Average Miami-Dade residential rents slip in pandemic
Written by Abraham Galvan on December 22, 2020
Miami-Dade County renters are searching for properties that will reduce their cost and accommodate new normal needs due to the pandemic, which is causing a decrease in apartment rent averages.
The average effective rent fell 1.4 % in September, decreasing to $1,660 per month in Miami-Dade. The effective rent in the Class C segment recorded a 0.6 % gain to $1,234 per month, while Class A rent fell 4% to $2,080 per month, according to Marcus Millichap’s fourth quarter Apartment Market Report for Miami-Dade County.
To read the full story click here to subscribe.