The Real Deal Miami

Rent gains slow in Miami and Fort Lauderdale

April 05, 2013 10:00AM

Rents on single-family homes in the greater Miami area rose 2.8 percent in March year-over-year, according to data from real estate website That increase was tiny when compared to the approximately 12 percent rise in asking prices for single-family homes for sale, the Miami Herald noted.

Trulia told the paper the data suggests that investors are buying up homes to rent them out and have added to the supply, causing price gains to slow.

In the Fort Lauderdale area, rents for single-family homes fell 1.2 percent year-over-year, even as the asking prices for homes increased 10.7 percent, per Trulia. [Miami Herald] –Guelda Voien