Rents for multifamily and apartment housing throughout Florida are on the rise. Increasing much more rapidly than the national average.
ABC News reports the top Florida cities for the highest rent increase.
According to the latest report by RENTCafe, St. Petersburg leads the Tampa Bay Area with the highest rental spike, up 7.1% since last year.
St. Pete was top 20 in the country for that high of a percentage change; Orlando led the state of Florida with a 7.8% price increase.
Other parts of the Tampa Bay Area are also outpacing the national average of 2.7%
Tampa is up 5.2%, Lakeland is up 6.5% and Clearwater is up 4.3% since last year.
RENTCafe also lists Brandon, which is an unincorporated community of Hillsborough County, as having rental prices up 5.6% since last year.
All this information makes investing in apartment living very lucrative, with high return on investment. Rents are forecasted to remain at a healthy level in the upcoming years, making multifamily housing a consistent and powerful investment opportunity.
Whether it is new construction of multifamily housing or renovating an existing property, partnering with the right construction group can make all the difference.
Today’s renter are continuously evolving, you need a construction group with a heighten awareness of what they will be looking for when they decide where to live.
Such as quality construction, beautiful details and up to date amenities. At SWET Construction Group we understand our clients needs and create innovative environments, designed with the wellness in mind.
The team at SWET Construction Group make buildings work smarter and more livable, optimizing business performance.
With over 66 years of combined experience, we build trusting relationships with our clients as well as our network of suppliers. Give SWET Construction Group the opportunity to show how we can increase your profits.