Here’s What Zillow’s Rent Estimate For A Condo In Brickell Looks Like

Apartment rents in Miami have been going parabolic over the past few months, according to Zillow’s rent estimate charts.

One Brickell City Centre apartment that would have rented at what Zillow estimated was around $2,100 at the beginning of 2021 is now listed at $4,500.

A shortage of supply appears to be driving the surge.

The Reach and Rise towers at Brickell City Centre are a prime example of the supply and price shock.

Just 20 units in the 780-unit condo complex are available for rent, fewer than what has normally been available over the past five years since construction was completed, according to the MLS.

The least expensive unit is 810 square feet and now listed at $4,000.

SLS Lux across the street has even fewer vacancies – just 9 rentals are available out of the 450 condo units, with prices also starting at $4,000.

A similar supply and price shock can be seen in other nearby buildings, both in Brickell and further north in downtown Miami.

 

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Anonymous
1 month ago

I knew this would happen, as soon as all these people from NY and San Fran started to make the move their prices from those places would follow

Anonymous
1 month ago

“their prices from those places would follow”

Their prices?

wtf…

Anonymous
1 month ago

lmao

Anonymous
1 month ago

Prices are based on supply and demand economics. In San Fran a Software developer makes over 145,000$ a year on average. The issue is? Their are half a million people in that field there, so they all go out and spend money and because they’re so rich that trickles to the business owners who are also able to raise prices and make tons of more money. So with all this money making, you have a lot of competition for homes. Crappy studio apartment in san fran is like 4,000$ a month, and a crappy house is going for millions, etc. California has millions leaving the state due to extreme regulations and taxes, many are coming to Florida because it’s nice. What’s the problem? Floridian prices were relatively low because money in circulation was low, now it’s going to go way way up, and it starts with real estate and rent.

Anonymous
1 month ago

What’s 50k a year on rent anyway…

Anonymous
1 month ago

9 out of 450?? Incredible
Healthy would be about 15% or 67 units available.

There are a lot of small business owners (and illegitimate fraudsters) receiveving Paycheck Protection Payments.

When that dries up, the market will start to normalize a bit. Still, Brickell could absorb a lot more supply.

Anonymous
1 month ago

From $2100 to $4500 in less than a year? And people wonder why we see homelessness, vacancy signs, and businesses struggling to stay afloat everywhere.

Anonymous
1 month ago

That’s for a hi-end unit. $2100 still gets you a nice apt in S FL, those renters aren’t going homeless. Especially with evictions being stopped.

Anonymous
1 month ago

Yea but now Brickell is seeing manhattan prices per square foot and in the blink of an eye and Florida doesn’t make NY money nor did wages hike to ever keep up with inflation

Anonymous
1 month ago

Where in SoFla?

Anonymous
1 month ago

“struggling to stay afloat everywhere.”

WE do?
I don’t see that.

The area at Miami Ave/ S 8th Street is very active.
The only “struggling” business is probably the Burger King with 3 homeless guys out front.

35,000 residents in Brickell, 50,000 workers, and probably 10,000 tourists at any given time and there are 6 homeless guys.

Anonymous
1 month ago

I see the streets littered with $70K pickups and people sitting in restaurants with their noses glued to $1K smart phones. I’m starting to think trips to 3rd world countries should be mandatory for all Americans so they can get a sense of what poverty and depravity really is.

Some guy’s lux condo rent over doubled—-oh the inhumanity!

Anonymous
1 month ago

Don’t kid yourself… I’m pretty sure none of those homeless were trying to rent or could even afford the SLS. Most of us CANT!!!

Anonymous
1 month ago

“And people wonder why we see homelessness, vacancy signs, and businesses struggling to stay afloat everywhere”

– EVERYWHERE –

Gee, I didn’t know that word referred only to Miami?

Anonymous
1 month ago

You can move to Hialeah. It’s just 8 miles NW of Brickell!

Anonymous
1 month ago

The Next San Francisco

Anonymous
1 month ago

That’s actually quite amazing.

Anonymous
1 month ago

Pinpointing the highest end of the luxury market isn’t relevant for the majority of renters although rents overall have definitely been climbing generally to nobody’s suprise…

Anonymous
1 month ago

Trickle down. Even if the highest end… this most definitely does effect rents in lower-tier units.

Anonymous
1 month ago

Not so sure about the low end. A wave of rental listings could swamp the market over a short period as eviction cases restart plus a smaller pool of credit-worthy renters with clean eviction-free rental records. Seems like it could put downward pressure on low-end rents, not on increases.

Anonymous
1 month ago

Thanks to the people coming from other states to work from here while getting a Silicon Valley paycheck, my landlord want me to pay 50% more.

Anonymous
1 month ago

good luck affording living in Miami if you are not in tech or 200k/year income

Anonymous
1 month ago

I bet you’re missing out on something vertical from women.

Old enough to remember
1 month ago

why don’t you go all the way back to 2005?

Anonymous
1 month ago

Brickell City center apartments don’t even have nice views… just a bunch other buildings and water views far away and in between buildings… nah!

Anonymous
1 month ago

Low supply, high demand, and Bidenflation.

Anonymous
1 month ago

Wow that’s ignorant

Anonymous
1 month ago

He’s a Trump University graduate so what else would you expect?

Anonymous
1 month ago

Thank you Biden!!!! You fuck up everything

Anonymous
1 month ago

Don’t be mad at me because people who went to Trump’s fake University found out they were conned out of their money and Trump had to fork over millions of dollars to them when they sued his a$$.

Anonymous
1 month ago

Haha, Trump lovers can’t stand the truth.

Anonymous
1 month ago

Yeah that nasty Biden reducing unemployment to 5.2%. Grr. And Republicans are providing so many great alternatives. Grr.

Anonymous
1 month ago

You’re talking about Trump?!

Market Urbanist
1 month ago

Non sequitor argument. What does the current inflation situation have to do with Trump U?

Anonymous
1 month ago

Um, Market Urbanist is a Trump University graduate.

Anonymous
1 month ago

How’s that ignorant?! The fed is printing and giving away money at a rapid rate, help wanted everywhere and people would rather collect, take your head out of your ass

Anonymous
1 month ago

And when you got that check, I bet you didn’t refuse one red cent of it.

Anonymous
1 month ago

Not everyone got a check. You’re THAT GUY who ASSumes everyone did because you did. Look, just because you and everyone else in your family of burger flippers and ditch diggers got one does not mean everyone got one. There are fairly modest income limits on the handouts. $100K and over income disqualifies you, and $100K/yr income isn’t all that wealthy these days.

Anonymous
1 month ago

^ Like Malcom X said, “throw a rock in the middle of a pack of dogs, and the one that hollers is the one that got hit!”

Face it, you got hit.

Market Urbanist
1 month ago

But, but, but…orange man bad. Lol.

Anonymous
1 month ago

Yeah, he is, just ask Michael Cohen, Omarosa Manigault, and Liz Cheney to name just a few right-wingers.

Market Urbanist
1 month ago

Yup