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Rent prices for single-family homes on the Gulf Coast are rising.
And in some cases, rents for homes in the region are increasing even faster than super-hot markets nationally, such as San Francisco and Charleston, S.C., according to rental market data provider RentRange. The firm recently compiled a list of the 25 cities with the largest year-over-year rent increases in the third quarter.
The Cape Coral-Fort Myers region tops the list, with a year-over-year increase of 23.6%. North Port-Bradenton-Sarasota comes in at No. 3, with a 17.6% rise in rent. The third Gulf Coast region on the list is Tampa-St. Petersburg-Clearwater, with a 10.3% hike and the No. 20 spot on the list.
Tampa's average yield is the strongest of the three, ranking seventh at 11.5%. (For a deeper look at rising rent rates on the Gulf Coast, and its potential impact on landlords and others, see page 16.)
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