Metropolitan Statistical Area (MSA):
North Port-Sarasota-Bradenton, FL is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the North Port-Sarasota-Bradenton, FL metropolitan statistical area (MSA) is one of the hottest housing markets in the country right now. Home prices in the MSA have been on the rise for several years now, and there is no end in sight. The combination of a strong economy, low interest rates, and an influx of retirees and other people moving to Florida from other parts of the country has made this one of the most desirable places to live in the United States.
The median home price in the MSA was $265,000 in 2017, up from $248,000 in 2016. This represents a healthy increase of nearly 7% year over year. And it's not just home prices that are on the rise; rental prices are also increasing at a rapid pace. The average rent for a two-bedroom apartment in the MSA was $1,250 per month in 2017, up from $1,200 per month in 2016. That's an increase of nearly 4% year over year.
There is no sign that this trend will slow down anytime soon either. In fact, if anything, it appears that it will only continue to accelerate. So if you're thinking about buying or renting a home in the North Port-Sarasota-Bradenton area, you'd better act fast before prices get even higher!