Miami’s 33136 zip code, which includes part of Overtown and Park West, has the most untapped development potential for apartments in the county, according to a new analysis.
Rentcafe analyzed Propertyshark data for the study, which looked at vacant land that could be developed into apartments.
Miami has an urgent need to build more rentals as prices are expected to surge up to 90% in the next decade, the report said.
The analysis showed 604 vacant plots in Miami-Dade suitable for apartment construction. An estimated 77,000 apartments could be built, accommodating nearly 200,000 renters.
The 33125 zip code, which includes Little Havana, ranked second for untapped development land, with the potential for up to 7,700 units on those parcels.