South Florida’s 1st News With Andrew Colton

South Florida’s 1st News With Andrew Colton

You likely saw Andrew Colton reporting live from many of the major events that have shaped our world, including the Pentagon on 9/11, the crash of...Full Bio

 

Miami Hottest Rental Market for Start of 2024 - RentCafe

Rents In The U.S. Fall For Third Month In A Row

Photo: Joe Raedle / Getty Images News / Getty Images

Miami-Dade is reclaiming its title as the hottest apartment market in the U.S., with an unprecedented surge in demand, according to RentCafe.

RentCafe’s analysis of 139 markets finds Miami experiences a staggering 14 renters vying for each available unit which is twice the national average.

"Boasting an RCI score of 91.9, Miami reaffirms its position as the most competitive rental market in the U.S. at the start of the year due to its thriving economy, fueled by tourism, finance, technology and international trade." RentCafe reported. 

However, some argue that the term “occupancy” is misleading. According to one respondent, '"Just because people own an apartment, doesn’t mean there’s anyone living in it. A lot of the apartments in Miami are empty and just owned by investors."


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