• 66 percent of renters in Miami in 2014 are considered to be cost-burden, which is well-above the state and national averages.
  • Miami rents increased 17 percent between 2007 and 2014.
  • Apartment affordability has come down only slightly from 2008 when cost-burden renters were at 69 percent.

With the US homeownership rate at its lowest since 1967, the U.S. renter population is the largest it has ever been, and now stands at 43 million households. With rents increasing much faster than incomes, however, renters in cities across the U.S. increasingly struggle with housing affordability.

Apartment List recently analyzed Census data from 2007-2014 to understand which cities and states have the most cost-burdened renters (spending more than 30 percent of their income in rent).

Cost-burdened renters in Miami, 2007-2014

As seen from the chart above, the share of cost-burdened renters in Miami was 65 percent in 2007. It rose to a high of 69 percent in 2008, before falling to 66 percent in 2014. This is significantly higher than both the national (52 percent) and state (58 percent) average.

[Tweet “66 percent of Miami renters are cost-burden”]

Median rents and renter incomes in Miami, 2007-2014

Diving deeper into the data, we see that Miami rents have increased from 2007-2014. Median renter incomes have mostly kept pace, however, increasing by 17 percent during that same period.

As a result, the share of cost-burdened renters have fallen back around 2007 levels, but they are still significantly higher than the national level.


Andrew has lived in 13 different apartments in the past six years. He currently is a Manager of Growth Strategy at Apartment List, leading research on rental market trends and renter satisfaction. His interests include cycling, cooking and tennis.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×