Miami has once again been named the hottest market for apartments in the nation, according to RentCafe.
A total of 137 markets were analyzed for the ranking.
Demand in Miami is “exceptionally high,” RentCafe said. “With Miami’s growing popularity, finding a vacant apartment here is like looking for a needle in a haystack.”
The occupancy rate for apartments in Miami is said to be a “spectacular” 97.1% (the national average is 94%).
A total of 24 prospective renters are vying for each available rental in Miami (triple the national average), the report said, with available units being rented in just 33 days (10 days faster than the national average).
Miami-Dade had an 0.9% increase in new apartments – one of the highest of all markets analyzed, but the report said that it was still “not enough.”
