Why is housing so costly? What to know about rentals and condos in South Florida
Real Estate News Why is housing so costly? What to know about rentals and condos in South Florida
South Florida renters and condo owners continue to face high costs and new challenges. Miami remains one of the most rent-burdened cities, with many residents spending over 30% of their income on housing and median rents near $2,373.
New state laws now require condo associations to keep more reserve funds for repairs, especially after the Surfside condo collapse, causing association fees to climb—some reaching $900 monthly in Miami-Dade. While some affordable housing projects like Sawyer's Walk and new plans by Jackson Memorial Hospital are underway, demand still far outpaces supply. Community groups push for more protections and assistance, as both renters and owners wrestle with rising costs, stricter safety rules, and limited affordable options.
Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski
NO. 1: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT
New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver
Home buyers should review fees for homeowners and condominium association fees to see if the amenities are worth it, including pool, gym, clubhouse.
NO. 2: ARE FEES FOR CONDO AND HOMEOWNER ASSOCIATIONS WORTH IT? ASK YOURSELF THESE QUESTIONS
What buyers should know about the expense. | Published January 28, 2025 | Read Full Story by LEW SICHELMAN
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. 3: '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. 4: 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
Attendees listen to Mayor Daniella Levine Cava make a pledge to the community during the PACT Nehemiah Action Assembly on Monday, April 7, 2025, at Sweet Home Missionary Baptist Church in Cutler Bay, Fla. By Alie Skowronski
NO. 5: 'RENT IS TOO DAMN HIGH.' INTERFAITH GROUP DEMANDS ACTION FROM MIAMI-DADE LEADERS
One of Miami-Dade's most politically engaged interfaith groups held their annual assembly to press elected leaders to make housing more affordable and reducing evictions in Miami-Dade County. | Published April 9, 2025 | Read Full Story by Lauren Costantino
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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