1 bed 1 bath apartments rents are priced very high in sunrise area

[StarryKnight1]

Originally Posted by BNBR

Rents are high because people can afford it. This isn't unique. The rate of pay generally is, OF COURSE, keeping up with rising rents since people are obviously renting...

Source?

[DanielAvery]

"Those who can afford it" in this case are likely retirees rather than wage-slaves like most of us. There are plenty of articles out there that will support the argument that wages are NOT keeping up with rents (or home values, for that matter) in many parts of the country, mostly because people move to those areas with money they earned elsewhere, with plans to live off that money while living there.

[BNBR]

That's just kind of the way the free market works. The market adjusts as needed. Nothing is so black and white. What retirees are moving here and renting apartments in Plantation or Sunrise? Lol. That is most definitely not what is driving up the costs. Rents are going up because people can afford it. When "wage slaves" can't afford rents, they won't rent, and the landlords won't have renters, which would drive the cost down. Same with housing prices. But right now, people are earning more and able to pay more, with a lot of renters out there willing to pay these rates.

Even wages are going up right now in the area and it's increasingly hard to find good workers down here. You have to pay more and more. It's been substantial over the last 2 years.

[StarryKnight1]

I see my query for a source has gone unanswered.