Skyrocketing rental prices leaving SWFL renters with few options

People looking for a new place to live in Southwest Florida are having a hard time finding something they can afford. New data shows prices for first-time renters are skyrocketing by nearly 50% in Collier County today compared to January.

One person renting in Collier County told WINK News, “we’re paying $2,450, and now we’re hearing that the rent is going up to $4,000.”

That is the amount people who live in Lago Luxury Apartments say they will need to pay if they want to stay in their homes.

“Gouging is too nice of a word for something like this,” said one resident.

The soaring price of rent is a problem in Collier County. It is a problem in Lee County too.

Analysts at Quote Wizard said the issue is worse for people looking to rent someplace new.

In Collier County:

• 49% increase in rent overall since January 2021
• 45% increase in rent since 2019
• Average 1-bedroom costs $1,744 compared to $1,169 in January

In Lee County:

• 23% increase in rent overall since January 2021
• 45% increase in rent since 2019
• Average 1-bedroom costs $1,267 compared to $1,031 in January

A person living in Collier County who didn’t want to share their name said, “we want to know what our rights are from a rental standpoint. Is the county and or state doing anything to help control these rate increases?”

WINK News asked Jacob Larow of Collier County Affordable Housing that question. “That is something we’re keeping an eye on obviously because some of our programs. That something with our HUD programs, that’s something we’re keen on keeping in mind as we are developing our programs and unveil those programs.”

Lago Apartments would not talk about the rent hikes at that particular complex.

Larow said Collier County is working on an eviction diversion program that will help keep eviction procedures out of the courts. The goal is to have that plan in place in January.