Miami one of the least affordable cities for renters - slideshow
Shaun BevanSouth Florida Business Journal
Median rent prices have surpassed the affordability threshold for middle-income families in more than 90 cities, including Miami, which ranked near the top of a list of the least affordable U.S. cities by the New York Times.In order for rent and utilities to be considered affordable, they must make up 30 percent or less of a household's income. Nevertheless, the median rent alone exceeds 30 percent in nearly 100 cities nationwide. According to the Times, nationally, half of all renters are now spending more than 30 percent of their income on housing, up from 38 percent of renters in 2000.And the outlook doesn't look too good, experts say. Apartment vacancy rates have dropped so low that forecasters at research firm Capital Economics say that rent could rise as much as 4 percent this year, compared with 2.8 percent last year.
Author:Kevin Berman Phone: 954-471-8120 Dated: April 20th 2014 Views: 1,048 About Kevin: REAL ESTATE BROKER & MILLION DOLLAR GUILD MEMBER
members are specialists who have certified success...
About LUX Florida Home Collection & Bankers Realty Services
LUX Florida Home Collection & Bankers Realty Services are a full service real estate firm. Since 2000 we have been listing, selling, leasing & managing property for both residential and commercial real estate owners throughout South East Florida. We have a team of experienced Real Estate, Mortgage, Appraisal & Legal professionals who all work together to assist in our clients needs.
Fla. receiving $567,928 to help homeless vetsWASHINGTON – April 9, 2
"Kevin is wonderful to do business with. He is on his game. Kevin has assisted my husband and me with three transactions over the past 4 years. I can’t imagine using anyone else. I will also continue to refer him because I am confident he will take care of business"