The article highlights a significant trend in Miami's real estate market, where the average size of apartments has fallen below 900 square feet, marking the smallest sizes in a decade. A survey by RentCafe reveals that smaller units, particularly studios and one-bedroom apartments, now dominate new construction, reflecting a shift towards compact living spaces in densely populated areas. Despite a 4% drop in median apartment rent to $2,373, Miami remains the second least affordable city for renters in the U.S., emphasizing the ongoing housing challenges in the region.
If you think your Miami apartment feels a little tight, join the club. In a city that doesn't have a whole lot of room, builders are making apartments smaller.
The average size apartment in Miami has shrunk to below 900 square feet for the first time in at least a decade, according to RentCafe.
Studios and one-bedroom apartments are taking the lead, now representing 56% of new units, according to RentCafe.
Even with dropping rents, Miami is ranked second on the least affordable list.
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