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Rental Rates Increase In South Florida

September 25th, 2012 Written By Carol Pawley


According to a new report by brokerage and consultancy Condo Vultures, the mean rental rate in South Florida’s coastal markets rose 11% in the second quarter compared to the same period in 2011.

The report states the mean rental rate stood at $1.60 per sq.ft. up from $1.44 in the 2nd quarter of 2011 and $1.35-per sq.ft. mean rate in the same markets in 2009. In the same time frame leasing activity has also increased by 2%. The reason why the rental rate is increasing is due to the lack of rental inventory.

Click here for rentals currently available in the Miami Area.

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