A mortgage blacklist, Surfside ‘mansions' and other Miami real estate trends
Miami real estate in 2025 is marked by affordability challenges and key shifts in housing options. While rents have eased slightly, the city remains one of the least affordable rental markets, with median incomes falling short of what's needed to pay typical rent. Condo owners face new hurdles as hundreds of buildings land on secret mortgage blacklists, driven by stricter post-Surfside safety rules and soaring insurance costs.
Developers are responding with both ultra-luxury condos like The Delmore, planned for the former Surfside collapse site, and new workforce housing projects such as The Era in Fort Lauderdale, aimed at first responders and city employees. These trends reveal a housing market grappling with rising costs, evolving regulations, and significant gaps in affordability for many Miamians.
A rendering shows plans for The Delmore, an ultra-luxury condo building with units starting at $15 million, at the site of the 2021 condo collapse at 8777 Collins Ave. in Surfside.
NO. 1: 'MANSIONS' PLANNED AT SURFSIDE COLLAPSE SITE. DO DEVELOPERS 'HOPE PEOPLE FORGET' TRAGEDY?
'They can pull out all their bells and whistles ... It doesn't change the fact that their entire site is a graveyard,' said a former town commissioner. | Published January 28, 2025 | Read Full Story by Aaron Leibowitz
A view of a resurgent Northeast Second Avenue in the heart of Miami's Overtown neighborhood in April 2021, with the Plaza at the Lyric apartments at left and a Red Rooster restaurant in the background at right. By Pedro Portal
NO. 2: RENTERS ARE PAYING LESS FOR APARTMENTS IN MIAMI, BUT THERE ARE ISSUES. SEE THE COSTS
Here's a look at housing costs and ways to navigate the crisis. | Published March 14, 2025 | Read Full Story by Howard Cohen
The Era, Affiliated Development's latest project, is currently under construction in Fort Lauderdale. The apartment building is meant to help address the area's lack of affordable workforce housing.
NO. 3: NEW FORT LAUDERDALE APARTMENT WILL OFFER 'LUXURY' AFFORDABLE HOUSING TO CITY'S WORKFORCE
The ongoing development efforts come as an affordable housing crisis continues embroiling South Florida, where residents are the most rent-burdened people in the country. | Published March 25, 2025 | Read Full Story by Amanda Rosa
Condos line the Intracoastal Waterway in Sunny Isles Beach. By MATIAS J. OCNER
NO. 4: 'PERFECT STORM.' HUNDREDS OF SOUTH FLORIDA CONDOS NOW ON SECRET MORTGAGE BLACKLIST
The number of Miami-Dade, Broward and Palm Beach condos on the list has more than doubled in just two years. | Published April 4, 2025 | Read Full Story by Andres Viglucci
The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
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