Rental wars: the pain continues
by Matthew Sauer , Herald-Tribune
An analysis by Apartment List, which describes itself as a “fast-growing apartment marketplace,” found that rents on apartments rose 3.6 percent nationally year over year in May for a one-bedroom place and 2.7 percent for a two-bedroom unit.
Those figures represented a 0.5 percent month-over-month increase for both apartment configurations, the San Francisco-based company said.
Last month, the average price for a one-bedroom apartment ticked up to $980 while the average rose to $1,020 per month.
In Southwest Florida, Sarasota had the highest rents, according to the Apartment List data: $1,100 per month for a one-bedroom abode and an average of $1,420 for a two-bedroom unit. That was a month-to-month increase of 5 percent and 3 percent, respectively, and a year-over-year increase of 15 percent in both cases.
In Bradenton, a one-bedroom apartment was averaging $870, no increase month to month, but a year-over-year rise of 5 percent. Meanwhile, a two-bedroom apartment was averaging $1,200 per month, up 1 percent in the monthly and yearly measure.
South Bradenton had an average $850 rent for a single-bedroom it and $890 for a two-bedroom apartment. Month to month, that was up 2 percent and 4 percent, respectively, while year over year, it was up 15 percent and 14 percent, respectively.