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South Florida Rent Increases Among The Highest In the Nation

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According to a report published by AXIOMetrics, rent increases in Broward, Palm Beach, and Miami-Dade counties rank among the highest 25 in the nation.

For example, in Miami-Dade County the average rent rose 6.29 percent, to $1,485 a month.

Jay Denton is the vice president for research at AXIOMetrics. He says the high prices in Florida could be due to a demand which exceeds the supply.

In the report, AXIOMetrics reports occupancy rates of over 95 percent for all three South Florida counties.