RENTING VS. OWNING

The average monthly rent in the Ft. Lauderdale, Fl metro area increased 5.9% in the 12 month period ended March 31, 2018 & is now $1,858; in the West Palm Beach market, the average rent of $1,370 represents a 4.8% increase in the same period, while in Miami-Dade county, the average rent is $1,618, an increase of 2.9% from the same period one year ago. Monthly rent amounts are expected to continue to increase due to the region's population growth and the dearth of affordable housing inventory. This pressure on housing & rental prices is repeating itself throughout the nation as noted in the following infographic (showing national median rental & mortgage costs):SOURCE: SUN-SENTINEL