How Miami is dealing with challenges in the condo and rental markets
South Florida’s condo and rental markets face issues of affordability, safety and development pressure.
Rapid construction of high-cost luxury apartments, like those downtown, contrasts sharply with the persistent need for below-market-rate housing. Meanwhile, rents have declined slightly due to increased supply, but many residents remain rent-burdened amid stagnant wages and inflated housing costs.
Safety legislation following the 2021 Surfside collapse also has put more financial strain on condo owners, with rising repair costs, mandatory reserves and insurance challenges…