Cape Coral is becoming more attractive to build-to-rent investors, as average rents keep on rising.
Cape Coral’s median rent is $1,140 a month for a two-bedroomed property. So says data from specialist Apartment List.
It means Cape Coral is the 12th most expensive place to live out of the 100 largest markets, and it is more costly to live in Cape Coral now than last year.
The Cost Burden rate in Cape Coral is 55.4% and almost 40,000 households in the city are affected, says the website in its new 2018 cost burden data. Even so, this is below the Florida average of 56.5%.
More than 500 metros across the country were included in the study. Of the 100 largest metros, the median renter would be burdened in 64 metros. For this study, the affordability threshold is 30%.
Across the country, the share of renters who are cost-burdened increased slightly from 49.5% in 2017 to 49.7% in 2018. This is the first time that the national cost burden rate has increased since 2014.
The number of cost-burdened renter households jumped by 299,000 from 2017 to 2018, and is now 2.8 million higher than it was in 2008, says the report.
Qualitas offers a range of options for build-to-rent investors, offering competitive returns.