News In Brief

A win for renters: Miami added nearly 9,000 affordable apartments between 2020-24

WLRN Public Media | By WLRN News Staff

Published February 9, 2026 at 4:10 PM EST

Compared to early 2021, Miami-Dade County has now doubled its investments into affordable and workforce housing projects. County officials believe the current building boom will cause rents to begin to drop, as the supply of apartments begins to outpace demand. Pictured is the River Parc campus in Little Havana.

Is Miami growing the number of affordable apartments?

Yes, according to the latest report from RentCafe.com.

Their data shows there nearly 9,000 new affordable apartments were added to the Miami market in the last five years, from 2020-2024.

The new housing accounted for almost 20% of all new housing built in what RentCafe.com said is one of the nation’s most expensive and competitive housing markets.

“Miami completed 8,690 affordable apartments from 2020 to 2024, which is an increase of 97% compared to the previous five years,” reported RentCafe.com.

Over all, Miami ranked ninth nationwide in the number of new affordable apartments completed during the five-year period.

RentCafe.com analysts say the nationwide growth in affordable housing construction “was driven in large part by expanded public funding and policy support,” including the federal Low-Income Housing Tax Credit.

The analysts cited Residences at Sawyer’s Walk, a 578-unit affordable community at 249 NW Sixth St in Miami’s Overtown neighborhood as a “standout development.”

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