Why is rent in Miami so expensive? (Miami Beach, Naples: rental, condo)

[mörkrädd]

Originally Posted by Olmyt

If you think Miami (or the U.S.) is expensive, try watching "House Hunters International" or just looking online...you can get something VERY nice in Miami in comparison to ALOT if not MOST major cities in Europe or Asia!

While it may be expensive to buy in many parts of western Europe, many people rent and rent is not extortionate as it is here.

[Wild Style]

Originally Posted by mörkrädd

While it may be expensive to buy in many parts of western Europe, many people rent and rent is not extortionate as it is here.

rent is out of control in Miami.

[perry335654]

I agree with Chelito as she has explained it the best on this thread, we have a lot to thank for the high prices with the 2007 building boom which condos were flipped for extraordinary profits leaving the end-users sometimes walking away from unusually large down payments.

As long as Miami is the Capital of the Americas, we will constantly have investments being made here along with the US having a weak dollar. Venezuelans and Brazilians are very active in buying condos, they may use them as second homes as for the reason you see a lot of the buildings dark,they are bought or rented and still more on the way as we see in the Brickell area.

[mörkrädd]

Originally Posted by Wild Style

rent is out of control in Miami.

Not as bad some other US cities where rent is borderline ridiculous. Miami and South Florida in general isn't the worst.

[OIF VET]

Miami Expensive? You havent lived in NYC yet, Im paying $1850/mo. for a 2 BR. I see rentals in Miami are dirt cheap compared to NYC. try areas just outside miami like Homestead, kendall, perrine. i saw a place in cutler bay, 4BRs for $1013/mo. thats awesome and cheap

[straight shooter]

Originally Posted by OIF VET

Miami Expensive? You havent lived in NYC yet, Im paying $1850/mo. for a 2 BR. I see rentals in Miami are dirt cheap compared to NYC. try areas just outside miami like Homestead, kendall, perrine. i saw a place in cutler bay, 4BRs for $1013/mo. thats awesome and cheap

You are right but NYC salaries are higher than in Miami. Cutler Bay isn't all that great and has some shady areas, that is the reason why you found that awesome and cheap price. Homestead, Perrine , and Cutler Bay aren't in the city. Look at rents in downtown Miami and Brickell if you want to compare apples with apples.

[OIF VET]

i had no idea, thats why im trolling these boards, so i can learn more about Miami and the possible area i'll be moving to...

thanks, still looking and learning, i did put in for a job transfer to Miami

[straight shooter]

Originally Posted by OIF VET

i had no idea, thats why im trolling these boards, so i can learn more about Miami and the possible area i'll be moving to...

thanks, still looking and learning, i did put in for a job transfer to Miami

No problem, as with any place you have to do a lot of research before moving in to a certain location. You don't want to move and than find out the the area is dangerous or to far of a commuter to work.

[Wild Style]

Originally Posted by OIF VET

Miami Expensive? You havent lived in NYC yet, Im paying $1850/mo. for a 2 BR. I see rentals in Miami are dirt cheap compared to NYC. try areas just outside miami like Homestead, kendall, perrine. i saw a place in cutler bay, 4BRs for $1013/mo. thats awesome and cheap

*sigh*

You are comparing apples to oranges. When you need to figure out your cost of living you also have to figure in how much you are being paid. Miami's cost of living FAR outpaces wages. That is true on a whole for all of south florida.

[Hawaii4evr]

Because Miami is a subtropical paradise of beaches, nightlife and beautiful people. That's what you get when you move somewhere with nice weather. Just look at the cost of Hawaii and southern California.