The South Florida tri-county area (Broward, Palm Beach and Miami-Dade) has seen the highest rental increases in the nation over the past year. According to data released by realtor.com, median rents have been steadily climbing month after month. As of March 2022, the median rent has increased 57% year over year, leaving many locals faced with housing dilemmas.
New ordinances have been passed for Miami-Dade County, the city of Lake Worth Beach, and most recently, Broward County. The new legislation requires landlords to give at least 60 days notice before increasing rents by more than 5%. This will help ease the burden of renters trying to find somewhere to go without being faced with immediate eviction.
