Miami, Tampa Post Largest Jump in Rents as Sun Belt Prices Soar

Florida’s Tampa and Miami metropolitan areas are recording the biggest rent increases in the U.S., with workforce migration driving up the cost of living across the Sun Belt.

Among the 50 largest metropolitan areas, Tampa ranked No. 1 with a 27% surge in rent in the 12 months through January, according to the Zillow Observed Rent Index. Rents also rose 27% in the Miami area, while they were up 26% in No. 3 Phoenix, the data show.