Rental rates fall in Boca Raton/Deerfield Beach

While Miami’s rental rates have continued to grow, the median rental rate in the Boca Raton/Deerfield Beach submarket fell 6 percent in the third quarter, according to a report from brokerage and consultancy Condo Vultures. Leasing activity jumped 7 percent in the same period, however, with 125 more properties leased in the third quarter compared to the third quarter of 2011. The coastal market’s leasing inventory stands at about 100 days of product, according to the report. — Alexander Britell