National, Orlando apartment rental costs on the rise

ORLANDO, Fla. — Nationwide apartment rents are rising at the fastest pace seen in a decade, with Orlando seeing a more than 2% increase last month.

And the spike comes at a time some people are still struggling to stay in their homes.

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“April saw a huge jump across the board,” said Realpage Market Analyst Adam Couch.

Couch, who tracks U.S. apartment data for software provider, Realpage, said Central Florida’s rising rents pairs with its exploding job market and the flood of out-of-state migration from the pandemic.

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Right now, in Orlando, it takes a $50,000 salary a year to afford a two-bedroom rental at HUD’s rate of $1,248 a month.