JACKSONVILLE, Fla. – The new 2016 Rent Report released on Wednesday shows that the cost of rent is up in Jacksonville.
However, even though prices are higher, the number is still below the average price compared to the rest of the state and country.
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In Jacksonville, rent increased by almost 2% from May 2015 to May 2016. In Florida, rent increased by 3%. That’s a little more than the nationwide increase of 2.7%.
Jacksonville is number 9 when it comes to the most expensive cities in the Sunshine State. Miami is at the top of that list- with Fort Lauderdale, Pembroke Pines, St. Petersburg and Port Saint Lucie following behind.
In the River City, median rent prices are at $1,000 for a 2-bedroom apartment. In Miami, you would pay about $1,600 more than that.
When it comes to rent growth in Florida, Port Saint Lucie, Orlando and Tampa's numbers saw the biggest jump in prices in a 1-year time-span.
The price of rent in Miami and Tallahassee actually went down less than 1%.