The Sun-Sentinel newspaper ran an interesting article on August 31, 2014 regarding South Florida renters. According to the piece, South Florida renters pay about 44% of their incomes towards rent. Zillow reported the national average was 30% of income going towards rent.
The ratio of rent to income for South Florida was third in the nation, on par with San Francisco and below Los Angeles (48%). According to the Sun-Sentinel article, which was quoting from a Zillow study, South Florida renters paid about 34% of income towards rent ten years ago and the national average was around 26% at the same time.
According to the Sun-Sentinel, the median monthly rent for Palm Beach County was $1,364 in 2014, up from $1,173 in 2011. Of note, the U.S. Department of Housing and Urban Development reported Palm Beach County's median household income was $63,300 in 2014, which is the same as in 2011. This means people in Palm Beach County have less discretionary income when compared with a few years ago.
Call me today for more information.
I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
The greatest compliment you can give is the referral of your friends and loved ones
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment