Rents scale upwards in Sarasota

The median price for a two-bedroom apartment in Sarasota was $1,380 in October, or $220 more than the U.S. average, according to a recent study from online rental marketplace Apartment List. Rents in Sarasota are up just 1.7 percent over the year, lower than the 3.5 percent average in Florida and the 2.7 percent gain nationwide. Prices actually fell 0.2 percent over the past month here.

Other cities saw substantial increases including Seattle at 4.2 percent, Phoenix at 4.1 percent and Dallas at 2.6 percent.

Monthly rents in the region ranged from $550 for a one-bedroom unit in Englewood to $1,840 for a two-bedroom rental in Longboat Key.

Annual rent hikes varied, from a low of 0.9 percent in Bradenton and Englewood to a high of 4.1 percent in Venice.

It was the ninth straight month that Sarasota posted year-over-year rent gains, following a decline in January, Apartment List said.

Miami was the only big city to see rents decline over the year, down 0.2 percent.

Some of the highest rent hikes were posted in Orlando, at 6.4 percent, and St. Petersburg, at 5.8 percent.

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