Affordability is the most pressing political issue in Miami. City and county officials continue approving
Now, yet another study confirms every 99-percenter's experience with Miami's apartment-rental market: It sucks eggs. Today, Forbes
According to Forbes (and roughly a million smaller studies that have been released
Making the crisis worse, Forbes found that Miami's median income ($45,738, according to the magazine) was the lowest of any city surveyed. In fact, no other major metro area on Forbes' 46-city list had a median income below $50,000.
Thus, Forbes has ceremoniously named Miami the "Worst City for Renters in 2017." Even the magazine seemed incredulous — Forbes even mentioned in its headline that Miami surprisingly topped Manhattan and San Francisco in terms of rental accessibility. But such is the state in which Miami finds itself.
According to the business mag, the average apartment "vacancy rate" around town was just 2.2 percent last year, which is astounding given
Forbes also laid into developers and elected officials for not concentrating enough on
Today's report echoes other recent studies about how difficult renting has become in the 305. Other reports have shown that single people can't afford rent here, that Miamians blow the highest percentage of their incomes on rent in America, and that even people with roommates struggle to pay rent.
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Despite these facts, Miami-Dade County is floating the idea to sell off public land (such as the property on which the main public library stands) to let developers build more random towers.
There is one important caveat here: Forbes looked at rent for apartments
But depending upon your position in life and income bracket, there's some good and/or terrible news regarding condos on the horizon: Developers have built so many (and local officials have OK'ed so many projects) that most real-estate analysts believe the local condo market is slated for a huge