Rental cost in Miami increases due to the home office
The cost of rentals in Miami has increased by up to 65% because it is one of the cities chosen to do Homeoffice, reported Ámbito.
We have previously discussed the issue of the cost of rent in South Florida, where the owners of the apartments announced last December 2021 that the cost of the rent would increase up to the percentage mentioned, since one of the triggers has been the pandemic and the people looking for a Homeoffice in the city.
Telecommuting has changed the world, that is why Americans and residents have chosen to move to South Florida, since rental prices are cheaper than in cities like New York, Boston and California, that is why many of its inhabitants have migrated to the State Sunshine, thus allowing an opening and growth of the economy.
The president of the board of directors of the Association of Realtors of Miami, Jennifer Wollman expressed that “People began to arrive in droves. Our climate, our pro-business state, and our open spaces were very attractive to people coming from states where it was cold and confined.”
This has caused rental prices to skyrocket significantly, since they did not count on the arrival of new residents en masse.
According to a study published by Realtor.com last December 2021 “the Miami metropolitan area was the area of the United States where rents increased the most in the last year. The average rent in November stood at 2.800 dollars per month, 44% more than in the same month of 2020.”
The new owners of a building located in Hialeah, a city that is mostly populated by Cubans, told their tenants that now they must pay $1.650 a month or leave, when a couple of months ago the cost of rent was $1.000.
Likewise, The Hill published that according to “an index from the real estate portal RealtyHop places Hialeah as the fifth least affordable real estate market in the United States. According to their estimates, if a family with median income in the city wants to buy a home, they will have to spend 57,94% of the money earned each year to pay for the property.”
Author: Natasha Palís 1:14 pm