Here’s What Gen X Should Expect To Pay for Rent in 6 Florida Cities
Written by
Jordan Rosenfeld
Edited by
Zuri Anderson
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Gen X may be all but forgotten in the cultural conversation, but they’re doing what they always do: trudging through life, head down, with all the economic challenges unique to their age and stage of life, from student loan debt, to caring for aging parents, to finding affordable places to live.
While the American dream suggests that everyone should get the opportunity to own a home, many Gen Xers are still renting because the costs of homeownership may still be out of reach.
However, renting isn’t the worst outcome. It can save money on things like property taxes, maintenance and other costs of home ownership and allow Gen Xers flexibility as they decide where they want to retire.
To find the cities in the U.S. with the most affordable apartment rent, GOBankingRates analyzed the average rental cost of major U.S. cities and the cost of living in those cities. Details such as cost of living, median income and one- and two-bedroom apartment rents were calculated. One of the states with a number of affordable cities to rent in is Florida.
For Gen Xers who are willing to relocate to find affordable housing, these six Florida cities may be the perfect spot.
Jacksonville
In Jacksonville, a city of nearly one million people and known for its more than 80,000 acres of parks, and, of course, pristine coastal access, Gen X will find a one-bedroom apartment rents for around $1,127 and a two-bedroom for $1,326 on average.
Miami
Miami has more to offer than a party scene. Many people live and work here quite comfortably. It’s no surprise it’s got a high livability score of 81 and affordable rents. A one-bedroom rents for $1,575 while a two-bedroom runs about $2,086.
Tampa
The vibrant city of Tampa has much to offer Gen Xers, from rich cultural diversity to gorgeous river access. Here, a one-bedroom rents for $1,341 while a two-bedroom runs is not much more, at $1,674.
Orlando
Tourists aren’t the only ones that Orlando attracts. Gen Xers can make a comfortable life here, with an overall monthly cost of living at $3,653. Here, a one-bedroom rents for $1,325 on average while a two-bedroom runs not much more, at $1,647.
Saint Petersburg
Find out why St. Petersburg — also dubbed “St. Pete” by locals — is called “The Sunshine City,” and do it at an affordable price. Not only is rent affordable here — $1,241 for a one-bedroom apartment and $1,563 for a two-bedroom — but the town has a high livability score of 86.
Hialeah
Gen Xers can find peace in the garden-lush city of Hialeah, a smaller suburb of Miami Beach that still puts you in proximity to bigger cities and beautiful coastline. Here, a one-bedroom apartment averages $1,307 and a two-bedroom is $1,822.
Methodology: The data for this article was drawn from this GOBankingRates study, which analyzed the average rental cost of major U.S. cities and the cost of living in those cities. First, GOBankingRates found the 100 most populated cities according to the U.S. Census American Community Survey. For each city, a number of factors were found, including: total population, total households, population ages 65 and over, household median income — all sourced from the U.S. Census American Community Survey, the cost of living indexes as sourced from Sperling’s BestPlaces, the average overall rental cost, one-bedroom rental cost, and two-bedroom rental cost — all sourced from ApartmentList, the average cost of a condo or coop as sourced from Zillow Home Value Index, and the livability index as sourced from AreaVibes. Using the cost of living indexes and using the national average expenditure costs for all residents as sourced from Bureau of Labor Statistics Consumer Expenditure Survey. Using the average condo/coop value, assuming a 10% down payment, and using the national average 30-year fixed mortgage rate the average mortgage can be calculated. Using the overall rental cost and expenditure costs the total cost of living for each city can be calculated. The cities were sorted to show the highest population places first showcasing the average apartment costs in major U.S. Cities. All data was collected on and is up to date as of Sept. 13, 2024.
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