Entertainment

Rents have risen significantly in major U.S. cities and nearly 50% in the Miami Metro area.

according to Associated Press, Rents are currently rising significantly in major US cities.

Based on analysis from Member of the National Association of Realtors“The median rents in 50 metropolitan areas of the United States rose by an astonishing 19.3% from December 2020 to December 2021,” said a property with two or less bedrooms.

The Miami Metro area was reportedly hit hard by the rent increases. “Median rents jumped 49.8% year-on-year to $ 2,850 in the Miami metropolitan area.” Rents also surged 25% in Austin, Memphis, Jacksonville, and Las Vegas.

According to the Associated Press, rising rents are the driving force behind high inflation, which is a major concern for economists. Labor Ministry data covering existing rents and new listings show a much smaller increase, but these are also rising. According to the Ministry of Labor, rents in January rose 0.5% from December. It may seem small, but it is the largest increase in 20 years and has the potential to accelerate. “

Remember, Miami goes beyond Los Angeles, The second most expensive place to live New York is number one left.

Based on the October 2021 Home Purchaseability Index Report RealtyHo, Miami’s housing market is growing tremendously. It is now the second most affordable city in the United States. @ local10news Report.

In September of this year, Miami was ranked third after Los Angeles, but things seem to have changed. According to the report, Miami’s median income is $ 39,049 and median housing income is $ 549,000.

When COVID affected the country, many then left the west coast and emigrated to areas like Miami.

“Miami has overtaken LA as the second most expensive housing market in the United States, despite a slight price drop from the previous report,” the report said. “Miami households should expect to pay $ 2,653 a month for their home, which is about 81.55% of their median income.”

Rumi, are you all experiencing this?




Rents have risen significantly in major U.S. cities and nearly 50% in the Miami Metro area.

Source link Rents have risen significantly in major U.S. cities and nearly 50% in the Miami Metro area.

Show More

Related Articles

Back to top button