Can Miami job growth keep up with rent hikes?

  • Nationwide rents grew 0.9 percent in May over the previous month and 6 percent on an annual basis.
  • Miami rental market falls behind the national average in May.
  • Miami's occupancy rate fell slightly from 96.4 percent to 96.3 percent on a monthly basis.

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Rental prices continue to make strong strides, growing month by month and year by year. According to Yardi’s month survey of 119 metros throughout the nation, the U.S. saw a rent increase of 6 percent in May 2016 since May 2014 to another all-time high of $1,204.