industry experts have seen in many U.S. cities. Young adults either can’t afford to buy a home or they don’t want to be bothered with the hassle of owning one. This has led to more demand for rentals and an increase in price.” The average college student who graduates with debt will have to pay back $35,000 in loans, according to the Wall Street Journal.
He noted, "We see fluctuations [in rent prices] based on seasonality, whether
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