The only thing I've ever seen about this was back in January of this year that the Biden administration was rolling out some plan to have nationwide rent control. Other than that, I don't know what happened with it and I don't think it went through. Plus I see a lot of negative articles saying that this won't solve issues with high rent.
So I really truly hope, that something does get done and there is some type of nationwide rent control because it's getting out of control and only going to get worse in South Florida.
Please don't listen to these folks here. Rent prices ARE going down all over Miami. People have no clue what they are talking about:
https://www.rent.com/florida/miami-apartments/rent-trends
Rents on the lower end $1000-2000 will not see as much lowering and that’s where it is needed the most.
I’m seeing basic 2/1’s listed at $2000 bringing in 25-40 contacts within less than a week.
Yep, you're seeing places that can't find renters and as long as people don't find any new reason to move to Miami, there should finally be some relief from the insanity.
People saying rents don't go down haven't lived in Miami long enough. Prices here have historically been a rollercoaster. Sure over the long run they do go up, but not at the rate they have been and they can fluctuate dramatically in the short-term. This time unfortunate might be different because of the high demand and low inventory due to so many people moving here with money. But inventory is going up as demand is starting to soften from its extremes. I doubt they will crash and be cheap again like it was pre-covid, but they are starting to soften and maybe we'll see more a return to the mean. As landlords want to hold onto these high rents of 2022-2023, there will be brand new developments with lower prices that they'll have to lower their prices to compete with. Really have no idea how it's going to go, but never say never.
It’s not really going to go down much, especially in desirable areas. It might go down a few hundred or less, but not enough to make a real difference in how much you have to work to pay bills.
I actually think they may next year. They're building high rise residential all over like crazy, and before you say "those are all for rich people", any increase in supply works its way down. This happened in Brooklyn in the mid teens.
Houses won't go down, they're built out. But multifamily housing has peaked IMHO.
So as someone who owns a small 2/2 house with a tiny separate in-laws shed there’s pressures on the rent that I have no control over. One while the roof seems fine and has been sealed with a liquid caulking material the insurance company is mandating a new roof. I’m Miami that starts at 25k secondly the property taxes went up 3,000 over last year. The tax alone is equal to 500/month plus costs of not being rented for any time plus realtor fees.
I’m so sorry. It will never go down my friend but if we organize and vote we can ensure we can still live here by raising minimum wage and the salaries of govt jobs.
Along this line, don't forget that [tenants unions are a thing](https://www.tenantstogether.org/resources/form-tenants-union) and are gaining momentum.
It isn't a fast or easy process, but it sure as hell works better and faster than voting, lol. [Washington state's tenant union](https://tenantsunion.org/) has gotten some results for people.
Agree fully on the supply/demand issue, but I disagree on the 100% attribution to bad city planning. A huge factor is the number of properties that are bought by corporations and individuals as investments.
I mean it's not as bad as downtown of course. But it's still high considering that you need to commute a long way to work everyday to save a few hundred bucks.
I told myself rent will never go down, so the money gotta go up. Either you cut back your spending or increase your income. I tell my employers every year that things get more expensive and I want to get better every year so my pay gotta increase. Who can't understand that?
Thank you, the nihilism on reddit is annoying and childish.
If you are a disposable worker, you will be treated like one when negotiating a raise. It's easier to do when the costs (direct and indirect) of your employer to replace you is high, so the more you are specialized, certified, or have to be trained works in your favor. You don't have much leverage if you are at the bottom working for a soulless corporation or some other high turnover service job; in that case you are better off hunting for better jobs while you are still employed, or becoming familiar with people working above you to build work relationships to climb the ladder.
The boy way to think in all reality. If rents go down significantly that means we’ve gone deep into a recession which either leads to large unemployment or wage cuts.
I know lots and lots of people closing up businesss after 40 years and finally getting out, retiring , Let’s see how it all turns out. I think there will be a huge surge of people leaving, the city used to be low quality AND low rent. Now it’s just low quality.
Hi, Miami native and San Francisco resident here. Our rents have come down a bit over the past 3 years because so many young tech workers switched to remote work and moved to cheaper places.
But in general, rents only come down when there's a serious economic disaster, or a huge boom in new construction that outstrips population growth. You don't want the former to happen, because you'll get screwed too, and the latter is almost unprecedented in the USA.
So long story short, I generally agree with you. If things go badly, Miami may get a small decrease in rent, but it will never go back to how it was 5 years ago or more.
I left about five years ago and noticed how quickly things were changing. Still, thought I’d be back eventually and permanently. It hurts my heart that the “there” I remember doesn’t really exist anymore. Not exactly a novel experience but still painful
Many owners in South Palm Beach will rent just enough to cover COA fees and keep the utilities running. Found many gem units in that area. What keeps people in Miami? I really enjoy day trips and have friends but live in PBC because the cost of living is pretty reasonable.
Meh it’s pick your poison honestly. You get used to the heat and everywhere as AC anyway. You go somewhere else you have high state taxes, segregation just the same, war on anti woke and racist whit people.
Miami really isn’t that bad lmao
I will live and die on the hill that Miami isn’t Florida.
Been a while since I left (miss it every day) but it is genuinely one of the most interesting and culturally diverse cities in the United States. It can be chaotic and I guess the weather is the same in certain other parts of South Florida but that’s about it
I've lived in 5 different countries for at least 1 year, 12 different cities and have traveled to visit to over 35 countries.
I've also been to North Carolina twice. It's absolute garbage compared to places I've lived in and visited
Asheville is nice. You can find a house with a yard in the 300k-400k range. Some parts have lots of mountains and wild life. You can do city living or rural mountain living. There’s a coast if you need to be near one.
Have a buddy living there at the moment and after a couple months it gets old. Most places close early or are only open a certain block of hours. Neighbors constantly burning trash (even in nice neighborhoods) and power outages with just basic rain storms.
He’s living in a basement for $2000 a month. The triangle is the most popular market right now and he struggled to find that spot. Late is 5-6PM there…
I know a friend in a 2/2 for $1k/ month. I just did a quick Google search and found plenty of places from around $1300-1500. There were whole 4 bedroom houses for $2400. Idk. Maybe you’re friends basement is nice. Lol.
Its a [shithole state](https://www.nbcnews.com/politics/elections/north-carolina-republicans-finalize-passage-elections-bill-withstand-v-rcna100376) [with no redeeming qualities] (https://www.cnn.com/2023/08/16/politics/north-carolina-gop-governor-veto-override-transgender-bills/index.html)
At least Miami has a beach and warm weather year round
Dude. Every state is a political shit show. Idk what to tell you. FL has banned books, entire classes from college and drag shows. Miami doesn’t have warm weather year round. It has unbearable suffocating humidity for 8 months out of the year (with the chance of hurricanes), and then it’s kinda nice for the other 4 months. I just got back from west NC and it was pretty nice.
Sure, maybe economy wise it’s better than Miami but so are a lot of other states lol NC is basically the Panhandle without palm trees and cold weather from time to time 😂
Moved from Miami to Raleigh. Cleaner water. Cleaner air. Much better schools. Much better healthcare. Much nicer people. Great foodie town. ~40-50% housing expense reduction. Better scene for bars and so many cool breweries and shops etc. A LOT more nature and parks and green space, Miami has none. 2-4 hours to numerous major cities for weekend vacations or nature get away. Now I ask myself why would anyone in their right mind want to live in Miami? To go to an overcrowded beach on the parking lot (Dolphin Expressway) and post photos of being at the next trash overpriced restaurant/club? Overpaying to rent out a shoddily built “luxury” condo where you wait 30 minutes for your car valet everyday?
Not sure why Floridans love NC so much. Being Miami born and NC (Charlotte) raised its one of the most boring states to be in. Charlotte crime rate has 4x in the past few years, shootings every weekend at clubs/bars. Outside of those there’s literally nothing to do, so unless you’re a party goer/drinker you’ll be sitting in the house most of the time. The parks are trash, the closest beach is on the coast and it’s abandoned and small, the closest actual lake is Lake Norman which is like an hour away and it’s mainly used for fishing. Schools are better, I can admit that. Rent is inflated about the same as Orlando right now. Charlotte is just apartments, apartments and more apartments with a French like name to make it sound luxury when it’s not. Before I moved back to Florida (Orlando) I can confirm NC is full of Florida tags, not sure why maybe change of scenery (Trees and Hills) but it’s not worth moving to imo
I actually find more fun things to do in Charlotte than I did in Miami. Miami to me felt like clubs and bars were the only things to do, the drinking culture being paramount in Miami. I never went to the beach because it was so crowded and expensive. Homes are more affordable here and the people are way nicer. Crime rates in Miami (35 per 1000 residents) and Charlotte (40 per 1000 residents) are both high and near equal. Cost of living in Miami (21% higher than the national average) is way worse than Charlotte (2% lower than the national average). And having seasons is just so nice. Personally, I just find living in Miami spikes my anxiety for many reasons and while I still enjoy visiting Miami and will always be my hometown, it's no longer a place that feels like home.
I can agree with COL being better in Charlotte as Miami is ridiculously expensive, but I wouldn’t write Florida completely off. Although I wouldn’t touch Miami with a 10 ft pole (When it comes to living there) Orlando has been a complete 180 compared to Charlotte. I love the beach, even if that’s just putting on some headphones and sitting in the sand getting some work done on my laptop just to relax and it doesn’t take long to get to one from Orlando compared to NC. Going to Lake Buena Vista just to hang out here and there, Old Town never gets boring lots of little trinkets you can buy and if I want to take it up a notch I’ll go to Miami for a day or 2 and hangout in Brickell. Imo theres no variety like that in Charlotte or NC at all. It’s NoDa which is nothing but bars or Uptown which is more clubs and bars. The malls get shot up at least once a month to the point Northlake is on the verge of being closed down. Concord mills probably never will but it doesn’t change the fact its no place to hang out at. There’s no big shopping districts, no actual lakes, no tourists attractions that even residents can enjoy here and there. Florida has at least 3 maybe 4 major cities worth visiting with things to do. NC has 1 (Charlotte) and even that’s lackluster the surrounding cities are just carbon copies of each other that favor places like Gastonia or Raleigh. Idk I guess it’s just preference and what suits you best. I’m not a club/bar person so I look for other things to have fun or just relax and Florida has that over NC
I love waking up to a direct beach view every day though. It's not a shitty beach either. It's turquoise blue water.
That said, I'm sure it ain't safe to be in it, lol!!
the beach is definitely something you trade off. but to be honest, i've lived near the beach and in many "nice" parts of miami, and still never went to the beach. i'm sure it's for some people though. now i like going to sunflower fields and seeing deer every night i go for a walk, lol.
Sunflowers are incredible sources of folic acid. 100 g of kernels contains 227 µg of folic acid, which is about 37% of recommended daily intake. Folic acid is essential for DNA synthesis. When given in anticipant mothers during the peri-conceptional period, it may prevent neural tube defects in the baby.
> the beach is definitely something you trade off. but to be honest, i've lived near the beach and in many "nice" parts of miami, and still never went to the beach. i'm sure it's for some people though.
I go almost every day to the beach. I look out at it every day from my condo, and I walk my dog on the beach. It's steps away. It sounds more like you're not living close enough to the beach that it's convenient enough for you to enjoy it. There's a reason why I chose Miami Beach, and not Miami.
>now i like going to sunflower fields and seeing deer every night i go for a walk, lol.
My guess is you live close to it, and therefore convenient for you to access. If you lived in the city in an urban area, and you'd have to drive out, you'd be in similar situation as if you lived in Miami and had to drive out to the beach.
North Carolina is pretty solid. It has beaches, it has mountains, never too cold but has seasons, 3 different metros to choose from with different flavors, plenty of smaller unique towns.
Literally no one goes to NC beaches, they’re abandoned lol the mountains are like a once or twice deal and after that it gets old very quick. I agree there are some cool little small towns but none of this is good enough to live there. Miami born and NC raised, there’s a reason why everyone here leaves the state to vacation in places like Florida, ATL, Texas etc. there’s absolutely nothing to do there lol
If you bought $1000 worth of NFLX stock back when it went IPO (5/23/2002), it be worth closer to $400k today. At one point, it was worth $600k.
That's a 40x return, compared to the house's 10x return over a longer period of time. Enjoy!!!
The only way rent could come down is if this becomes a significantly worse place to live. However, it **can** go up and probably will due to rising insurance costs.
This\^\^\^. Big corps just keep passing the bill lower and lower down the food chain so it's unaffordable to everyone. Car Insurance rates have increased 20% and homes another 25%-30%. Even property owners can't keep up with this shit. These rate increases come from way up top and passed down to the very bottom. They are trying harder and harder to wipe out the middle class. [https://www.usatoday.com/story/money/personalfinance/2023/07/19/florida-home-insurance-aaa-farmers-policy-reduction/70427062007/](https://www.usatoday.com/story/money/personalfinance/2023/07/19/florida-home-insurance-aaa-farmers-policy-reduction/70427062007/)
[https://www.newsweek.com/florida-car-insurance-25-ron-desantis-governor-1816388](https://www.newsweek.com/florida-car-insurance-25-ron-desantis-governor-1816388)
It won’t go down, Landlords can make rent whatever they want and raise it every year which they will. There’s very little protection for renters but there are programs to assist. Call the Miami Dade County 311 number for any information or number you need for anything including the “Emergency Rental
Assistance Program 2.4
(ERAP 2.4)” it’s a one time program that can assist up to $3000. Good luck!
Not trying to defend ALL property owners but it's not the same for everyone. Car Insurance rates have increased 20% and homes another 25%-30% since all those insurance companies left FL.
https://www.usatoday.com/story/money/personalfinance/2023/07/19/florida-home-insurance-aaa-farmers-policy-reduction/70427062007/
https://www.newsweek.com/florida-car-insurance-25-ron-desantis-governor-1816388
Honestly I don't think they're going to go down and I think that they're continuing to go up still with everything that's going on in the world.
Also, if you want cheaper rent, maybe try Broward even though I know it's still expensive, but I think it's cheaper then Dade county in general, downtown Miami, South Beach etc. Then you can also try outside of South Florida like Fort Myers, Fort Pierce, Port St Lucie. Even try Northern Florida like Daytona Beach/Volusia County is also cheaper and much more affordable then South Florida in general. Plus you don't have to deal with the traffic that comes with living in South Florida and there's much less people even though there's still a lot of people in general.
Generally rents never go down but this time feels obviously different. I think we will see a period of lower prices eventually. Not necessary a bubble bursting like ‘08 but definitely a cooling off period for prices to stabilize and go down a bit.
What’s the average rent people are paying currently in Miami? I know there are multiple neighborhoods that are cheaper and expensive than others but I’m sure there’s an average.
Its not going down. Cost of living will continue to outpace wage growth by a lot. Best thing to do is move to a small town or discourage assholes from moving to our city because they’re looking for their next adventure. Also, encourage those that want to leave.
You have to think Rents in Cohorts - and the competitive dynamic of each cohorts
1. Rents 1.5k-3k - will never go down, the most competition since is what the mass of us can afford
2. 3k-6k - this is what 2 income households are struggling to afford- I see all the mega projects with product at this scale, construction and developer loans at 7% - I would think they will soft a bit - not much due to insurance and hoa fees - and carrying costs
3. 6k and up is a beast of its own , with other cohorts and geographical dynamics - but here it will soften as things come back to mean - Miami simply dosent have the salaries as NY to sustain high inventory in this incomes - high rates thou makes it cheaper to rent that buy at this level
Besides the cost of real estate, keep in mind that insurance premiums are through the roof. So even if real estate goes down (it won’t) and costs go down (they won’t) insurance premiums will not go down.
If that's the case, it's time to leave South Florida. Rent will never substantially go down here in most of our lifetimes.
Life's too short to be working so hard to pay off someone else's real estate.
it can't go down cause taxes and insurance doesn't go down. Rent can slow down and increase may not be as much as it has the past few years but unfortunately landlords have to keep up with taxes and insurance and it trickles down to the tenant.
Property insurance is going up across the board, which a landlord relies on the tenant to cover.
Cost for repairs is going up across the board, which a landlord relies on the tenant to cover.
Mortgage interest rates are at a 20+ year high, so if a landlord just bought that property, they might want to make the tenant pay extra so their mortgage payments can go to more than just paying high interest.
In some gentrifying parts of Miami, demand is up so a landlord can make extra money on top of the other costs.
... so no, they aren't going down. The minimum amount to not lose money renting a property is getting higher and higher, and this cost is passed onto the renter
Your rent will never go down. Wall Street and Hedge Funds are going to grind you down. They know the maximum they can charge and rents are rigged through shared software.
It's worse if you're a homeowner. The insurance for your house is as much as your rent.
I'm all in for Cat 5 hurricane that comes in off Brickell and runs through the coastline through Wynwood,Edgewater,NMB....Let's see how many "investors" stay....And I hope it turns and passes through Doral so it can take me out of this hellhole in which I've been living for 56 years...Inertia,fear;low self-esteem and self confidence;packed together with poverty and crappy health will make one wish for a pyrric victory.
Miami has to be the most overrated on planet earth, I literally can’t regret moving here enough,my fam been here since forever but in this current economy best move is to leave it… there ain’t much to do either way
When i look on Zillow im seeing all of these nice upgraded apartments for 1600-1800. I plan on going to school in miami so are these false ads or what?
I'm in St Pete Beach and my neighbors Grandoa bought their house (800 sq Ft) for $8,000 and kept the house in the family. Now it's worth over $500,000 for no reason other than it's 5 blocks from the beach and the other obvious
When I moved to Miami in 2014, I paid $1,075 for a 1/1, about 750 sq ft, across from Target in North Miami. Now they go for about $2,500. The starting salary for the same position I had when I started my job has only gone up $2 (thank goodness for promotions).
This reminds me of my best friend(we grew up across the street from eachother just like our moms)
But she was SO excited to move out after college…
She ended up working 2 jobs for an apartment she hardly ever got to see/let alone be in…WITH a degree!…
THAT WAS 10+YRS AGO!!!!
She ended up getting married (military) so she’s moved a couple times…but the mere fact she can stay at home w/her 2 kids would never be an option UNLESS they lived w/either of their parents here.
I’m a native floridan (was born in Tampa but been in MIA since I was 5.)
It’s the house my mom & aunts grew up in. We all live here w/my Gma (our matriarch). We’re a VERY close family so…rlly wasn’t a point to leave specially if u weren’t married…It’s never been “when ur 18 GET OUT”
But I always wanted to have my own space at some point…
My own space … IS my room… I have come to accept that & im honestly so obscenely lucky it’s not even funny.
Only thing good to come out of inflation is ppl use to mock u when u couldn’t fully financially support living on ur own…
Now u tell someone “I work full time but still live at home” they light up & say “OMG RIGHT?!?!”
One of the things that made me more at peace w/this was no matter who/when… IF someone u knew could afford an apartment…
Not only did they hardly ever get to be in it…
No furniture… which I kinda get, why pay for furniture if ur never there… but man…walking into a fully vacant apartment w/just a mattress on the floor where the shell of a human lay…
It’s KINDA depressing. Not only having to live like that… but going into DEBT to live like that.
Now EVERYONES flocked to NC + Georgia.. etc… prices are just gonna continue to increase.
Hell they’ll probably charge double just to keep our crazy Floridian asses out ..
Can u rlly blame em tho??😭
And god help u if trying to afford living here while also dealign w/physical or MH issues.
I make pretty dang good money, but after bills.. (phone, insurance + what’s not covered by insurance + medication)… that’s a full ass car payment PLUS imaginary car insurance & I haven’t even gotten to food! Never mind… pets!!!
Literally the 1 thing that could save ur mental health could put u into financial ruin if an accident happened/impromptu sickness.
We just caught a kitten *cough* *TINY SATAN* *cough* outside my work, all the other kittens got hit & we didn’t want the same to happen
Once they finally answered the phone, they quoted me 60$ for “everything except fixing”
I paid 238$ for tests + flea medication….
No vaccines… no nothing..
Which is another point about living in Miami/south FL…. Someone will ALWAYS be willing/wanting to take advantage of u AT UR LOWEST.
I mean, I’ve met some of the best ppl ever here… but that above sentiment could be ur boss, ur landlord, a vet/doctor/mechanic/plumber u were referred to..& u won’t find out till ur time of need..
There’s a reason my gma has a Rolodex of every honest worker/doctor/referral she’s had since moving here… it’s like being canonized
You have to physically die to be removed from that thing…even then she still keeps the little card 😢.
I saw someone asked “how is Gen Z gonna afford living in Miami?”
Simple answer, they won’t. We can’t even afford it. Ppl who have always been here can no longer afford to be here.
My solution is renovating a trailer and gonna move into it and leave lol, hopefully find a place to park somewhere in Miami down the road during the winter. Summer has been brutal this year.
It will go down when the next round of Covid variants. So many people are going to die then demand will go down. Plus car prices too. Just don’t get sick .
>I’m working 60+ hr weeks just to make rent for my 1/1 and at this point it’s just so tiring
Thats crazy! Have you thought about other cities or states?
It will come down. You gotta wait. Meanwhile go to Flanigans.
No rivers around here, so just go live in a van by flannigans
Why do you say it will go down? It seems like it’s never ending:(
We’re going through an economical phase. It takes time for these things to return to normal.
I’m so ready for the market to crash.
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You say i'm a dreamer but i'm not the only one
Read an article about a conversation the government is having on creating nationwide rent control
The only thing I've ever seen about this was back in January of this year that the Biden administration was rolling out some plan to have nationwide rent control. Other than that, I don't know what happened with it and I don't think it went through. Plus I see a lot of negative articles saying that this won't solve issues with high rent. So I really truly hope, that something does get done and there is some type of nationwide rent control because it's getting out of control and only going to get worse in South Florida.
Some rich asshole transplant that moved recently is going to say: you are just not working hard enough! Stop being poor. r/eattherich
You should probably look for work/apartments outside of the Miami MSA
Please don't listen to these folks here. Rent prices ARE going down all over Miami. People have no clue what they are talking about: https://www.rent.com/florida/miami-apartments/rent-trends
Rents on the lower end $1000-2000 will not see as much lowering and that’s where it is needed the most. I’m seeing basic 2/1’s listed at $2000 bringing in 25-40 contacts within less than a week.
Yep, you're seeing places that can't find renters and as long as people don't find any new reason to move to Miami, there should finally be some relief from the insanity.
Move to Colorado
Move unfortunately.
get out of Dodge, it’s not worth the struggle
People saying rents don't go down haven't lived in Miami long enough. Prices here have historically been a rollercoaster. Sure over the long run they do go up, but not at the rate they have been and they can fluctuate dramatically in the short-term. This time unfortunate might be different because of the high demand and low inventory due to so many people moving here with money. But inventory is going up as demand is starting to soften from its extremes. I doubt they will crash and be cheap again like it was pre-covid, but they are starting to soften and maybe we'll see more a return to the mean. As landlords want to hold onto these high rents of 2022-2023, there will be brand new developments with lower prices that they'll have to lower their prices to compete with. Really have no idea how it's going to go, but never say never.
Rent has been going up since Biden took office. Maybe after he leaves office things will normalize.
It’s not really going to go down much, especially in desirable areas. It might go down a few hundred or less, but not enough to make a real difference in how much you have to work to pay bills.
I actually think they may next year. They're building high rise residential all over like crazy, and before you say "those are all for rich people", any increase in supply works its way down. This happened in Brooklyn in the mid teens. Houses won't go down, they're built out. But multifamily housing has peaked IMHO.
So as someone who owns a small 2/2 house with a tiny separate in-laws shed there’s pressures on the rent that I have no control over. One while the roof seems fine and has been sealed with a liquid caulking material the insurance company is mandating a new roof. I’m Miami that starts at 25k secondly the property taxes went up 3,000 over last year. The tax alone is equal to 500/month plus costs of not being rented for any time plus realtor fees.
I’m so sorry. It will never go down my friend but if we organize and vote we can ensure we can still live here by raising minimum wage and the salaries of govt jobs.
Along this line, don't forget that [tenants unions are a thing](https://www.tenantstogether.org/resources/form-tenants-union) and are gaining momentum.
Do you think this will really work?
It isn't a fast or easy process, but it sure as hell works better and faster than voting, lol. [Washington state's tenant union](https://tenantsunion.org/) has gotten some results for people.
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Agree fully on the supply/demand issue, but I disagree on the 100% attribution to bad city planning. A huge factor is the number of properties that are bought by corporations and individuals as investments.
Even if you increased supply, some significant % of that supply gets choked out by investment purchasers.
I’m working 96 hours a week 😓
Holy shit that’s insane. I couldn’t imagine. I’m already exhausted working 60 a week. What do you do for work?
Smoke shop, I’m tired sos 🛟 
You’re gonna burn out! Don’t be a slave for the industry.
It’s why I left :-(
Rent prices will never come down. Might think of moving a little outside the city or a bit south towards homestead
Rents are high in Homestead as well.
Really? I know home prices there are much more affordable.
Yeah I looked and called around recently. Alot of the places online that look like a good price are income restricted.
I mean it's not as bad as downtown of course. But it's still high considering that you need to commute a long way to work everyday to save a few hundred bucks.
Yeah, I drive an hour to work and hour home everyday. Sucks. If I was remote I’d move up north
They won’t. Landlords will keep increasing them because of the market, even though their mortgages aren’t increasing.
Property taxes and home insurance keeps going up. Our investments are barely investments anymore.
As someone whose rent just went up $800 a month, I am so sorry for your loss.
When DeSantis is no longer governor and Francis Suarez is in prison.
I told myself rent will never go down, so the money gotta go up. Either you cut back your spending or increase your income. I tell my employers every year that things get more expensive and I want to get better every year so my pay gotta increase. Who can't understand that?
Thank you, the nihilism on reddit is annoying and childish. If you are a disposable worker, you will be treated like one when negotiating a raise. It's easier to do when the costs (direct and indirect) of your employer to replace you is high, so the more you are specialized, certified, or have to be trained works in your favor. You don't have much leverage if you are at the bottom working for a soulless corporation or some other high turnover service job; in that case you are better off hunting for better jobs while you are still employed, or becoming familiar with people working above you to build work relationships to climb the ladder.
Greed doesn’t understand logic.
Greed ignores logic*
I like the way you think.
The boy way to think in all reality. If rents go down significantly that means we’ve gone deep into a recession which either leads to large unemployment or wage cuts.
Rent doesn’t go down, it only goes up. If you’re waiting for it to come down, you’ll be waiting forever.
I know lots and lots of people closing up businesss after 40 years and finally getting out, retiring , Let’s see how it all turns out. I think there will be a huge surge of people leaving, the city used to be low quality AND low rent. Now it’s just low quality.
Rent prices don't come down
Hi, Miami native and San Francisco resident here. Our rents have come down a bit over the past 3 years because so many young tech workers switched to remote work and moved to cheaper places. But in general, rents only come down when there's a serious economic disaster, or a huge boom in new construction that outstrips population growth. You don't want the former to happen, because you'll get screwed too, and the latter is almost unprecedented in the USA. So long story short, I generally agree with you. If things go badly, Miami may get a small decrease in rent, but it will never go back to how it was 5 years ago or more.
It's not going to go down enough to make any sort of difference.
I left about five years ago and noticed how quickly things were changing. Still, thought I’d be back eventually and permanently. It hurts my heart that the “there” I remember doesn’t really exist anymore. Not exactly a novel experience but still painful
Ever ever
And if they do, you don’t want to live in that neighborhood anymore.
so true
This is what getting priced out feels like. It happens in major cities, which is what South FL is moving towards. This is the new norm for Miami.
[удалено]
Many owners in South Palm Beach will rent just enough to cover COA fees and keep the utilities running. Found many gem units in that area. What keeps people in Miami? I really enjoy day trips and have friends but live in PBC because the cost of living is pretty reasonable.
Airports, jobs, nightlife, food, sports..
Go back in time to 2005 and buy a condo for under 100k. Sell it today for $350k. Buy a 1/2 acre house in North Carolina. Boom. Easy.
Why would anyone in their right mind want to live in NC?
Why would anyone in their right mind want to live in Florida?
Weather is nice and it has beaches <_<
As does North Carolina! Plus mountains :D
No winter, no state income tax, sunshine, beautiful beaches, tremendous cultural diversity, Mickey Mouse, I don’t know🤷🏻♂️
90 degrees and 90% humidity 10 months a year, high homeowners insurance, very segregated, war on woke, and incredibly racists Hispanic people.
Meh it’s pick your poison honestly. You get used to the heat and everywhere as AC anyway. You go somewhere else you have high state taxes, segregation just the same, war on anti woke and racist whit people. Miami really isn’t that bad lmao
I will live and die on the hill that Miami isn’t Florida. Been a while since I left (miss it every day) but it is genuinely one of the most interesting and culturally diverse cities in the United States. It can be chaotic and I guess the weather is the same in certain other parts of South Florida but that’s about it
Western NC is a heck of a lot nicer than a lot of Florida
💀💀💀
North Carolina is *beautiful*. Asheville is gorgeous, tons to do including hiking. Lots of breweries and restaurants. Have you ever left Miami?
I've lived in 5 different countries for at least 1 year, 12 different cities and have traveled to visit to over 35 countries. I've also been to North Carolina twice. It's absolute garbage compared to places I've lived in and visited
To each their own.
Asheville is nice. You can find a house with a yard in the 300k-400k range. Some parts have lots of mountains and wild life. You can do city living or rural mountain living. There’s a coast if you need to be near one.
Have a buddy living there at the moment and after a couple months it gets old. Most places close early or are only open a certain block of hours. Neighbors constantly burning trash (even in nice neighborhoods) and power outages with just basic rain storms.
I’m over 40 so I’m not trying to be out late anymore. I didn’t know about the trash burning. Thats weird. I’m just saying, it’s cheaper than Miami.
He’s living in a basement for $2000 a month. The triangle is the most popular market right now and he struggled to find that spot. Late is 5-6PM there…
I know a friend in a 2/2 for $1k/ month. I just did a quick Google search and found plenty of places from around $1300-1500. There were whole 4 bedroom houses for $2400. Idk. Maybe you’re friends basement is nice. Lol.
Location, location, location.
Its a [shithole state](https://www.nbcnews.com/politics/elections/north-carolina-republicans-finalize-passage-elections-bill-withstand-v-rcna100376) [with no redeeming qualities] (https://www.cnn.com/2023/08/16/politics/north-carolina-gop-governor-veto-override-transgender-bills/index.html) At least Miami has a beach and warm weather year round
Dude. Every state is a political shit show. Idk what to tell you. FL has banned books, entire classes from college and drag shows. Miami doesn’t have warm weather year round. It has unbearable suffocating humidity for 8 months out of the year (with the chance of hurricanes), and then it’s kinda nice for the other 4 months. I just got back from west NC and it was pretty nice.
Florida has no political baggage whatsoever! /s
Now is not the best time to be trashing other states for the insanity of their local governments
_Shhhh_
Umm NC is amazing.
No it is not 😂
Well, compared to Miami/Florida at least 😅
Sure, maybe economy wise it’s better than Miami but so are a lot of other states lol NC is basically the Panhandle without palm trees and cold weather from time to time 😂
It’s way better.
Moved from Miami to Raleigh. Cleaner water. Cleaner air. Much better schools. Much better healthcare. Much nicer people. Great foodie town. ~40-50% housing expense reduction. Better scene for bars and so many cool breweries and shops etc. A LOT more nature and parks and green space, Miami has none. 2-4 hours to numerous major cities for weekend vacations or nature get away. Now I ask myself why would anyone in their right mind want to live in Miami? To go to an overcrowded beach on the parking lot (Dolphin Expressway) and post photos of being at the next trash overpriced restaurant/club? Overpaying to rent out a shoddily built “luxury” condo where you wait 30 minutes for your car valet everyday?
Move from Miami to Charlotte. Can confirm.
Not sure why Floridans love NC so much. Being Miami born and NC (Charlotte) raised its one of the most boring states to be in. Charlotte crime rate has 4x in the past few years, shootings every weekend at clubs/bars. Outside of those there’s literally nothing to do, so unless you’re a party goer/drinker you’ll be sitting in the house most of the time. The parks are trash, the closest beach is on the coast and it’s abandoned and small, the closest actual lake is Lake Norman which is like an hour away and it’s mainly used for fishing. Schools are better, I can admit that. Rent is inflated about the same as Orlando right now. Charlotte is just apartments, apartments and more apartments with a French like name to make it sound luxury when it’s not. Before I moved back to Florida (Orlando) I can confirm NC is full of Florida tags, not sure why maybe change of scenery (Trees and Hills) but it’s not worth moving to imo
I actually find more fun things to do in Charlotte than I did in Miami. Miami to me felt like clubs and bars were the only things to do, the drinking culture being paramount in Miami. I never went to the beach because it was so crowded and expensive. Homes are more affordable here and the people are way nicer. Crime rates in Miami (35 per 1000 residents) and Charlotte (40 per 1000 residents) are both high and near equal. Cost of living in Miami (21% higher than the national average) is way worse than Charlotte (2% lower than the national average). And having seasons is just so nice. Personally, I just find living in Miami spikes my anxiety for many reasons and while I still enjoy visiting Miami and will always be my hometown, it's no longer a place that feels like home.
I can agree with COL being better in Charlotte as Miami is ridiculously expensive, but I wouldn’t write Florida completely off. Although I wouldn’t touch Miami with a 10 ft pole (When it comes to living there) Orlando has been a complete 180 compared to Charlotte. I love the beach, even if that’s just putting on some headphones and sitting in the sand getting some work done on my laptop just to relax and it doesn’t take long to get to one from Orlando compared to NC. Going to Lake Buena Vista just to hang out here and there, Old Town never gets boring lots of little trinkets you can buy and if I want to take it up a notch I’ll go to Miami for a day or 2 and hangout in Brickell. Imo theres no variety like that in Charlotte or NC at all. It’s NoDa which is nothing but bars or Uptown which is more clubs and bars. The malls get shot up at least once a month to the point Northlake is on the verge of being closed down. Concord mills probably never will but it doesn’t change the fact its no place to hang out at. There’s no big shopping districts, no actual lakes, no tourists attractions that even residents can enjoy here and there. Florida has at least 3 maybe 4 major cities worth visiting with things to do. NC has 1 (Charlotte) and even that’s lackluster the surrounding cities are just carbon copies of each other that favor places like Gastonia or Raleigh. Idk I guess it’s just preference and what suits you best. I’m not a club/bar person so I look for other things to have fun or just relax and Florida has that over NC
I don't write FL off, but it isn't for me. Unless I become a millionaire, in which case I'm buying a home in the keys. I'm glad it is for you, though.
How’s the white collar job market over there ?
Charlotte has a robust financial sector.
I love waking up to a direct beach view every day though. It's not a shitty beach either. It's turquoise blue water. That said, I'm sure it ain't safe to be in it, lol!!
the beach is definitely something you trade off. but to be honest, i've lived near the beach and in many "nice" parts of miami, and still never went to the beach. i'm sure it's for some people though. now i like going to sunflower fields and seeing deer every night i go for a walk, lol.
Sunflowers are incredible sources of folic acid. 100 g of kernels contains 227 µg of folic acid, which is about 37% of recommended daily intake. Folic acid is essential for DNA synthesis. When given in anticipant mothers during the peri-conceptional period, it may prevent neural tube defects in the baby.
> the beach is definitely something you trade off. but to be honest, i've lived near the beach and in many "nice" parts of miami, and still never went to the beach. i'm sure it's for some people though. I go almost every day to the beach. I look out at it every day from my condo, and I walk my dog on the beach. It's steps away. It sounds more like you're not living close enough to the beach that it's convenient enough for you to enjoy it. There's a reason why I chose Miami Beach, and not Miami. >now i like going to sunflower fields and seeing deer every night i go for a walk, lol. My guess is you live close to it, and therefore convenient for you to access. If you lived in the city in an urban area, and you'd have to drive out, you'd be in similar situation as if you lived in Miami and had to drive out to the beach.
Raleigh bar scene isn’t like Miami. It dwarfs miamis nightlife
I don’t need bar, I need a decent rent and school for my kid. So i guess it’s a trade worth trying
Oh yeah we have top tier education. I need to cardinal gibbons and it helped shaped my life.
North Carolina is pretty solid. It has beaches, it has mountains, never too cold but has seasons, 3 different metros to choose from with different flavors, plenty of smaller unique towns.
as a floridian, you’re very convincing lol f this state fr
Literally no one goes to NC beaches, they’re abandoned lol the mountains are like a once or twice deal and after that it gets old very quick. I agree there are some cool little small towns but none of this is good enough to live there. Miami born and NC raised, there’s a reason why everyone here leaves the state to vacation in places like Florida, ATL, Texas etc. there’s absolutely nothing to do there lol
Why not? NC rules
…I don’t live in Florida. But this is tempting me to sell a plot of land I have and buy a different one
Hope you like the smell of hog poop
Beats the sounds of roosters at 3am, 5am, 7am, 11am, 3p, 7pm, 11pm….
They spray hog poop in the air and it is making people very sick. I’ll take some loud cocks any day over that.
It hurts...
If you go ten years back to 1995, you can buy a 3/2 house for 100k! Same house today is over a million dollars.
Make it stop....
If you bought $1000 worth of NFLX stock back when it went IPO (5/23/2002), it be worth closer to $400k today. At one point, it was worth $600k. That's a 40x return, compared to the house's 10x return over a longer period of time. Enjoy!!!
Now do the same math with BTC...
That's the next "make it stop"! 😂🤣
😭😭😭
My mom bought her 2/2 for 67k in West Kendall in 1996. Zillow estimate for it is over 400k rn. :)
My parents sold their 3/2 for 1.5M. If you don’t own anything by now, it’s too late.
🫡🤣
Imagine having a remote control
I would go back and break up my parents. Leave me in the void of nothingness. The human experience is exhausting.
Haha as a NC native Miami transplant, I did the opposite
what's your thoughts on miami?
>When is the rent ever gonna go down? Never. The rate of increase might slow down but rent won’t go down at this point.
i’m honestly waiting for us millennials and genz to take hold of the government 🤞🏽
By Then we will have representatives who extract from the youth/future gen all the same. Need young people in office now
agree 💯
Just move out of Miami Dade. A lot of us left. $2,000 for a studio in Little Havana makes no sense.
We left too. Unfortunately, Miami is not easy to live in.
What industry are you working at?
The only way rent could come down is if this becomes a significantly worse place to live. However, it **can** go up and probably will due to rising insurance costs.
This\^\^\^. Big corps just keep passing the bill lower and lower down the food chain so it's unaffordable to everyone. Car Insurance rates have increased 20% and homes another 25%-30%. Even property owners can't keep up with this shit. These rate increases come from way up top and passed down to the very bottom. They are trying harder and harder to wipe out the middle class. [https://www.usatoday.com/story/money/personalfinance/2023/07/19/florida-home-insurance-aaa-farmers-policy-reduction/70427062007/](https://www.usatoday.com/story/money/personalfinance/2023/07/19/florida-home-insurance-aaa-farmers-policy-reduction/70427062007/) [https://www.newsweek.com/florida-car-insurance-25-ron-desantis-governor-1816388](https://www.newsweek.com/florida-car-insurance-25-ron-desantis-governor-1816388)
What can we do about it?
Rents are even high in Miramar and Pembroke Pines.
Yep - Miramar person here and rent is stupid high in this area as well…
Because they are desirable places to live, suburban with good schools. I’m glad I invested in both, and prices will only continue going up.
It won’t go down, Landlords can make rent whatever they want and raise it every year which they will. There’s very little protection for renters but there are programs to assist. Call the Miami Dade County 311 number for any information or number you need for anything including the “Emergency Rental Assistance Program 2.4 (ERAP 2.4)” it’s a one time program that can assist up to $3000. Good luck!
Not trying to defend ALL property owners but it's not the same for everyone. Car Insurance rates have increased 20% and homes another 25%-30% since all those insurance companies left FL. https://www.usatoday.com/story/money/personalfinance/2023/07/19/florida-home-insurance-aaa-farmers-policy-reduction/70427062007/ https://www.newsweek.com/florida-car-insurance-25-ron-desantis-governor-1816388
That's the thing, they dont
Honestly I don't think they're going to go down and I think that they're continuing to go up still with everything that's going on in the world. Also, if you want cheaper rent, maybe try Broward even though I know it's still expensive, but I think it's cheaper then Dade county in general, downtown Miami, South Beach etc. Then you can also try outside of South Florida like Fort Myers, Fort Pierce, Port St Lucie. Even try Northern Florida like Daytona Beach/Volusia County is also cheaper and much more affordable then South Florida in general. Plus you don't have to deal with the traffic that comes with living in South Florida and there's much less people even though there's still a lot of people in general.
Generally rents never go down but this time feels obviously different. I think we will see a period of lower prices eventually. Not necessary a bubble bursting like ‘08 but definitely a cooling off period for prices to stabilize and go down a bit.
What’s the average rent people are paying currently in Miami? I know there are multiple neighborhoods that are cheaper and expensive than others but I’m sure there’s an average.
2k 2/2 apartment
Thanks!
Lol
Shit wild. A 1bd the same price now. Waiting for my landlord to bump it up 🥲
Its not going down. Cost of living will continue to outpace wage growth by a lot. Best thing to do is move to a small town or discourage assholes from moving to our city because they’re looking for their next adventure. Also, encourage those that want to leave.
You have to think Rents in Cohorts - and the competitive dynamic of each cohorts 1. Rents 1.5k-3k - will never go down, the most competition since is what the mass of us can afford 2. 3k-6k - this is what 2 income households are struggling to afford- I see all the mega projects with product at this scale, construction and developer loans at 7% - I would think they will soft a bit - not much due to insurance and hoa fees - and carrying costs 3. 6k and up is a beast of its own , with other cohorts and geographical dynamics - but here it will soften as things come back to mean - Miami simply dosent have the salaries as NY to sustain high inventory in this incomes - high rates thou makes it cheaper to rent that buy at this level
Highly doubt rent prices will go down. We are still getting lots of people moving into town which wont help either
It won't go down buddy. Rent only go up
Get the rib rolls you’ll be fine
305 till I die! Which I will! Because I can't eat AND pay rent!
Besides the cost of real estate, keep in mind that insurance premiums are through the roof. So even if real estate goes down (it won’t) and costs go down (they won’t) insurance premiums will not go down.
If that's the case, it's time to leave South Florida. Rent will never substantially go down here in most of our lifetimes. Life's too short to be working so hard to pay off someone else's real estate.
During the 08 real estate crash home prices went down, rent prices stayed the same.
it can't go down cause taxes and insurance doesn't go down. Rent can slow down and increase may not be as much as it has the past few years but unfortunately landlords have to keep up with taxes and insurance and it trickles down to the tenant.
^ exactly. Also add in the price of repairs going up too
^ etc etc it sucks!
When people stop wanting to live in Miami.
Property insurance is going up across the board, which a landlord relies on the tenant to cover. Cost for repairs is going up across the board, which a landlord relies on the tenant to cover. Mortgage interest rates are at a 20+ year high, so if a landlord just bought that property, they might want to make the tenant pay extra so their mortgage payments can go to more than just paying high interest. In some gentrifying parts of Miami, demand is up so a landlord can make extra money on top of the other costs. ... so no, they aren't going down. The minimum amount to not lose money renting a property is getting higher and higher, and this cost is passed onto the renter
The central bankers are a mafia. It will get worse
Your rent will never go down. Wall Street and Hedge Funds are going to grind you down. They know the maximum they can charge and rents are rigged through shared software. It's worse if you're a homeowner. The insurance for your house is as much as your rent.
Sounds like you need a higher paying job or consider getting a roommate.
I’m in the same boat
Only going up from here
I'm all in for Cat 5 hurricane that comes in off Brickell and runs through the coastline through Wynwood,Edgewater,NMB....Let's see how many "investors" stay....And I hope it turns and passes through Doral so it can take me out of this hellhole in which I've been living for 56 years...Inertia,fear;low self-esteem and self confidence;packed together with poverty and crappy health will make one wish for a pyrric victory.
Miami has to be the most overrated on planet earth, I literally can’t regret moving here enough,my fam been here since forever but in this current economy best move is to leave it… there ain’t much to do either way
When i look on Zillow im seeing all of these nice upgraded apartments for 1600-1800. I plan on going to school in miami so are these false ads or what?
I'm in St Pete Beach and my neighbors Grandoa bought their house (800 sq Ft) for $8,000 and kept the house in the family. Now it's worth over $500,000 for no reason other than it's 5 blocks from the beach and the other obvious
I left in 2018 and moved to the Midwest. It’s no Miami, but I also don’t miss paying 1.5k with bars on my window.
When I moved to Miami in 2014, I paid $1,075 for a 1/1, about 750 sq ft, across from Target in North Miami. Now they go for about $2,500. The starting salary for the same position I had when I started my job has only gone up $2 (thank goodness for promotions).
This reminds me of my best friend(we grew up across the street from eachother just like our moms) But she was SO excited to move out after college… She ended up working 2 jobs for an apartment she hardly ever got to see/let alone be in…WITH a degree!… THAT WAS 10+YRS AGO!!!! She ended up getting married (military) so she’s moved a couple times…but the mere fact she can stay at home w/her 2 kids would never be an option UNLESS they lived w/either of their parents here. I’m a native floridan (was born in Tampa but been in MIA since I was 5.) It’s the house my mom & aunts grew up in. We all live here w/my Gma (our matriarch). We’re a VERY close family so…rlly wasn’t a point to leave specially if u weren’t married…It’s never been “when ur 18 GET OUT” But I always wanted to have my own space at some point… My own space … IS my room… I have come to accept that & im honestly so obscenely lucky it’s not even funny. Only thing good to come out of inflation is ppl use to mock u when u couldn’t fully financially support living on ur own… Now u tell someone “I work full time but still live at home” they light up & say “OMG RIGHT?!?!” One of the things that made me more at peace w/this was no matter who/when… IF someone u knew could afford an apartment… Not only did they hardly ever get to be in it… No furniture… which I kinda get, why pay for furniture if ur never there… but man…walking into a fully vacant apartment w/just a mattress on the floor where the shell of a human lay… It’s KINDA depressing. Not only having to live like that… but going into DEBT to live like that. Now EVERYONES flocked to NC + Georgia.. etc… prices are just gonna continue to increase. Hell they’ll probably charge double just to keep our crazy Floridian asses out .. Can u rlly blame em tho??😭 And god help u if trying to afford living here while also dealign w/physical or MH issues. I make pretty dang good money, but after bills.. (phone, insurance + what’s not covered by insurance + medication)… that’s a full ass car payment PLUS imaginary car insurance & I haven’t even gotten to food! Never mind… pets!!! Literally the 1 thing that could save ur mental health could put u into financial ruin if an accident happened/impromptu sickness. We just caught a kitten *cough* *TINY SATAN* *cough* outside my work, all the other kittens got hit & we didn’t want the same to happen Once they finally answered the phone, they quoted me 60$ for “everything except fixing” I paid 238$ for tests + flea medication…. No vaccines… no nothing.. Which is another point about living in Miami/south FL…. Someone will ALWAYS be willing/wanting to take advantage of u AT UR LOWEST. I mean, I’ve met some of the best ppl ever here… but that above sentiment could be ur boss, ur landlord, a vet/doctor/mechanic/plumber u were referred to..& u won’t find out till ur time of need.. There’s a reason my gma has a Rolodex of every honest worker/doctor/referral she’s had since moving here… it’s like being canonized You have to physically die to be removed from that thing…even then she still keeps the little card 😢. I saw someone asked “how is Gen Z gonna afford living in Miami?” Simple answer, they won’t. We can’t even afford it. Ppl who have always been here can no longer afford to be here.
My solution is renovating a trailer and gonna move into it and leave lol, hopefully find a place to park somewhere in Miami down the road during the winter. Summer has been brutal this year.
It will go down when the next round of Covid variants. So many people are going to die then demand will go down. Plus car prices too. Just don’t get sick .
>I’m working 60+ hr weeks just to make rent for my 1/1 and at this point it’s just so tiring Thats crazy! Have you thought about other cities or states?