Florida is known as the Sunshine State for an excellent reason. With over 663 miles of beaches and home to major attractions like Disney World and Universal Studios, Florida's economy and things bring smiles to many faces! With over $1 trillion in the gross domestic product, about 21.5 million people call Florida home.
With a booming tourist economy and plenty of large businesses with open opportunities, Florida might be just the perfect place to boost your career, find your next home, and get the perfect tan.
The average home rent in Florida is $1,021 for a 2-bedroom home.
Currently, the most affordable cities in which to rent are Jacksonville, Saint Petersburg, Cape Coral, Palm Bay, Palm Coast, Homosassa Springs, New Port Richey, Dade City, Bartow and Kissimmee.
Typically, landlords look for a credit score of 600 or higher, but at 600 an elevated deposit is likely to still be required. However, a rent-to-own home may be a good option if a credit score is below 600 as the contract details are between the homeowner and the renter and can be adjusted if agreeable to both parties. When you rent-to-own a home it gives time for the renter to improve their credit score to enable them to purchase the home at the end of the lease agreement.
As of late summer 2021, the median home price increased by ~32%. This is the largest price jump since the beginning of the COVID-19 outbreak in spring of 2020.