Florida Is The 2nd Most Expensive US state For Renters
I almost feel like this is a good news post. Some other state’s out of control rent prices are more than what we deal with in Florida. Rent is expensive in Cape Coral, Fort Myers, and Naples. But only enough to make us the second most expensive US state for renters. Colorado is the state where major metropolitan areas are the most expensive for renters as of 2023.
Moving Companies Experts MovingFeedback analyzed data from Zillow.com to reveal the US states whose major metropolitan statistical areas (MSA) have seen the highest increase in average rent prices over the past three years. Looks like Colorado is even worse than Florida.
Colorado is the most expensive US state for renters.
Colorado has been named the most expensive US state for renters in its major metropolitan areas. The state has seen the biggest increase in rent prices over the past three years of 54%. In the first three months of 2020, the average rent price in MSAs in the state was $2,439.56. That’s compared to an average of $3,757.93 across January, February and March in 2023. This is a 4.5 times larger increase than the state with the smallest increase, West Virginia.
In Florida, we came in second with a 46.7% increase in rent prices in just three years. Renters in MSAs were paying on average $1,448.43 between January and March 2020 and are now paying $2,126.06; a $677.63 increase. In comparison, the state’s average annual salary rise from the previous year is only 7.6%. Wait, who got a raise?
Montana ranks as the state whose major MSAs had the third highest increase in average prices for renters. In the first three months of 2020, rent prices were $906.45. The state has seen a $396.17 increase in price, to an average of $1,302.62 between January and March 2023. I blame Yellowstone for this.
In fourth position is Idaho where renters have experienced an average 41% increase in prices. An increase of $474.46 can be seen in this state over the past three years. Is Idaho an in-demand area? Really?
Arizona has the fifth largest increase in rent, going from $1,313.44 in early 2020, to $1,821.46 in 2023; a 38.67% increase over the three-year period.
If you want to go cheap, MSAs in West Virginia have seen the smallest increase in prices for renters in 2023, seeing only a 12% increase in rent prices since 2020. Mountain Mama, take me home. Country roads.
Most expensive US state for renters – Methodology:
Each US state’s average rental price was compared from Jan-March 2020 to Jan-March 2023 to reveal which states have had the highest and lowest increases over the past three years.
Florida Cities Land On List Of Best For A Staycation
5. Salt Lake City, UT
Salt Lake City took the top spot for most coffee & tea shops per capita. Other things to do in the summer include the Tracy Aviary, the Red Butte Botanical Gardens and biking on the Jordan River Parkway.
(Photo by George Frey/Getty Images)
4. Tampa, FL
Tampa tied for first place for most zoos and aquariums per capita. The Florida Aquarium is something to definitely check out, along with the Lowry Park Zoo. Tampa also tied for first place for ice cream and frozen yogurt shops per capita. Perfect to cool down on a hot Florida day!
(Photo by Julio Aguilar/Getty Images)
3. Las Vegas, NV
Vegas in the summer is a blast! I actually booked a trip there myself for the 4th of July. The pool parties are top notch, but there’s also plenty of indoor activities if you need a break from the desert heat.
(Photo by Robert Mora/Getty Images)
2. Orlando, FL
Orlando would be a great staycation destination all year. Of course there’s always great weather, plus plenty of theme parks to have all the fun your heart desires. But if relaxing the day away is more your speed, there’s lot of resorts to lay by the pool or unwind at the spa.
(Photo by Jacqueline Nell/Disneyland Resort via Getty Images)
1. Honolulu, HI
I picture Honolulu being a place I would never want to leave. Lots of lazy days on a beach chair under the palms. But plenty of water activities and hiking if you prefer a more active trip.
(Photo by Ron Jenkins/Getty Images for The Hapalua – Hawaii’s Half Marathon)
