Anyone have any ideas what will happen with rent in miami? Will it go back down during the summer or are we all getting pushed out

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Why would it move down?

Miami is a desirable city compared to the rest of the US. Rent tends to trend downward when there’s a lot of vacancy. Do you feel like people will leave Miami in droves come summer?

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Sounds like a few other markets where rent growth has been stagnant for many years, and the recent influx of people from other cities due to more freedom to work from wherever has lead to a gap in that the market will support rent wise. If rents go up $1,000 compared to a previous lease agreement, it’s probably because they have someone else lined up who will pay that higher rate. That’s a big reason why buying real estate is often considered a hedge on inflation since you usually lock your mortgage rate in for a specific period of time.

Don’t see it moving down, but I feel you, it’s been wild

Pretty much everyone I know from the Bay Area moved to Austin, Miami, or LA in the last 2 years. everyone loves wherever they went so I’m gonna say probably not.

everyone I know kept the same jobs and went remote so they’re getting bay area salaries. I know it isn’t fair to the local salary standard but it is a reality that may somewhat change the housing and rental landscape.

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