Ts Rent Jacksonville (2024)

FAQs

Will rent go down in 2024 in Florida? ›

Despite the overall cooling of the housing market, rent prices in Florida are not expected to decrease substantially in 2024. The demand for rental properties remains robust, fueled by continuous in-migration and the unaffordability of homeownership for many due to high mortgage rates.

Each year, the number of northerners moving to Florida increases which causes the demand for housing to increase. Supply and demand determine prices. High demand equals high prices.

Negotiate in Person

It's much harder to be aggressive in person. When negotiating your rent, do so in a formal meeting. It's likely that your landlord will not have prepared thoroughly for the discussion. If you come in polite, prepared and persuasive, you'll have a great advantage in negotiation.

Will rent go down in 2024, Florida? The short answer is yes. Statistics show that the rental rates in Florida have been decreasing throughout 2023. According to DSNews, single-family rental rates have been falling for 15 months consecutively throughout the country.

In Jacksonville, the median apartment asking rent of $1,494 is down 12.4% from a year ago, the second-biggest drop in the nation. Tampa posted a 6% drop of its own, the largest decline since at least 2019. Orlando (-4.8%) and Miami (-3.8%) have also seen rent prices fall over the past year.

The state of Florida currently lacks rent control regulations that place limits on rent hikes. This means that a landlord can raise the rent to any amount and does not have to give notice to their tenants.

Hawaii ranked as the state with the highest average rent, according to doxo. In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills.

Highland Beach

The town is known for its luxury homes and high cost of living. In fact, Highland Beach is often cited as the most expensive place to live in Florida. The average home price in Highland Beach is over $1.1 million, and the cost of living is nearly 45.8% higher than in the rest of the state.

Starting July 1, 2024 landlords may not be able to collect three times the rent any longer.

Renters can negotiate with landlords on rent prices for new or existing leases. Before negotiating, research rent prices and property availability in the area. Compromising with landlords on lease length in exchange for a cheaper monthly rent is one potentially successful negotiating tactic.

Can you challenge a rent increase in Florida? ›

Tenants can object to a rent increase, although their likelihood of success is low unless you violated Florida's Landlord-Tenant Law or a local ordinance. They may start by responding with a letter that outlines their issues with the rent increase, or even file a petition in court.

Florida has no rent control laws so landlords may jack up your rates as much and whenever they like, unless it can be proved they did so in a retaliatory manner. In fact, the "Live Local Act" actually prevents local, governments from passing their own rent control ordinances.

What Happens to Rents in a Recession? Rents can go both up and down in a recession. The location of a rental property and how hard the local economy is hit by a recession will dictate whether rents go up, down or stay the same.

How are availability and rates calculated? Rental rates vary and are based on the property's characteristics, individual owner's preference, and time of year for your stay. January 1 to March 31 is the Winter/Peak Season posted rate. April 1 to December 31 is the Off Season/Non-Peak Season posted rate.

One of Florida's statewide mandates for short-term rental properties is that if you rent a property more than three times a year for less than 30 days at a time or if you publicly advertise your property for rent in this capacity, you must acquire a Florida short-term rental license from the state.

Florida rentals average $2,000 for a studio rental to $3,600 for a 4-bedroom rental. The median price of all currently available listings is $2,700, or roughly $2 per square feet. For the apartment units and housing in August 2024, median rents have been roughly unchanged over the last year.

Here in the Tampa metro area, year-over-year rent prices dropped by 6 percent. Orlando and Miami, too, saw rent prices decrease by 4.8 and 3.8 percent, respectively.