Miami locals complain that relocating New Yorkers are driving up apartment rents
Apartment rents have soared 58% in the Miami area over the past two years, and in some cases doubled over last year
The two-bedroom apartment that Natalia Solar has shared with her roommate for two years is doubling in rent from $3,500 to $7,000 in one year.Natalia Solar moved to a 49-story luxury tower in Miami’s Brickell neighborhood two years ago. She and a roommate paid $3,300 a month for a two-bedroom apartment in a building with an Equinox fitness club, rooftop pool, and 24-hour concierge service.
She renewed the following year for $3,500. Then when her lease expired earlier this year, the landlord delivered some shocking news: He was doubling the rent to $7,000 a month.