Home Miami-Dade Miami ranked least affordable U.S. city for renters

Miami ranked least affordable U.S. city for renters

by The 100 Companies

With three cities in the top 10 most expensive nationwide, Florida is the second-priciest state for tenants overall – behind only California – according to a new analysis by real estate data company Clever.

But while Golden State cities nabbed four of the top 10 slots, Miami outpaced them all.

The “Magic City” has an average rent price of $1,492 – 28.5% more than the national median – while resident income averages $62,870, 9% less than the national median.

Since 2009, Clever found, the rent-to-income ratio in Miami has risen 11.3%, roughly double the rate the national ratio grew over the same time span.

Jesse Scheckner, Florida Politics

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