Orlando SentinelOrlando Sentinel

A few days ago, Matt was working in the home office of his Baldwin Park apartment when his wife came in crying.

She couldn't catch her breath.

It wasn't that. The landlord gave the renewal notice to the Swansons. The monthly rent on their two-bedroom was going up by 40%.

We are facing financial eviction.

Experts say that the situation isn't likely to end anytime soon because of the high rents.

I wish I could tell you that we are going to have some moderation in rents. I don't see it. I think we're going to see more aggressive price increases.

According to Dwellsy, the median asking rent in metro Orlando in March was $2,295. The highest increase in the nation can be found in the city of Orlando.

Only two Florida cities made the top 10, with Jacksonville and Tampa increasing by more than 50%. Tuscon, Arizona, had a 139% increase.

Last year, his rent went up by $100, and he expected it to go up again this year. He said that a hundred in a normal year would feel like a lot.

A request for comment was not returned.

30 days was given for Swanson to agree to the new lease. He said the search for a more reasonably priced apartment has been frustrating.

The data analysts at CoStar say that Metro Orlando has a 5.2% vacancies rate.

He says he has given up on finding a new place to live.

Even if we have to make some concessions about quality or location, our approach is to find as affordable of a rental house as we can.

It might be difficult for him as well. Bordo said that rental homes have seen demand increase. In March, the median asking rent for a single- family home was $2,400 per month, compared with $1,681 for apartments, according to Dwellsy.

Everyone wants that type of home right now, Bordo said.

It's difficult to track the single-family rentals market because most of them are owned by small investors.

Bordo believes that the rise of institutional single-family rental investors, such as American Homes 4 Rent, could be a stabilizing factor in rents.

Only 3% of the market is held by institutional investors, a number that is growing rapidly, especially in mid-sized cities.

Bordo said that the middle-expense markets are where they put the most focus.

Bordo acknowledges that the presence of these new players is putting added pressure on the housing market, which moves prices higher.

In the past year, there have been four new record lows for inventory in the area, which is a reflection of the housing market.

Both of the Swansons have graduate degrees. Matt has been making six figures for two years, while Katelynn works as a personal trainer. They were going to save another year to buy a house and start a family.

It feels like someone is digging the ground out from under me.

He said in an email that it was easy to say that housing is nuts.

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