Rental rates jump in Broward, Palm Beach

Rental rates in South Florida are on the rise, the Sun Sentinel reported. In Broward County, rents rose 3.3 percent in the second quarter, compared to the same period in 2011, now standing at $1,097, according to data from research firm Reis. Palm Beach County saw a similar rise of 2.7 percent, with rental rates in that county now at $1,077. Rental demand has been surging in the tri-county area, leading to tightening rates and renewed interest from multi-family developers. [Sun Sentinel]