Golfing is one of the most sought-after recreational hobbies in the United States, with more than a million players a year, according to the US Golf Association.
But golf courses are becoming increasingly crowded, with the average size of a course increasing by about 30% per year since the 1970s.
Nowhere is this more apparent than in Florida, which has the most expensive golf courses in the country, with average rents of $7,800 per month, according a survey released Tuesday by the National Golf Foundation.
In the state, the average price for a two-person, two-bedroom home has increased from $1,927 in 2016 to $2,856 in 2018.
This is a significant price hike for homeowners who live in the state and have had to pay tens of thousands of dollars to build their homes.
But the median rent for a four-bedroom property in Florida is $1.35 million, according the report.
And in Florida in 2018, the median home value is $4.1 million, up almost $600,000 from five years ago.
“The problem is that the market is so saturated,” said Tom Stemberg, president and CEO of the Golf Foundation, which conducted the survey for the foundation.
“There’s just not enough room to move in.
So homeowners are going to have to make tough choices.
We’re talking about moving in a new house every two years.”
The foundation surveyed nearly 600 of its members in March and April and found that the median cost for a one-bedroom apartment in Florida has risen to $1 million.
For two-bedrooms, the price rose to $3.9 million in 2018 and $4 million in 2019.
A one-bedroom in Florida costs $1m more than it did five years earlier.
Meanwhile, a two-, three- and four-bed home have all increased by more than 50% over the same period.
In 2018, a one bedroom in Florida cost $2.6 million, while a two bedroom in the Sunshine State now cost $4,800.
“This is a massive trend,” Stembergy said.
“In many parts of the country we’re seeing the cost of housing rising so quickly.”
Stembergs organization is also tracking the average cost of renting a two or three bedroom in Texas, Florida, Florida and Georgia.
The average rent for those states rose by more that 10% between 2016 and 2018, to $8,800 a month.
The foundation found that in 2016, the typical monthly rent for renting a one or two bedroom was $2 million, but in 2018 that number was $3 million.
The median cost of a two, three or four bedroom apartment in those states is $3,000 a month, and in Florida it’s $5,200 a month on average.
The cost of rent in Florida rose by nearly 50% from $6,300 in 2016 and now stands at $9,400 a month — a 36% increase over five years.
In Florida, the trend is most pronounced for renters.
“People are being forced to pay the price of the housing crisis,” Stuegers said.
In Texas, the number of homeowners who have lost their homes since the financial crisis is nearly triple the number in 2000.
While many are homeowners, others are renters or have left the state altogether.
Stueg said there are fewer people moving to Florida in recent years because of the economy, rising housing costs and rising taxes.
“We need to get our feet under us before we lose our ability to compete,” Stenderg said.
But Stembergt said that a housing bubble is emerging in Florida and other parts of America.
“Florida is in the midst of a housing market crisis,” he said.