Miami Named Top 10 Most Expensive City In The World For Rents

A new study by commercial real estate firm CBRE says that rents in Miami are among the most expensive in the world.

Miami’s average monthly rent of $1,868 places it tenth out of 35 global cities studied. Rents in Miami are also increasing quickly, with the seventh fastest rate of growth worldwide last year.

Overall, investors in Miami are said to be earning an overall yield of 2.6$ – second highest in the world.

 

 

 

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Rod
4 years ago

The average income to rent ratio is what should concern people in Miami.

marc
4 years ago

Exactly. They don’t match up.

Anonymous
4 years ago

SAN FRANCISCO is the most expensive in the US. Since it was left off this list, the article loses all credibility.

Anonymous
4 years ago

Agree

Anonymous
4 years ago

Crazy biased. Where is San Fran, Boston? Horse crap statistics.

Anonymous
4 years ago

TNM you should be ashamed for even publishing this. Thats like putting out a statistic for US cities with the most Cubans and leaving off Miami… just stupid

Yet Another Anonymous
4 years ago

Biased a little because New York far flung outer boroughs dragging down and Miami is the opposite. Very small and compact urban city limit. Singapore also has huge high inflation with souped up incomes and very unusual economy and society. Surprised to not see San Francisco, are they cooling down?

Anonymous
4 years ago

True, what happened to Boston, D.C., San Fran… many cities more expensive here in the U. S.

Anonymous
4 years ago

True, what happened to Boston, D.C., San Fran… many cities more expensive here in the U. S.

Anonymous
4 years ago

where is Tokyo,Paris, Zurich, Moscow..etc,

Anonymous
4 years ago

God bless the landlords like mine that don’t raise the rent. I pay before the first of the month on time every time.

Marc305
4 years ago

I will post this article on our website, it may stop some people from calling us (from our website) asking if they can get an apartment on the beach for $600 per month. We get those requests a few times a month religiously.

Anonymous
4 years ago

20 years ago a studio would go for about $600 a month on the beach.. Times have changed ?

Anonymous
4 years ago

I had a respectable studio for as little as 400 a month in SoBe…as late as the early 90’s. Then the place went nuts (price-wise)…and I got a waterway apt in Ft.Laud for 400 a month.Ah…the good ‘ol days.

Maire Twomey
4 years ago

This is the biggest lie. We have small salaries in Miami to pay this,

Anonymous
4 years ago

“According to myapartmentmap.com, the current average rent for a studio in Miami is $1,260. If you want to rent a one-bedroom apartment you should expect to pay around the average of $1,508. Two-bedroom places are renting for around $1,965. If you need three bedrooms, prepare to shell out around $2,479” –

https://smartasset.com/mortgage/whats-the-cost-of-living-in-miami

Mike04
4 years ago

Maybe in Miami-Dade in general, but this report i think is for the City of Miami specifically.

Anonymous
4 years ago

Expatistan Cost of Living Index in North America

Ranking City Price Index *

1 New York City (United States) 277
2 San Francisco, California (United States) 273
3 Washington D.C. (United States) 259
4 Boston, Massachusetts (United States) 224
5 San Jose, California (United States) 223
6 Honolulu, Hawaii (United States) 221
7 Oakland, California (United States) 218
8 Los Angeles, California (United States) 217
9 Philadelphia, Pennsylvania (United States) 212
10 Seattle, Washington (United States) 206
11 Chicago, Illinois (United States) 205
12 San Diego, California (United States) 200
13 Miami, Florida (United States) 196

Anonymous
4 years ago

it’s $3000 + for a 1 bedroom apartment in
San Francisco, in a decent neighborhood. Without a parking spot which would be another $250 even it was available. I know because I live there.

Neil
4 years ago

These latest statistics don’t come as a surprise. Zika aside, Miami continues to be a highly desirable, multi-cultural city with plenty of room to grow further. I’d say that Miami Beach pulls up the Miami average overall…when you look at condos like Apogee (http://www.skyfiveproperties.com/condos/South-Beach/Apogee/) with rents at nearly $30,000 per month. Singapore isn’t a surprise either; I was just there earlier in the year and the velocity of their home sales has slowed quite a bit, but rents and hotel nightly rates keep on rising. A chicken sandwich, piece of cake and tap water was over $50 USD. Crazy. We still have it good in the states. Miami still seems like it’s cheaper than San Fransisco. The example earlier in the comments of $3000 for a 1 bd and no parking in SF can be beat in many great areas of Miami.

Anonymous
4 years ago

The average family lives on less than $40,000 a year in Miami.. just not in new, fancy buildings this website publishes… certainly not on South Beach.. maybe North Miami Beach.