ORLANDO, Fla. - When it comes to paying rent, most people would agree that it has been skyrocketing over the years in the state of Florida. For those living in Central Florida, you may not find it hard to believe that Orlando has been ranked as the 2nd priciest city to live in the state.
A new report by Zumper analyzed listings in September 2019 across 15 metro cities to find the most and least expensive cities with the fastest growing rents.
According to the findings, the average prices of a one bedroom apartment in Florida will cost you around $1,290 and a two bedroom is averaging $1,410. The good news, Zumper reports, is that the price of the one bedroom has dropped 1.5-percent since September and the two bedroom prices has dropped 3.4-percent.
The study found that New Smyrna Beach was the most expensive city with one bedrooms priced at $1,350. Kissimmee came in third with rent priced at $1,260.
If you're looking to save some money, Leesburg was ranked the most affordable city with one bedrooms averaging $730. Palm Coast was second with rent at $850 and Daytona Beach was third at $860.
In June, the National Low Income Housing Coalition published a report showing what a person needs to make per hour in the state of Florida to be able to afford a two-bedroom apartment without paying more than 30% of their income. Overall, it's recommended that Floridians should earn at least $22.86 per hour.
"In order to afford this level of rent and utilities — without paying more than 30% of income on housing — a household must earn $3,962 monthly or $47,542 annually," the report states.