Is your rent too damn high? Well, you are not alone according to new data from Dwellsy. Dwellsy specializes in renters and rentals. In a report issued September 15th, 2022 on Single Family Home Rentals (SFR), the Naples-Marco Island Florida rental market is near the top.
The report was based on data from 12 million rentals across the country. In this study, they took the median rental price for a single family home. So if you’re looking to rent a house in one of these markets, this is what you’re looking at:
Coming in first in the U.S. was San Jose-Sunnyvale-Santa Clara, CA with a median rental price for a single family home coming in at $3,695.00. Actually, the top 4 before you get to Naples, were all in California. Salinas, CA was second at $3,620.00. In third was Santa Barbara-Santa Maria-Goleta, CA at an even $3,600.00 a month for a rental. The San Francisco-Oakland-Fremont, CA market came in at $3,550.00. And here in Southwest Florida, Naples-Marco Island, FL with a median monthly rental price of $3,495.00 for a single family home. North Port-Bradenton-Sarasota, FL also made the list at 43rd with a rental price of $2,320.00 a month.
One major effect on the Naples Rental market median price
The median just means the middle. Because the top end stuff is so expensive, and the bottom stuff, well, isn’t too cheap either, the median tends to be higher. But that doesn’t mean it’s wrong. A modest 3 bedroom home with a pool, single story, under 2,000 square feet – is gonna rent at about $3,500 a month here. Double what you would have been paying on a mortgage if you bought that house 5 or so years ago. Hindsight, right?
So if the median is the middle, what homes are out there to rent in Naples?