213 1 Bedroom Apartments for rent in Deerfield Beach, FL
July 2020 Deerfield Beach Rent Report
Welcome to the July 2020 Deerfield Beach Rent Report. Deerfield Beach rents declined over the past month. In this report, we'll evaluate trends in the Deerfield Beach rental market, including comparisons to cities throughout the metro, state, and nation.
July 2020 Deerfield Beach Rent Report
Welcome to the July 2020 Deerfield Beach Rent Report. Deerfield Beach rents declined over the past month. In this report, we'll evaluate trends in the Deerfield Beach rental market, including comparisons to cities throughout the metro, state, and nation.
Deerfield Beach rents declined significantly over the past month
Deerfield Beach rents have declined 0.4% over the past month, and have decreased slightly by 0.1% in comparison to the same time last year. Currently, median rents in Deerfield Beach stand at $1,199 for a one-bedroom apartment and $1,520 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in April. Deerfield Beach's year-over-year rent growth is level with the state average of -0.1%, but lags the national average of 0.2%.
Rents falling across the Miami Metro
Rent prices have been decreasing not just in Deerfield Beach over the past year, but across the entire metro. Of the largest 10 cities in the Miami metro for which we have data, 6 of them have seen prices drop. Here's a look at how rents compare across some of the largest cities in the metro.
- Over the past year, Boca Raton has seen the biggest rent drop in the metro, with a decline of 1.2%. Median two-bedrooms there cost $1,848, while one-bedrooms go for $1,457.
- West Palm Beach has seen the fastest rent growth in the metro, with a year-over-year increase of 1.2%. The median two-bedroom there costs $1,392, while one-bedrooms go for $1,098.
- Miami Beach has the least expensive rents in the Miami metro, with a two-bedroom median of $1,283; rents went down 0.7% over the past month but rose 0.7% over the past year.
- Pembroke Pines has the most expensive rents of the largest cities in the Miami metro, with a two-bedroom median of $2,396; rents went down 0.4% over the past month and 0.9% over the past year.
Many large cities nationwide show more affordable rents compared to Deerfield Beach
As rents have fallen slightly in Deerfield Beach, a few large cities nationwide have seen prices increase, in some cases substantially. Compared to most large cities across the country, Deerfield Beach is less affordable for renters.
- Although rents across cities in Florida have been marginally on the rise, the state's growth as a whole has held steady over the past year. For example, rents have grown by 0.3% in Jacksonville and 0.1% in Tampa.
- Deerfield Beach's median two-bedroom rent of $1,520 is above the national average of $1,192. Nationwide, rents have held steady over the past year.
- While rents in Deerfield Beach fell slightly over the past year, the city of Memphis saw an increase of 0.5%.
- Renters will generally find more expensive prices in Deerfield Beach than most large cities. For example, Memphis has a median 2BR rent of $837, where Deerfield Beach is more than one-and-a-half times that price.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.