Report shows high-rent prices making it hard to live in SWFL, much of the state

Reporter: Taylor Smith Writer: Jack Lowenstein
Published: Updated:
Credit: WINK News.

High-rent prices are making it harder for many people to make ends meet in Florida, and that includes Southwest Florida – one of the most expensive areas to rent in the state.

According to the 2021 Out of Reach report, an individual would have to make more than $26 an hour to afford housing in parts of Collier County. On average, someone would have to work nearly three full-time jobs at minimum wage to afford a two-bedroom rental home.

We looked at salaries for teachers and firefighters, and it looks like some of them would struggle to pay rent. Some of those jobs start around $30,000 to $40,000 annual salaries, and there are a lot of people who don’t make that much year-round.

β€œI feel like it can get overwhelming,” Deshawn Layne said.

Having the essentials is not always easy.

β€œI’ve been renting down here for a good minute,” said Layne, who lives in Collier County. β€œWith everything going on and how it’s going high, I feel like they’re not reasonable.”

Layne agrees rent prices are sky high and sometimes hard to pay up.

β€œThey can’t breathe because there is just so much more they have to come up with to pay this,” Layne said.

According to the report, the Naples-Immokalee-Marco Island area is one of the top five most expensive areas to rent. The average two-bedroom apartment or home is more than $1,300 in monthly rent.

“Because prices are higher here, we do see a lot of people renting, and a lot of new construction, luxury apartments and rentals,” Realtor Michelle Jackson said.

That means to live comfortably, people would need to make on average $55,000 annually.

To put it into perspective, teachers in Collier County make yearly salaries of $30,000 to $52,000, and starting EMS and firefighters make $44,000 to $76,000 each year.

For some people, including Grant Henderson, it’s what drove him away from renting, and he decided to buy a home.

β€œI noticed that rent and property prices were going up, and I was renting, and it was going up,” Henderson said. β€œI decided I was getting tired of that.”

The salaries needed to live comfortably in Cape Coral and Fort Myers are almost $48,000 each year. In Punta Gorda, it’s more than $42,000.

Unfortunately, Jackson says she thinks the trend will continue.

β€œWe predict it to continue on for about a year and a half,” Jackson said. β€œWe don’t see it tanking or anything like that.”

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