close
close

Gen Z Renters — How Much Your Rent Will Cost in These 6 Florida Cities – AOL

AntonioGuillem/Getty Images/iStockphoto

AntonioGuillem/Getty Images/iStockphoto

Retirees aren’t the only ones heading to the Sunshine State.

Long known as a top destination for people over 65, Florida has also become popular with Gen Z. Many members of the demographic born between 1997 and 2012 still haven’t left home and set off on their own, of course. But some of those who are – and who have switched states – have landed in Florida.

For you: 8 places where houses suddenly become big deals

Read the following: How to get rich in real estate starting with just $1000

The Sunshine State ranked third on Zillow’s list of the best states for Gen Z out-of-state. Florida trails only Texas and California on the list.

If you’re a member of Gen Z hoping to move to Florida, it’s worth doing a little research on how much rent you’d pay, as well as the overall cost of living — and living conditions in general. To help you out, GOBankingRates has compiled data on six popular Florida destinations.

Keep reading to get an idea of ​​how much rent you’ll pay today in each city, along with population, livability ratings, and overall cost of living each year.

And if you’re curious about rental costs in other states, be sure to check out GOBankingRates’ analysis of rental costs in 46 cities.

Hialeah

  • Total population: 222,996

  • Life Score: 73

  • Total annual living expenses: 47,492 dollars

  • Average monthly rent overall: 1676 dollars

  • Average monthly rent for 1 bedroom: 1307 dollars

  • Average monthly rent for 2 bedrooms: 1822 dollars

Hialeah may not have the same name as Miami or Orlando, but it is the sixth largest city in Florida. Hialeah is located northwest of Miami. The Spanish-speaking percentage of the population – more than 90% – is one of the highest in the US

Learn more: 6 Best Florida Suburbs to Buy Property in the Next 5 Years, According to Realtors

Jacksonville

  • Total population: 950,203

  • Life Score: 84

  • Total annual living expenses: 40,372 dollars

  • Average monthly rent overall: 1340 dollars

  • Average monthly rent for 1 bedroom: 1127 dollars

  • Average monthly rent for 2 bedrooms: 1326 dollars

Florida’s most populous city, Jacksonville, is located on the state’s northeast coast, about halfway between Orlando and Savannah, Georgia. Jacksonville has more than 500 neighborhoods, the largest city park system in the country, the University of North Florida, and more.

Miami

  • Total population: 443,665

  • Life Score: 81

  • Total annual living expenses: $50,227

  • Average monthly rent overall: 1885 dollars

  • Average monthly rent for 1 bedroom: 1575 dollars

  • Average monthly rent for 2 bedrooms: 2086 dollars

The unofficial capital of South Florida is located on the southeast coast of the state. The city itself has over 440,000 residents, but the Miami metro area is home to more than 6 million. It boasts world-renowned nightlife, major league sports and a host of cultural opportunities.

Orlando

  • Total population: 307,738

  • Life Score: 81

  • Total annual living expenses: 43,838 dollars

  • Average monthly rent overall: 1555 dollars

  • Average monthly rent for 1 bedroom: 1325 dollars

  • Average monthly rent for 2 bedrooms: 1647 dollars

As a convention and tourist magnet, sunny Orlando has one of the largest concentrations of theme parks anywhere in the world. You’ll find Orlando in central Florida, about 3.5 hours north of Miami by car.

Saint Petersburg

  • Total population: 259,343

  • Life Score: 86

  • Total annual living expenses: $42,029

  • Average monthly rent overall: 1444 dollars

  • Average monthly rent for 1 bedroom: 1241 dollars

  • Average monthly rent for 2 bedrooms: 1563 dollars

You’ll find St. Petersburg southwest of Tampa on the Pinellas Peninsula, along Florida’s west coast. St. Petersburg is home to the University of South Florida, the Poynter Institute, and the Tampa Bay Rays major league baseball team.

Tampa

  • Total population: 388,768

  • Life Score: 80

  • Total annual living expenses: $44,102

  • Average monthly rent overall: 1584 dollars

  • Average monthly rent for 1 bedroom: 1341 dollars

  • Average monthly rent for 2 bedrooms: 1674 dollars

Another Gulf Coast city, Tampa trails only Jacksonville and Miami in population among Florida cities. Its many attractions include the historic Ybor City District, the Tampa Riverwalk, and numerous theaters and museums.

Methodology: For this study, GOBankingRates analyzed the average cost of rent in major US cities and the cost of living in those cities. GOBankingRates first pulled the 100 most populous cities from the US Census American Community Survey. Additional information collected for each city includes total population, total number of households, population age 65 and over, and median household income. Cost of Living Indexes are obtained from Sperling’s BestPlaces. The average total rental price, 1-bedroom rental price, and 2-bedroom rental price were obtained from ApartmentList. The average price of a condo or condo is obtained from the Zillow Home Value Index. The liveability index is obtained from AreaVibes. GOBankingRates uses cost-of-living indexes and national average costs for all residents, obtained from the Bureau of Labor Statistics’ Consumer Expenditure Survey. Using the average condo/co-op value, assuming a 10% down payment and using the national average 30-year fixed mortgage rate, the average mortgage is calculated. Using the total cost of rent and expenses, the total cost of living for each city is calculated. All data is current as of September 13, 2024.

More from GOBankingRates

This article originally appeared on GOBankingRates.com: Gen Z Renters — What Rent Will Cost You in These 6 Florida Cities

Leave a Reply

Your email address will not be published. Required fields are marked *