In normal conditions, rents traditionally increase only 3 to 5 percent a year. If Floridians only had it that good. Signs of more moving vans on the road could make it happen.
A report this week from Florida Atlantic University—the Waller Weeks and Johnson Rental Index, which assesses the most overvalued US rental markets—showed that the top eight of 109 most overvalued markets are in Florida, where year-over-year rent jumps exceeded 21 percent.
It cost even more in the Fort Myers and Miami metropolitan areas where they are paying about 29 percent more in June than one year ago. That ranks them as the nation's two most overvalued rental markets.
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