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South Florida Multifamily

More Renters Than Ever in Miami

The Miami apartment market's doing better than ever and one reason is that there are so many more renters here than there used to be. A report by the NYU Furman Center For Real Estate & Urban Policy, "Renting in America's Largest Cities," says that Miami’s rental population grew 25% between 2006 and 2013. Reasons for the sizable increase include a large influx of newcomers—who tend to be apartment dwellers, at least for a while—and the relatively high prices for houses in a relatively low-wage market, according to Miami Today, which cited the Furman study. [MT]

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