Good news for renters in Miami and Fort Lauderdale.
The rent price of one-bedroom units in Miami fell 3.7% to $2,600 in November compared to the previous month, while two-bedroom units decreased 5.6% to $3,350, according to Zumper's latest National Rent Report.
Miami’s rental rates, however, remain high: the city ranked as the nation’s sixth-most expensive rental market.
Fort Lauderdale ranked 18th nationwide. The median rent of a one-bedroom was $1900 this month, a 1% decline; a two-bedroom was $2,700, which was down almost 3%.
Tampa, St. Petersburg, Orlando, Jacksonville and Tallahassee had much lower rent prices than South Florida. A one-bedroom in Tallahassee was $1,050; a two-bedroom was $1,270.
“Our national rent index showing flat to declining monthly rates is a clear sign of a shift into the slow moving season,” said Zumper CEO Anthemos Georgiades, in a statement. “We anticipate that national rents will continue to see modest declines through the rest of this year and likely into the beginning of next year as well.”
READ MORE: Bad news for South Florida home sellers. Region's pending home sales are nation's fastest falling
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