Miami Rentals Drop, Defy National Trend


The housing market's continual funk may be helping landlords, but not when it comes to Miami rentals. Take Beatriz Carrazana, tenant in Miami's Vue condominium in the Brickell area. She recently re-signed her lease for another year with no raise in rent. And if there's an area that's hot for rentals, it's the trendy, rent-affordable mass of condominiums in affluent Brickell. It's the reason they invented the term location, location, location.

This goes against what a recent article in the Wall Street Journal reported as a trend in rising rents in several markets including foreclosure-filled Las Vegas.

Another tenant I interviewed who rents on Miami Beach, yet another South Florida market that remains desirable, concurred: Her rent remains the same.