Retirees Should Avoid Renting in These 5 Florida Cities With the Most Competition
Written by
Chris Adam
Edited by
Amen Oyiboke
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The summer moving season may be proving especially difficult this year for retirees looking to rent in some parts of Florida. According to RentCafe, Miami remains the hottest rental spot in the United States, fueled in part by overall momentum in Florida.
Overall, the national rental competitive index score of 74.6 shows a very competitive rental market. For retirees, here are five Florida cities with the most competition.
Miami
“Miami’s obviously the hottest market right now — I’m talking nearly impossible to find rentals there,” said Jasmine Charbonier, a travel expert from Your Tampa Bestie. “The rental competitive index score of 96.7 is insane. I help realtors with content, and they tell me units are filling in just 30-ish days with 20-ish renters competing for each spot.”
Fort Lauderdale
According to Charbonier, Broward County’s been wild, too. “Places like Fort Lauderdale and Pembroke Pines have gotten super competitive. I’ve got friends who’ve been trying to find places there for months with no luck.”
Tampa
“And let me tell you about Tampa, where I’m based. Our rental competitive index score is 78.5, which puts us at number 15 nationally,” Charbonier said. “Even with more construction happening, nearly 70% of renters are renewing their leases. That’s a 4.3% jump from last year — the highest I’ve seen in my time here.”
Port St. Lucie
Charbonier said Port St. Lucie has become a “total background.” She said its rental competitive index score shot up 9.1 points to 90.8.
“I was shocked by the numbers,” Charbonier said. “Construction’s completely stopped there, which means 77.5% of people are just staying put.”
Orlando
The popular tourist town may be one for retirees to avoid if they’re looking to rent. Per Charbonier, units are getting snapped up quickly and even the new construction isn’t enough to keep up with demand.
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