Of renters looking to move, an average of 40 percent were looking to move out of the metro where they resided in the third quarter of 2021, according to a report from Apartment List, based on searches on their platform.
For the first time, Miami has topped the high-end residential price index according to a sales report issued by the Knight Frank firm that analyzes price changes for the most desirable and expensive properties in a given location in the market by value for 46 cities across the world.
Experts project rent to continue to rise by 8.9 percent through the end of the year.
The scarcity of space has had an effect in Miami-Dade, where the asking leasing rates increased 12.5% to $38.98 per square foot this third quarter, from $35.54 a square foot year-over-year.