Zip codes with the fastest growing rent in Florida

Written by:
March 24, 2021
realtor.com

Zip codes with the fastest growing rent in Florida

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Florida using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

Zip codes with the fastest growing rent in Florida

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Florida using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#30. 32221 (Jacksonville)

- 1 year rent change: +8.9%
--- #4 fastest growing rent among zip codes in Jacksonville, FL metro
- 5 year rent change: +26.0%
- Typical rent: $1,559
--- 10.8% above typical rent in Jacksonville, FL metro

- Pictured (for rent): 7777 Normandy Blvd, Jacksonville 32221 ($1,310)

#29. 32909 (Palm Bay)

- 1 year rent change: +9.0%
--- #2 fastest growing rent among zip codes in Melbourne, FL metro
- 5 year rent change: +38.0%
- Typical rent: $1,432
--- 7.2% less than typical rent in Melbourne, FL metro

- Pictured (for rent): 484 Mercury Ave SE, Palm Bay 32909 ($1,050)

#28. 33909 (Cape Coral)

- 1 year rent change: +9.0%
--- #3 fastest growing rent among zip codes in Fort Myers, FL metro
- 5 year rent change: +26.0%
- Typical rent: $1,538
--- 10.2% less than typical rent in Fort Myers, FL metro

- Pictured (for rent): 3936 Pomodoro Cir, Cape Coral 33909 ($1,595)

#27. 32118 (Daytona Beach)

- 1 year rent change: +9.1%
--- #3 fastest growing rent among zip codes in Daytona Beach, FL metro
- 5 year rent change: +31.3%
- Typical rent: $1,306
--- 11.8% less than typical rent in Daytona Beach, FL metro

- Pictured (for rent): 1045 Chaffee Pl Ste 1, Daytona Beach 32118 ($1,375)

#26. 32763 (Orange City)

- 1 year rent change: +9.1%
--- #2 fastest growing rent among zip codes in Daytona Beach, FL metro
- 5 year rent change: +35.8%
- Typical rent: $1,446
--- 2.3% less than typical rent in Daytona Beach, FL metro

- Pictured (for rent): 1010 Skyline Loop, Orange City 32763 ($1,363)

#25. 33460 (Lake Worth Beach)

- 1 year rent change: +9.2%
--- #3 fastest growing rent among zip codes in Miami-Fort Lauderdale, FL metro
- 5 year rent change: +34.7%
- Typical rent: $1,436
--- 26.1% less than typical rent in Miami-Fort Lauderdale, FL metro

- Pictured (for rent): 1601 N Dixie Hwy, Lake Worth 33460 ($1,795)

#24. 34638 (Land O'Lakes)

- 1 year rent change: +9.2%
--- #10 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +25.4%
- Typical rent: $1,862
--- 16.7% above typical rent in Tampa, FL metro

- Pictured (for rent): 16947 Kettle Ln, Land O Lakes 34638 ($2,075)

#23. 32068 (Middleburg)

- 1 year rent change: +9.3%
--- #3 fastest growing rent among zip codes in Jacksonville, FL metro
- 5 year rent change: +32.8%
- Typical rent: $1,535
--- 9.1% above typical rent in Jacksonville, FL metro

- Pictured (for rent): 1535 Blanding Blvd, Middleburg 32068 ($1,025)

#22. 33971 (Lehigh Acres)

- 1 year rent change: +9.3%
--- #2 fastest growing rent among zip codes in Fort Myers, FL metro
- 5 year rent change: +27.5%
- Typical rent: $1,378
--- 19.5% less than typical rent in Fort Myers, FL metro

- Pictured (for rent): 4907 Bygone St, Lehigh Acres 33971 ($2,475)

#21. 32937 (Satellite Beach)

- 1 year rent change: +9.4%
--- #1 fastest growing rent among zip codes in Melbourne, FL metro
- 5 year rent change: +35.1%
- Typical rent: $2,147
--- 39.1% above typical rent in Melbourne, FL metro

- Pictured (for rent): 201 Harbor City Pkwy, Indian Harbour Beach 32937 ($1,600)

#20. 32003 (Fleming Island)

- 1 year rent change: +9.4%
--- #2 fastest growing rent among zip codes in Jacksonville, FL metro
- 5 year rent change: +25.4%
- Typical rent: $1,513
--- 7.5% above typical rent in Jacksonville, FL metro

- Pictured (for rent): 2285 Marsh Hawk Ln, Fleming Island 32003 ($1,863)

#19. 34655 (New Port Richey)

- 1 year rent change: +9.6%
--- #9 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +26.3%
- Typical rent: $1,662
--- 4.2% above typical rent in Tampa, FL metro

- Pictured (for rent): 1920 Spade Fish Blvd, Trinity 34655 ($1,832)

#18. 34957 (Jensen Beach)

- 1 year rent change: +9.6%
--- #2 fastest growing rent among zip codes in Port St. Lucie, FL metro
- 5 year rent change: +30.5%
- Typical rent: $2,452
--- 35.1% above typical rent in Port St. Lucie, FL metro

- Pictured (for rent): 3817 NW Mediterranean Ln, Jensen Beach 34957 ($1,589)

#17. 33584 (Seffner)

- 1 year rent change: +9.6%
--- #8 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +27.1%
- Typical rent: $1,614
--- 1.2% above typical rent in Tampa, FL metro

- Pictured (for rent): 1336 Valley Grove Dr, Seffner 33584 ($1,330)

#16. 32211 (Jacksonville)

- 1 year rent change: +9.8%
--- #1 fastest growing rent among zip codes in Jacksonville, FL metro
- 5 year rent change: +29.9%
- Typical rent: $1,224
--- 13.0% less than typical rent in Jacksonville, FL metro

- Pictured (for rent): 1462 Solera Ter, Jacksonville 32211 ($1,629)

#15. 33569 (Riverview)

- 1 year rent change: +9.8%
--- #7 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +27.0%
- Typical rent: $1,814
--- 13.7% above typical rent in Tampa, FL metro

- Pictured (for rent): 10811 Shasta Ct, Riverview 33569 ($1,750)

#14. 34953 (Port Saint Lucie)

- 1 year rent change: +10.0%
--- #1 fastest growing rent among zip codes in Port St. Lucie, FL metro
- 5 year rent change: +34.3%
- Typical rent: $1,842
--- 1.5% above typical rent in Port St. Lucie, FL metro

- Pictured (for rent): 1900 SW Aledo Ln, Port Saint Lucie 34953 ($1,989)

#13. 34609 (Spring Hill)

- 1 year rent change: +10.0%
--- #6 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +36.2%
- Typical rent: $1,555
--- 2.5% less than typical rent in Tampa, FL metro

- Pictured (for rent): 3454 Suncoast Villa Way, Spring Hill 34609 ($1,601)

#12. 33973 (Lehigh Acres)

- 1 year rent change: +10.1%
--- #1 fastest growing rent among zip codes in Fort Myers, FL metro
- 5 year rent change: +36.3%
- Typical rent: $1,152
--- 32.7% less than typical rent in Fort Myers, FL metro

- Pictured (for rent): 2162 Oxford Ridge Cir, Lehigh Acres 33973 ($1,750)

#11. 34690 (Holiday)

- 1 year rent change: +10.2%
--- #5 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +40.6%
- Typical rent: $1,209
--- 24.2% less than typical rent in Tampa, FL metro

- Pictured (for rent): 4909 Fruitwood Loop, Holiday 34690 ($1,295)

#10. 33801 (Lakeland)

- 1 year rent change: +10.2%
--- #2 fastest growing rent among zip codes in Lakeland, FL metro
- 5 year rent change: +40.1%
- Typical rent: $1,090
--- 26.4% less than typical rent in Lakeland, FL metro

- Pictured (for rent): 309 Mirroton Ave, Lakeland 33801 ($2,550)

#9. 34668 (Port Richey)

- 1 year rent change: +10.2%
--- #4 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +41.7%
- Typical rent: $1,270
--- 20.4% less than typical rent in Tampa, FL metro

- Pictured (for rent): 8228 Chasco Woods Blvd, Port Richey 34668 ($1,379)

#8. 32127 (Port Orange)

- 1 year rent change: +10.7%
--- #1 fastest growing rent among zip codes in Daytona Beach, FL metro
- 5 year rent change: +38.0%
- Typical rent: $1,446
--- 2.3% less than typical rent in Daytona Beach, FL metro

- Pictured (for rent): 5644 Regency Blvd, Port Orange 32127 ($1,395)

#7. 33803 (Lakeland)

- 1 year rent change: +11.3%
--- #1 fastest growing rent among zip codes in Lakeland, FL metro
- 5 year rent change: +38.6%
- Typical rent: $1,361
--- 8.0% less than typical rent in Lakeland, FL metro

- Pictured (for rent): 1555 Village Center Dr, Lakeland 33803 ($1,745)

#6. 33541 (Zephyrhills)

- 1 year rent change: +11.4%
--- #3 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +35.0%
- Typical rent: $1,536
--- 3.7% less than typical rent in Tampa, FL metro

- Pictured (for rent): 35940 Inspiration Dr, Zephyrhills 33541 ($1,665)

#5. 33707 (Saint Petersburg)

- 1 year rent change: +11.6%
--- #2 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +47.3%
- Typical rent: $1,720
--- 7.8% above typical rent in Tampa, FL metro

- Pictured (for rent): 3205 58th St S, Gulfport 33707 ($3,132)

#4. 33712 (Saint Petersburg)

- 1 year rent change: +11.9%
--- #1 fastest growing rent among zip codes in Tampa, FL metro
- 5 year rent change: +44.6%
- Typical rent: $1,463
--- 8.3% less than typical rent in Tampa, FL metro

- Pictured (for rent): 3301 32nd Ave S, Saint Petersburg 33712 ($1,920)

#3. 33480 (Palm Beach)

- 1 year rent change: +13.3%
--- #2 fastest growing rent among zip codes in Miami-Fort Lauderdale, FL metro
- 5 year rent change: +34.5%
- Typical rent: $4,661
--- 140.0% above typical rent in Miami-Fort Lauderdale, FL metro

- Pictured (for rent): 2560 S Ocean Blvd, Palm Beach 33480 ($2,750)

#2. 33405 (West Palm Beach)

- 1 year rent change: +17.3%
--- #1 fastest growing rent among zip codes in Miami-Fort Lauderdale, FL metro
- 5 year rent change: +50.1%
- Typical rent: $2,058
--- 6.0% above typical rent in Miami-Fort Lauderdale, FL metro

- Pictured (for rent): 3111 S Dixie Hwy, West Palm Beach 33405 ($3,450)

#1. 34242 (Sarasota)

- 1 year rent change: +21.0%
--- #1 fastest growing rent among zip codes in North Port-Sarasota-Bradenton, FL metro
- 5 year rent change: +37.4%
- Typical rent: $4,547
--- 139.8% above typical rent in North Port-Sarasota-Bradenton, FL metro

- Pictured (for rent): 1640 Summerhouse Ln Unit 102B, Sarasota 34242 ($6,000)

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