PALM BEACH COUNTY, Fla. — New numbers released Friday suggest rent prices in South Florida are starting to level off.
Florida Atlantic University professor Dr. Ken Johnson is one of the leading experts on real estate and housing trends.
"Our population growth here in Palm Beach County is exceptional," he said. "In Martin and St. Lucie counties, the growth is wildly exceptional."
FAU's College of Business published a new study this week in the Waller, Weeks and Johnson Rental Index. The study shows rent prices have stabilized across South Florida, but don’t expect them to come down.
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"Right now, we don't have enough roofs to live under and we don't have enough to rent to the new people moving here. People are moving here so fast, it's not shocking that we don’t have the housing," Johnson said. "We will work our way out of this, it's just not going to be tomorrow or the next day. People always ask me, how long and I tell them, it depends on how fast we build."
For a complete look at Johnson’s rental index report, click here.