If you’ve been feeling like rent prices in Sarasota only go one direction (up), here’s a refreshing change: they’re actually falling.
According to the latest July report, Sarasota rents are down 5% year-over-year and slipped another 1.6% from June. That puts the median one-bedroom around $1,300 and a two-bedroom just shy of $1,400.
Looking at the bigger picture, from January to July 2024, rents dipped 2.8%. Fast-forward to the same time frame in 2025, and that drop is now 4.2%. For perspective, Florida as a whole is down just 1.3% and the national average is down only 0.8% — so yes, Sarasota is definitely leading the price-cut parade.
But before you start popping the champagne, there’s a catch: affordability is still a challenge. The Suncoast Searchlight reports renters in Sarasota-Manatee need to make around $35 an hour to comfortably afford a two-bedroom, with fair market rent for that coming in over $1,800.
So, what’s behind the recent price drop? Redfin credits a jump in apartment supply, giving renters a little more negotiating power. The same cooling trend is happening in the single-family rental market too.
Another possible reason? The city’s push for affordable housing. In recent years, Sarasota has loosened the rules on mixed-use developments, boosted density bonuses for builders adding attainable units, and put $40 million toward affordable housing.
Bottom line: rents are cooling, choices are expanding, and renters have a bit more leverage — and in Sarasota’s competitive market, that’s a welcome shift.
