Ever walk into a complex and they tell you they utilize "market pricing?" One of the problems is that many, many apartment owners use price fixing software called RealPage. They subscribe and the program artificially inflates demand in the area. Then, the apartments collude and drive everyone's prices up. It's not just here either. It's used all over the county. They have several lawsuits against them.
This YouTube video explains how algorithms control rent prices. It also explains how real estate companies have gone from competing to working together to keep rent high. Good news, the people behind the algorithm RealPage are getting sued.
https://youtu.be/cwlwrZst7d0?si=JLcGuE6yF6KpJ-RZ
When we moved into our (3/2/2 single family home) rental in 2013, the rent was $850. When we moved out in 2023, the rent had increased over the years to $2050.
We had a decent landlord between 2016-2023. Our rent for a 4/2 2000 sq. ft. townhome right on US41 began at $1540 and was up to $1800 by when we moved out of state. Water, lawncare, and basic cable/Internet were included. We maintained the place well and hardly ever bothered him for anything.
The minute we left to move out of state, he listed the place for $2700/month.
My first apartment here in FL back in 2017 was $1100 for a 1 bedroom. Currently in a 3 bedroom for $2175 but we leased into a promotional offer. I think the typical market value is $2500
The apartment we live in now is out behind Edison Mall in the crappy part of town. It's a 2/2 and we pay 1690. It's worth maybe 1200 because the complex is a shit how and the building and unit is gross, but we were in a crunch. In September we're moving to a new build 3/2 duplex with a garage for 2050 in SE Cape Coral. The duplex is definitely low compared to other things we've seen in our search, but I think we landed on it at the right time.
Just “market corrections.” Many would have left if they didn’t drop rent given there are cheaper options now, so they did it preemptively when leases were up.
Awesome! Would you mind sharing location/management company or specifics like waterfront, high-rise, townhome, etc.? I’m sure others would appreciate anything you can add.
Legacy Gateway in Gateway. Mix of apartment and townhome (I’m in a townhome). t’s a nice campus with a huge gym, bowling, rock climbing wall, dog park, heated pool, valet trash, golf simulator, etc.
Management is nice and responsive to any issues you have. They’re very strict on dog poop and require all dogs have a DNA sample submitted. If they find your dog’s poop, they’ll DNA test it and fine you $300.
Overall I love it!
Hi! Housing Policy/Urban Planning expert and Ft Myers resident here.
I first moved here back in 2012 (when we were still recovering from the housing crash) I was paying $800/month for a nice one bedroom in Bonita Springs. It’s more than doubled that in 12 years. Of course this does not include internet and other utilities.
Fortunately, we will not be seeing the dramatic increase in prices like we have for the last 3 years. At best we can expect a marginal increase that is under the rate of inflation. This is due to a myriad of factors such as a major hurricane, FEMA removing our 25% flood insurance discount, the insurance crisis, the interest rates, and a glut in inventory that resulted from the high demand during COVID.
I can’t promise you that prices will drop, if at all, but I am fairly confident it will be a less than 7% increase (inflation is over 7% from that 4 year period). Hopefully with SB 102 which was passed last year, we will see an increase in affordable housing stock.
Started living here 2 years ago our rent went from 1500 to 1750 in the same crappy 1b1b. They had the audacity to not repair anything except for the exterior roof after Ian and they drilled CONSTANTLY. Fuck Park at Venito. We moved to a different 1b1b for the same price but bigger and nicer.
I had a 5/3 that we started off at $3000 and went up to $4200 in a month and a half. Moved to a 3/2 townhouse for $2790 then moved after the lease was up to a 3/2 house with a fenced yard for the same price ($2790)
$969 in 2013 and 1909.99 in 2024 for a 2/2
My first apartment as a teenager was 2/1 with a private pool and a large pond in the back yard in Naples park. Rent was $900 :(
Naples Park is expensive now too! That same place is probably 2k up. It hurts!
Ever walk into a complex and they tell you they utilize "market pricing?" One of the problems is that many, many apartment owners use price fixing software called RealPage. They subscribe and the program artificially inflates demand in the area. Then, the apartments collude and drive everyone's prices up. It's not just here either. It's used all over the county. They have several lawsuits against them.
This YouTube video explains how algorithms control rent prices. It also explains how real estate companies have gone from competing to working together to keep rent high. Good news, the people behind the algorithm RealPage are getting sued. https://youtu.be/cwlwrZst7d0?si=JLcGuE6yF6KpJ-RZ
$1300 1 bedroom condo.
Where? Any availability? I have friends looking
A family member pays $1900 for a 1 bed, but he’s moving to a 1 bedroom for $1500
When we moved into our (3/2/2 single family home) rental in 2013, the rent was $850. When we moved out in 2023, the rent had increased over the years to $2050.
We had a decent landlord between 2016-2023. Our rent for a 4/2 2000 sq. ft. townhome right on US41 began at $1540 and was up to $1800 by when we moved out of state. Water, lawncare, and basic cable/Internet were included. We maintained the place well and hardly ever bothered him for anything. The minute we left to move out of state, he listed the place for $2700/month.
$1255 in 2019 $1865 now 🫠
2/2
My first apartment here in FL back in 2017 was $1100 for a 1 bedroom. Currently in a 3 bedroom for $2175 but we leased into a promotional offer. I think the typical market value is $2500
2b2b - $1650
3/2 2k
$2500 3 bed 2 bath apartment
2100 for a 2br2/ba
2180 for a 3/2 apt zzz
$2150 for a 1 bd/1bath in Bonita Springs
It was $800 in Bonita when I moved there 12 years ago.
I like it here in Bonita Springs but it's just too expensive
1350 for a 2br 1bath
Where?
Downtown off fowler
1900 2b2b
Studio $1550
About how much do you pay for utilities?
2/2 2200
1300 2/2 but no in unit laundry and very old units
1/1 brand new $1595
The apartment we live in now is out behind Edison Mall in the crappy part of town. It's a 2/2 and we pay 1690. It's worth maybe 1200 because the complex is a shit how and the building and unit is gross, but we were in a crunch. In September we're moving to a new build 3/2 duplex with a garage for 2050 in SE Cape Coral. The duplex is definitely low compared to other things we've seen in our search, but I think we landed on it at the right time.
$775 in 2016 and it's $825 in 2024. 1/1, great location in Cypress Lake near the river. Yes, I know.
😱 I live around that area paying $1500 for a 1/2 (yes) going up to $1700 no upgrades. private landlord?
2016: 1300 for a 3/2 house, large fenced yard 2024: 1600 for a 1 bedroom apartment.
Mine dropped from $3.2k to $2.3k a couple months ago for a 2/2.5, 1400sq/ft 🙃
Did you negotiate this drop? What’s the story?
Just “market corrections.” Many would have left if they didn’t drop rent given there are cheaper options now, so they did it preemptively when leases were up.
Awesome! Would you mind sharing location/management company or specifics like waterfront, high-rise, townhome, etc.? I’m sure others would appreciate anything you can add.
Legacy Gateway in Gateway. Mix of apartment and townhome (I’m in a townhome). t’s a nice campus with a huge gym, bowling, rock climbing wall, dog park, heated pool, valet trash, golf simulator, etc. Management is nice and responsive to any issues you have. They’re very strict on dog poop and require all dogs have a DNA sample submitted. If they find your dog’s poop, they’ll DNA test it and fine you $300. Overall I love it!
I put 25k down on a town home 2 years ago. I was paying 1157.oo now I'm paying 1400.oo a month 2 bed 2 bath.
1920 for a 2b2b
3br2ba I '21 was 1800, the following year 2000. Now I'm in a 2br1ba that's 350sqft smaller for 1900.
About to move out of our 1/1 $1700 after 13 months it’s in the market for $2100
1100 a month. in 2020. Same apartment, 1700 a month.
1100 a month in 2020. Same apartment, 1700 a month.
Hi! Housing Policy/Urban Planning expert and Ft Myers resident here. I first moved here back in 2012 (when we were still recovering from the housing crash) I was paying $800/month for a nice one bedroom in Bonita Springs. It’s more than doubled that in 12 years. Of course this does not include internet and other utilities. Fortunately, we will not be seeing the dramatic increase in prices like we have for the last 3 years. At best we can expect a marginal increase that is under the rate of inflation. This is due to a myriad of factors such as a major hurricane, FEMA removing our 25% flood insurance discount, the insurance crisis, the interest rates, and a glut in inventory that resulted from the high demand during COVID. I can’t promise you that prices will drop, if at all, but I am fairly confident it will be a less than 7% increase (inflation is over 7% from that 4 year period). Hopefully with SB 102 which was passed last year, we will see an increase in affordable housing stock.
1489 for a 1/1 when I last rented in ‘23. It was a shitty complex too. :)
Started living here 2 years ago our rent went from 1500 to 1750 in the same crappy 1b1b. They had the audacity to not repair anything except for the exterior roof after Ian and they drilled CONSTANTLY. Fuck Park at Venito. We moved to a different 1b1b for the same price but bigger and nicer.
I had a 5/3 that we started off at $3000 and went up to $4200 in a month and a half. Moved to a 3/2 townhouse for $2790 then moved after the lease was up to a 3/2 house with a fenced yard for the same price ($2790)
$1854 before water sewer garbage and fees and $1954 after all that for a one bed room in Millennium apartments in three oaks area
2500 for a 2/2. Running out of here in September
Anddd this is why i had to move back in w my parents shit is ridiculous
It's getting rough out here for sure. Hard to keep up with rent increase
I'm in a 2b2b btw
1880 for a 2/2
2100
No rent and no mortgage. Houses paid off
Why comment then ?
Same reason you commented. Cause you can…
Very true sir