The median Orlando apartment has seen its rent go up by a percent since last month and 7.6 percent since a year ago according to a new report from Apartment List.
The report said March was the fifth month in a row rents have gone up since a modest dip in October. Over the past year, Orlando is also far outpacing the state’s average increase of 2.9 percent and the national average of 2 percent year-over-year.
The median two-bedroom apartment in Orlando costs $1,250, while one-bedrooms go for $1,050, according to the report. That’s about $80 over the national average.
Most of the cities around Orlando have seen similar jumps.
“Throughout the past year, rent increases have been occurring not just in the city of Orlando, but across the entire metro. Of the largest 10 cities that we have data for in the Orlando metro, 9 of them have seen prices rise,” the report said.
Winter Springs was the city to get a drop. Prices there fell 0.4 percent from last month and are the same as in Orlando proper.
Oviedo rents are down a tad from February but up 3.5 percent compared to last year. The Seminole County city has the highest rents in the Orlando metro area, with the median two-bedroom running about $1,510 a month.
Sanford, which the report lists as the least expensive in the metro, saw a 0.9 percent increase month-to-month, and a 6.6 percent increase year-over-year. The median two-bedroom in city limits goes for $1,130 a month.
“As rents have increased sharply in Orlando, a few large cities nationwide have seen rents grow more modestly. Orlando is still more affordable than most large cities across the country,” the report said.
San Francisco rents went up more than 6 percent over the last month and a two-bed runs $3,060. New York’s rate comes in at $2,460 and Los Angeles registers at $1,740.
Closer to home, Miami’s median two-bedroom costs $1,350 a month, Tampa’s costs $1,230 and Jacksonville’s costs $1,060.