Rents still rising in Miami — but not as wildly

• In July, average rent nationwide jumped 13.2% year-over-year to $2,031.
• Fort Myers and Miami led the nation with the largest year-over-year rent increases at 25.2% and 24.6%, respectively. In Miami, average rent costs $2,841.

The intrigue: The professors pointed out that over the past six months, Fort Myers' average rent rose "only" 7%, while Miami’s average rose 8.4%.

• Traditionally, rents rise 3-5% per year, they said.

What they're saying: Johnson said in a statement that annual rent growth in Fort Myers and Miami is "coming back in line with traditional increases, so renters renewing leases aren't as overwhelmed as they were last year."