How South Florida's rental market shows the realities of housing affordability

Рет қаралды 33,841

14 күн бұрын

A new report from RentCafe shows that South Florida is the tightest rental market in the country. CBS News Miami's Tania Francois takes you along for a look at what it is truly like to be a renter here.

Пікірлер: 129

@jeffreymassey5541 11 күн бұрын

Salaries in South Florida don't match the rent in South Florida. 🤔

@Duttonmuffins 14 сағат бұрын

The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement.

@JesseMayhill 14 сағат бұрын

I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.

@Cottoncandyh 14 сағат бұрын

I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too.

@Madrasschebe 14 сағат бұрын

I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

@Cottoncandyh 14 сағат бұрын

'Melissa Elise Robinson' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

@Madrasschebe 14 сағат бұрын

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

@ShantalhaitianPrincess 12 күн бұрын

all those Broward places are in the hood lol those prices are crazy who the hell is paying that much to get shot at in the hood smh

@Wecomenow 12 күн бұрын

Getting away from Miami is PRICELESS y’all

@iveyhealth2266 12 күн бұрын

NEVA! Broward & Dade are paradise.😊

@august21xp 8 күн бұрын

Yessssssss 🎉

@mr.a. 6 күн бұрын

Very true! You can establish yourself and purchase a property. That’s key. South Florida has become undesirable for many.

@Mar1o305 5 күн бұрын

@@iveyhealth2266u must be smoking dat good stuff

@thedirtybubble9613 Күн бұрын

@@iveyhealth2266 Not anymore.

@jameswaters3939 12 күн бұрын

It's not what the market will bear, but rather what the market says we have to bear. The field reporter quoted 'experts' who say your rent should be 1/3rd of your income. It used to be 1/4 of your income and that was for a single income. Now, they want us to accept the 'experts' who say it should 1/3rd of really 2 incomes. It's out of whack. It's un-a-Floridable.

@707Berto 12 күн бұрын

X is an unknown factor; a Spurt is a drip under pressure.

@kennethderrickson8840 12 күн бұрын

I didn’t see anything special there. $2000-$3000 for those 600-900 feet unimpressive apartments ?😳 I’ll take Cleveland for $600.😂

@ShantalhaitianPrincess 12 күн бұрын

and those areas were in the hood imagine paying all that just to get shot up smh most people renting at those prices are coming from out of state

@ericclay2214 11 күн бұрын

I love Cleveland I live in Euclid 2 blocks from Lake Erie. I am from San Antonio TX of 36 years. I just hate Winters here. Yes this is an old city but I love it here. I got a full 3 level 4 bed 2 and a half bath brand new home for 1100 a month 10 miles from Downtown Cleveland. 3 major grocery stores restaurants and bars around the block perfect location

@fjm1235 12 күн бұрын

After growing up in South FL and living there for 45+years we had to move sadly. The housing market is beyond crazy.

@august21xp 8 күн бұрын

Same here !

@SpicyKimchi- 11 күн бұрын

$2500 in Little Havana? What are they smoking?

@DavidAtchison121 12 күн бұрын

When I was renting on South Beach, in the 90s, rent was cheap. I didn't know it at the time, of course.

@MichaelChengSanJose 12 күн бұрын

Dang, those prices are starting to get within 30% of Bay Area rates.

@nhernandez925 9 күн бұрын

I seen more affordable rent in the SF bay than I did when I lived in South Florida.

@MichaelChengSanJose 9 күн бұрын

@@nhernandez925 yeah, if you’re in the rougher parts up the east bay, they can get real cheap.

@sunvegeta 12 күн бұрын

Too bad they didn't ask the first gentleman in the report "Why he moved back to South Florida?" And, "Why couldn't he had moved somewhere else?" I would like to know what was the thought process in that decision, knowing very well that there is a housing crisis here South Florida.

@mr.a. 6 күн бұрын

I was curious too. What makes folks move back?

@caneprints 12 күн бұрын

With insurance companies fleeing the state in droves and Housing costs skyrocketing constantly, I just don’t see how average people will be able to remain in Paradise much longer. Wealthy people and corporations have deep pockets and will be able to self - insure, But unless something changes, that doesn’t leave much room for the rest of us.

@LouisMorganxb3 12 күн бұрын

I bought my 2nd property in San Diego of August 2022 for 685k with rate of 4.375. Now the property current value is 895k. In LESS than 2 years I’m already up over 30% in equity. No reason to sell because I’m cash flowing on 2 ADUs studio and I already made over 90k in rental cash flow which covers my monthly mortgage. Not to mention my rate is freaking low and I consider it as asset

@ms_jon1 12 күн бұрын

I feel sorry for 1st time homebuyer who were never able to afford it to start. I don’t feel sorry for 1st time home buyers who were able to afford it but choose to wait thinking market is crashing and now priced out

@angelodgreat6561 12 күн бұрын

Real Estate is still a very LOCAL Market. Prices in one City do not reflect the Prices in another City.

@republican7 12 күн бұрын

I've recently been thinking about getting in touch with consultants. I'm an adult, therefore I need direction, but I'm not sure if their services would be very beneficial.

@LouisMorganxb3 12 күн бұрын

The information you need to work with a letter to schedule an appointment would be included when you search *Leah* *Foster* *Alderman*

@agentjacob4099 12 күн бұрын

For those in need of direction, consulting with an experienced, independent financial counselor is advised.

@USDiploMike 10 күн бұрын

1:55 $2,000 for Miami Gardens 2 bed room… 😂

@nonenone5008 12 күн бұрын

And houses prices as well

@cyan1616 11 күн бұрын

You forgot to mention that the majority of rental units are directly or indirectly owned by foreign investor groups who only care about profits. Companies and individuals from Dubai represent the largest share of foreign property owners.

@iveyhealth2266 12 күн бұрын

Nothing under 2k, even for a 1 bedroom.😮😮😮

@jaykay3835 12 күн бұрын

Bruh! That’s WORSE than NYC… strong sign tunes have changed

@iveyhealth2266 12 күн бұрын

@@jaykay3835 True!

@kd-123-kd 12 күн бұрын

I live in an apartment building, first/last/security equal to 1 month rent is exactly why I can’t move into a townhouse or rent a house, that would be about $9,000 upfront for me… Never experienced security deposits like this anywhere else in the US I’ve lived.

@chargermopar 12 күн бұрын

Every one of those places look depressing. Miami had the highest cost and the lowest wages. Only an idiot would want to move here.

@UncleDavesKitchen 12 күн бұрын

Since Divon 'just moved back' then he KNOWS he needs first, last month rent and deposit. It's not like a surprise. Or was he expecting a Welcome Back party from the city???

@Mari96109 12 күн бұрын

Lol

@zcvxs 11 күн бұрын

Realtors in Florida pushed for rent hikes and higher housing costs

@richard09able 10 күн бұрын

Suddenly the New Yorkers are homesick.

@user-kk3qg5el1m 3 күн бұрын

Yeah they were bragging and even offering over asking price. I hope they are enjoying it.

@SA-hz1rs 11 күн бұрын

Everyone is leaving😅😅

@Moebeastz 11 күн бұрын

South Florida market is horrible . Drops rate or stop investors !

@omnia001 12 күн бұрын

When everything around you is flooding obviously you’re gonna keep your rental.

@PianoMatronNeeNee 12 күн бұрын

Great report ❤

@ezra420420 11 күн бұрын

These are rip-off prices

@oldpirate7434 12 күн бұрын

It's greed

@faywhite7886 12 күн бұрын

Condos are on sale right?

@thedirtybubble9613 Күн бұрын

Thanks a lot Manny Diaz. He started this.

@giovannicarmona7792 6 күн бұрын

That 1 bed in Little Havana is ridiculous at 560 sq foot for $2,500 lol, pay few extra and you'll be in Brickell with more square footage.

@normahernandez355 12 күн бұрын

It’s abusive what they are doing to the Citizens of Florida , people. Can’t afford To live here!!!!! It’s out of control

@alexlopez5800 11 күн бұрын

It's everywhere in the country and not one person is saying anything to change it

@nhernandez925 9 күн бұрын

time to move, you don't "have" to live in Florida

@jreinel1966 12 күн бұрын

Is ridiculous the high rents here in miami Dade en miami bech,super spenced...a lot of people been evicted for not be able to pay the rent..!

@danielterry382 12 күн бұрын

If I was going to live in Florida I would rent. I would like to rent a Condo in a High rise, not looking to buy one for sure with HIGH insurance, and HOA fees, and assessments.

@chriscamp60 12 күн бұрын

What do you think you’d still be paying as a renter? You’re still paying all of that on behalf of the owner in your monthly rent!

@user-kk3qg5el1m 3 күн бұрын

You are still paying the high Hoa by renting a condo. Do you think the landlord will not 8nclude that in the cost? 😂

@libertyliberty3777 12 күн бұрын

Rent strike across the us

@robertmalone4161 7 күн бұрын

The lawmakers must lower property taxes on rental properties, otherwise prices will continue to increase each year.

@foolproof2010 11 күн бұрын

Sooner or later this bubble has to burst. Wages aren't keeping up with these high rents. Or we will see all the poor people leave and hardly no one to run the registers etc etc etc. Everyone hiring but no one wants an under paying job.......

@lastshallbefirst5516 9 күн бұрын

No, these are the Last Days. The Bubble ain’t gonna burst. Society is no longer looking out for the poor, this days are gone. The world wants people to die trying to survive, which will cause chaos around the world. And then, the “Bubble” will burst. But that bubble is the Lord versus Evil, and everything will be reset.

@lastshallbefirst5516 9 күн бұрын

Covid should have taught y’all something. That’s the only time in American history where the poor actually got ahead for a little while. The world elite seen that and said, “Never again!”

@christinebutler7630 11 күн бұрын

Big news,.folks. there are more affordable areas in the country and yes, they do have jobs. If you're house poor in Florida, it's time to move.

@tommyv5866 12 күн бұрын

And if your not comfortable living in the ruffer areas. Don't come. Some of yall get here and 1st place yall rush to is "Miami beach"... its only for rich people and tourist.

@ShantalhaitianPrincess 12 күн бұрын

Lauderhill is a ruff area lol prices there shouldnt be that high

@Livinglifetvee 12 күн бұрын

Am not rich and I live in Miami beach it’s expensive but you don’t have to be a millionaire just have good income stream

@ShantalhaitianPrincess 12 күн бұрын

@@Livinglifetvee 🤣🤣🤣🤣

@CamEats123 12 күн бұрын

@@ShantalhaitianPrincessinverrary area west of university is nice

@ShantalhaitianPrincess 11 күн бұрын

@@CamEats123 lol yes thats West Lauderhill the place that people think is Sunrise and is majority middle class instead of lower working class like the rest of Laudrhill it even has million dollar homes lol but i would never buy a million dollar home in that area only transplants do that then regret it a year later

@NBSoflo 7 күн бұрын

The prices here in FL are ridiculous but have you seen NY ? 3K for a studio.

@DrewRueDoo 5 күн бұрын

At least people are getting paid better

@adr3naline23 12 күн бұрын

South Florida is crumbling apart , no one can afford that they are dreaming it’s about to turn into Detroit with empty buildings

@SA-hz1rs 11 күн бұрын

They call it detroit by the ocean😅😅😅

@thedirtybubble9613 Күн бұрын

Cool.

@WhispersOnLy 8 күн бұрын

Insurance and Tax have been going up ⚡👌🏿

@barbiebarbie8849 12 күн бұрын

so u basically got be rich almost to live here n u cnt raise kids here it’s to much 😭🚩☠️

@Grasshopper.80 11 күн бұрын

What’s going on in housing across the country is criminal.

@AJJax-kd4kr 5 күн бұрын

It's time to move north! 😢

@user-kk3qg5el1m 3 күн бұрын

We are full don’t come running here ruining the north area.

@teebone2157 8 күн бұрын

Yet units sit empty

@MosesKim-je5rj 7 күн бұрын

Some things never change. Bubble in Florida. How trite.

@mikejewell8518 7 күн бұрын

This is cheap relative to places like Philadelphia, and Philly cost-of-living is not that expensive compared to this area and the superstar cities

@user-kk3qg5el1m 3 күн бұрын

Unless Philadelphia and Florida has the same low pay wages you can’t compare the two. These prices doesn’t reflect Florida wages

@Patrick-yh5yd 9 күн бұрын

This will make crime skyrocket. Shoplifting will become normal.

@brianst.bernard1009 10 күн бұрын

You get homesick and wanna go home and then you look at the price of rent and turn around 😢😢

@landmark22 8 күн бұрын

This is getting out of control, I have to make a decision

@stevenchow408 11 күн бұрын

Move to toledo

@tommyv5866 12 күн бұрын

I'm be honest, Miami is affordable if you live poor. If you go there, trying to be a hot-shot like they want you to. That city will eat you & your bank account alive.

@dens3096 12 күн бұрын

Refuse to rent expensive! Move in with roommates! Lets squeeze greedy landlords!

@lextacy2008 5 күн бұрын

I wonder if these landlards are paying anything on their properties or are they just making the tenant pay the entire mortgage, maintenance, and property tax bill? Seems like these landlards want a free lunch and luxury lifestyle they cannot afford and live way beyond their means.

@TropicoDreams 10 күн бұрын

But all new refugees getting section 8 on South Beach.

@SunShine-ls1ul 11 күн бұрын

Hey Desanctimonious, We thought Florida was a free state ??? Tallahassee not doing anything once again.

@ga8462 7 күн бұрын

1/3 income lol

@MrLetusdancenow2003 12 күн бұрын

Fake news there’s so many rentals available is ridiculous

@katval5250 12 күн бұрын

slow much…they stated that in the beginning of the video 19 tenants per unit the problem isn’t quantity its the prices

@user-kk3qg5el1m 3 күн бұрын

Good let them sit. Find a roommate

@katval5250 23 сағат бұрын

@@user-kk3qg5el1m until they pass a bill making it illegal to have a roommate like Kansas

@landmark22 8 күн бұрын

Condo😅😅 stop

@Ktheodoss 10 күн бұрын

Divide your yearly income by 40. Your monthly rent shouldn’t be more than that. Stop trying to live in areas and apartments you cant afford and then complain.

@lastshallbefirst5516 9 күн бұрын

Be quiet. Decent apartments in decent neighborhoods are unaffordable to most. Nobody wants to live in a poverty / crime ridden area just to pay cheaper rent. Sorry, let’s think with logic

@Ktheodoss 8 күн бұрын

@@lastshallbefirst5516 No. Theyre not unaffordable. They are filled with people that can afford them. If they weren’t then the apartments would be empty and the rent would drop. Grow up and be a man. Stop whining about not getting what you want.

@lastshallbefirst5516 8 күн бұрын

@@Ktheodoss DumDum, if they’re affordable, then why are people working 3 jobs and having roommates just to live there? DumDum, if they’re affordable, then why are the majority of American citizens are complaining about their high rents? Of course people live there, they’re barely surviving. That’s the point, DumDum. If you’re barely surviving then that means rent is unaffordable. Because rent by far, is your biggest monthly expense, by far. So stop exaggerating like a child, “no one would live there 😢!” Most people in South Florida have to work multiple jobs and / or have roommates. And are still barely surviving. That’s not a healthy way to live. You’re welcome for educating you.

@lastshallbefirst5516 8 күн бұрын

@@Ktheodoss If you were half the man your momma was, you might have a higher I.Q. If you ask the majority of people in America, they’ll tell you rent is way too high, and living is becoming unaffordable. That’s not an opinion that’s a basic common sense damn fact.

@ezra420420 11 күн бұрын

Thanks biden

@katrinagarrett9612 11 күн бұрын

DeSantis.

@RobertZemeckis2025 9 күн бұрын

@@katrinagarrett9612 wrong its joe problem

@beejay9863 12 күн бұрын

In Miami all the panchos mysteriously get all the apartments and help, nothing but prejudice goin on

@contraataque7080 12 күн бұрын

In North Miami all the Harambes get the help

@thedirtybubble9613 Күн бұрын

Yeah it's rigged for a certain demographic no doubt about it.