Miami’s rent is hundreds of dollars above the national average, according to a Zillow report that examined its figures.
The Zillow March Market Report released April 6 stated that the typical rent in the U.S. was $1,910, a figure that’s up 1.8%, year over year. Miami, however, had a typical rent of $2,665 – around $700 dollars more. Figures are based on the company’s Zillow Observed Rent Index and the Zillow Home Value Index.
From the prior month alone, rents in Miami increased by 0.3%, according to the report. Year over year, rents have grown by 0.7%.
What do people make in Miami?
Last year, personal finance site GOBankingRates.com reported that Miami residents needed a salary of $144,219 to “live comfortably.” The study used the 50/30/20 finance rule and doubled the cost of necessities to arrive at that figure…