Researchers Find South Florida Is Most Overvalued Rental Market In US
MIAMI (CBSMiami) – It's no secret that the rental market in South Florida has been on another level, and now a new study is really shedding light on it.
According to researchers at Florida Atlantic University and Florida Gulf Coast, South Florida is the most overvalued rental market in the country with renters paying 22% more than they should.
The study found the average rental price in the area that includes Miami and Fort Lauderdale is $2,832 but should be closer to $2,326.
Researchers used past leasing data to model prices.
The housing crisis is leaving many desperate for help. That's why CBS News Miami wants to share your stories to show the crisis you're in or how you navigated the system. We will highlight these issues and work to get answers and solutions. Send us an email at housing@cbs.com.