{"id":10688,"date":"2022-04-05T10:11:45","date_gmt":"2022-04-05T14:11:45","guid":{"rendered":"https:\/\/blog.greatflorida.com\/?p=10688"},"modified":"2026-04-16T17:02:53","modified_gmt":"2026-04-16T21:02:53","slug":"floridas-rising-rent","status":"publish","type":"post","link":"https:\/\/www.greatflorida.com\/blog\/2022\/floridas-rising-rent\/","title":{"rendered":"Florida\u2019s Rising Rent"},"content":{"rendered":"

Florida added 211, 196 new residents from July 1, 2020 to July 1, 2021 to a population of 21,781,128, according to U.S. Census Data<\/a>. Florida ranks number 2 in the country for most residents gained during that period of time.<\/p>\n

\u201cFlorida has become a desirable relocation destination,\u201d says Dustyn Shroff<\/a>, Vice President of GreatFlorida Insurance<\/a>, Florida\u2019s top independent renter\u2019s insurance<\/a> agency.<\/p>\n

Housing experts believe the population surge occurred due to Florida\u2019s lower taxes and warmer climate as well as the loose pandemic restrictions and a shift to remote work. The problem is, housing has not grown at the same rate, leaving a deficit in home availability. The shortage is causing rent prices to skyrocket to ridiculous levels.<\/p>\n

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https:\/\/www.redfin.com\/news\/redfin-rental-report-rents-up-30pct-in-some-cities\/<\/figcaption><\/figure>\n<\/div>\n

Across the country, rent has gone up an average of 19.8%. However, rent prices across Florida rose to about 30% in the past year. In some areas it has increased even more. New data released from Realtor.com<\/a> showed rent in South Florida rose about 50% compared to last year.<\/p>\n

Population growth is not the only factor driving up rents. Many factors are responsible for astronomical rent prices including, a nationwide housing shortage and extremely low rental vacancies. Rising property taxes as well as rising insurance premiums are also forcing would be homebuyers to rent.<\/p>\n

On top of that, the increasing presence of investors is also contributing to the rise of rent. Potential homebuyers are competing with real estate investors making attractive all-cash offers. According to online real estate company Redfin<\/a>, a record 18.2% of home purchases in the third quarter of 2021 were made by businesses or institutions.<\/p>\n

\u201cFor many, it is just too expensive to buy a home, renting is the only option,\u201d says Dustyn Shroff<\/a>, Vice President of GreatFlorida Insurance<\/a>, Florida\u2019s largest independent renter\u2019s insurance<\/a> agency.<\/p>\n

Make sure you have dependable renters insurance<\/a> to protect your belongings. GreatFlorida Insurance<\/a> can help, contact us today.<\/p>\n

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https:\/\/www.greatflorida.com\/florida-renters-insurance<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Florida added 211, 196 new residents from July 1, 2020 to July 1, 2021 to a population of 21,781,128, according to U.S. Census Data. Florida ranks number 2 in the country for most residents gained during that period of time. \u201cFlorida has become a desirable relocation destination,\u201d says Dustyn Shroff, Vice President of GreatFlorida Insurance, […]<\/p>\n","protected":false},"author":1219,"featured_media":1436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[8,3,1,5,82],"tags":[],"class_list":{"0":"post-10688","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-renters-insurance","8":"category-auto-insurance","9":"category-floridainsurance","10":"category-homeowners-insurance","11":"category-rv-insurance"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/posts\/10688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/users\/1219"}],"replies":[{"embeddable":true,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/comments?post=10688"}],"version-history":[{"count":6,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/posts\/10688\/revisions"}],"predecessor-version":[{"id":13607,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/posts\/10688\/revisions\/13607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/media\/1436"}],"wp:attachment":[{"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/media?parent=10688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/categories?post=10688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.greatflorida.com\/blog\/wp-json\/wp\/v2\/tags?post=10688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}