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Information About Miami Apartments
Sunny, blue skies, gorgeous beaches, gorgeous people, the country's foremost fashion industry, job growth, exciting nightlife, museums, theater, arts, and culture, sports…no matter why you come to Miami, you'll find plenty of reasons to stay. From the opera to outdoor recreation to ice hockey in eighty degree weather, Miami defies labeling. This is a vibrant, culturally rich city that has something for everyone. If you are moving to the US's “richest city,” you may wonder if you can afford all of this culture and all of the wonderful amenities that are there for the taking. Can you? How can you get an affordable Miami apartment?
All over the country, vacancy rates are climbing, leaving more apartments sitting empty. Miami, however, has seen its apartment market tighten because of recent job growth. Their rate is currently about 6 percent, which is low compared to many cities of comparable size. Usually what this means is that rents are higher because landlords can afford to ask tenants to pay more. When there are thousands of apartments sitting open, they really cannot do this. Apartments in Miami, though, haven't seen a significant jump in rent despite a lower vacancy rate.
In 2010, the average rent was about $1000. But something else that is unique about Miami is that is easier to find a more luxurious or amenity-filled apartment for less. One reason is that there is a glut of condos. McCabe Research & Consulting in Deerfield Beach reports, "Many of the newly constructed condominiums in Southeast Florida that were supposed to be owner-occupied have actually bled over into the rental pool. This has caused a lot of competition for renters in the marketplace. The new condos are renting out at very competitive rates…."
Jack McCabe of McCabe Research says, "When you've got a choice between a two bedroom, two bath, 20-year-old apartment in Coconut Grove and a brand new two bedroom, two bath, in the heart of the financial district in Brickell overlooking Biscayne Bay ' and it's the same rental rate ' it's a pretty easy choice."
When the condos are going to cheaper rates, Miami apartments for rent are also going to feel the downward pressure and offer lower rates. Now is a great time to take advantage of this trend. It is also a good time to take advantage of online tools like apartmentreviews.net, Apartments.com, and other locators. You can find not only listings and detailed descriptions but also move-in specials. For instance, one apartment in Miami is offering studios and one and two bedroom apartments for $620 to $1015. But that's not all. The move-in special being offered by the building owners/landlord gives you a free first month's rent. That extra money could certainly come in handy when you're moving into a new place. Many locators also offer a reward when you sign a lease on a Miami apt listing you found through them. This is usually $100 to $200 ' another help when you're moving.
Your Miami apartment search is a chance for you to get a great place and put yourself right in the middle of one of the most vibrant cities in the world.