PDF Article from the Miami Herald:
Rentals might be the only part of the real estate market in South Florida on the upswing. But while it means rents are rising, economists say they could foreshadow the end of the housing crisis. “Significant increases in rents at upper-class properties will raise market-wide rental rates modestly,” real estate firm Marcus & Millichap said in a fourth-quarter report. The region’s occupancy rate is around 95 percent, and rental rates are expected to jump 2.3 percent this year. Miami-Dade’s rental prices went up to about $990 last year. Miami Beach remains the healthiest market, with an average unit rent of $1,367.
