Know the cause of the increase between 30% and 65% in Miami rents
The areas with the highest increase in the rental market are Brickell, Downtown and Edgewater, presenting an increase between 30% and 65%, reported Bloomber Line.
We know that Miami is currently a large international city and has competition between markets and niches in the financial field. Although rents are increasing, they are scarce and difficult to obtain.
The average rent for a one-bedroom apartment in Brickell went from 2.100 in December 2020 to 3.283 in December 2021, meaning an increase of 56 percent. Just as the rent for a two-bedroom apartment in the same area rose from $2.870 to $4.750, representing an increase of 65 percent, according to the Zumper rental platform.
A resident of the center has had to move, since the owner of the place increased his rent by a thousand dollars: “It is as if we had had 3-4 years of growth in 18 months,” explained Rea, the tenant.
Rea also added that “My opinion on this is that yes, it is a problem, but I think that many private owners are taking advantage; it is definitely a price scam.”
Similarly, Virginia Latanzi, a former furniture market agent, stated that “The increase occurred from March to now. It is not normal. The only way not to raise the rent is if you have too good a landlord, because everyone is raising rents 30% to 40%, especially in Brickell.”
Miami Daily
Author: Natasha Palís 11:57 am