March 8, 2021
After months of lowering rental rates due to the pandemic in early 2020, the trend is inching upward once again from the low points reached during summer 2020. February 2021 marked the “seventh straight month of rental growth” in Sarasota. Currently the median rent for a one-bedroom apartment is $1,042 and a two-bedroom apartment is $1,428 in the area.
To put things into perspective compared to other markets in Florida, the average rate for a two-bedroom apartment in Sarasota is more expensive than one in Tampa, St. Petersburg, Orlando, Fort Lauderdale, Jacksonville, and Tallahassee. However, on average it is cheaper than a two-bedroom apartment in Miami or Pembroke Pines.
This trend of recovering rental prices is not isolated to Sarasota, as six of the ten markets tracked by Apartment List are also on the rise.