“I live where you vacation” also known as the 305 has one of the highest housing prices. Who wouldn’t want to live near the beach where we get summer for about 9 months out of the year? And we know whenever there is high demand there are high prices.
According to rental aggregate website Rentcafe.com in early 2020, the average apartment in Miami rents for $1,702 per month.
Of course prices depend on neighborhood and how close and far away you are from the beach. Many neighborhoods like Coral Gables, Downtown, Brickell, Coconut Grove, Midtown, Aventura have prices compared to Manhattan. These exclusive cities are in the higher priced bracket. However, areas like Liberty City and Overtown have high crime rates however cheaper housing rent.
More financial burden can come from hot weather during the Summer and Fall which heightens water and electricity prices.
For many young professionals and college students Miami housing prices are out of their budget but Student Luxury Living has fair prices and many perks easing the financial stress every month. Prices range from 1200-1500 per suite with free cleaning services, electricity, water, internet, and housing items.