- Data from Real Page says Tallahassee was the only major city in Florida to see a rise in rent during the summer.
- A local landlord says the rise in the price of insurance, a bump in property tax and more people moving to Tallahassee has made rent high.
- The price of renting a three-bedroom, two-bath home in Northeast Tallahassee is up 40 percent from 2018.
BROADCAST TRANSCRIPT:
Parks like AJ Henry Park are one of the beautiful amenities people enjoy when moving to Northeast Tallahassee. The price per month to live in our neighborhood is higher than it was in June.
I investigated why experts with Real Page say Tallahassee was the only major city in Florida to have rent rise over the summer months. I found out it's having a big impact on neighbors who are new to the area.
Shannon Lord lives in Northeast Tallahassee with her dog Sully. She's a chiropractor. She's also a renter.
"It's a big small town and I love all the different trails that are around here," Lord said. "It's perfect for my lifestyle."
But, it comes at a price.
"I'm spending almost $500 more a month just to have what I need," Lord said. Her experience is reflective of an overall trend.
According to MLS records, the price to rent a house in Northeast Tallahassee has gone up 40 percent from 2018. A three bedroom, two bath used to be about $1,500 per month. Now, the average is $2,100.
That's something that realtor and landlord Christie Perkins said she has noticed. As the Capital City is one of the only cities with rising rents in Florida, Perkins told me the issue is caused by a few things.
"The number of people moving here to this town, the increase in local taxes which was just voted on by our city commission and the increase in insurance," Perkins said.
She said those factors have forced a lot of landlords like herself to up their monthly rate. "I don't want to pass that along to my tenants, but I am going to have to," Perkins said.
It's something that Lord said can be hard as a young professional.
"You're trying to build a career and eventually own a house but it's harder to save as much as you want to when you have to worry about spending so much on rent," Lord said.
Perkins' suggestion: "You're better off staying where you are, because your landlord is most likely not going to raise your rent so much to kick you out," Perkins said. "If you protest, they may say 'Eh, it's probably worth it to keep it at where you can afford it than flip the unit.'"
That's something Lord plans to do in her new place.
"Thankfully I found something but it definitely took a lot of resilience," Lord said.
It’s not just rent that’s on the rise.
Realtor.com says homes in Tallahassee were nearly 4 percent higher in asking price than last year.
