Miami Has More Renters Than Homeowners, Study Says
The renting population is booming throughout Florida, according to a study by RentCafe.com, a national apartment search website.
Miami, with 68 percent, ranks third in the country for the largest proportion of renters versus homeowners. Jersey City and Newark, both in New Jersey, top the list.
Orlando ranks sixth just below New York and Boston.
The average rent in Miami is $1,585 a month, according to RentCafe.com, which used U.S. Census Bureau data for the study.
Both Hialeah and Tampa ranked high on another of the study’s findings: renters as the majority population. From 2006 to 2016, the number of renters exceeded that of homeowners.
In Hialeah, the share of renters rose from 43 percent in 2006 to almost 55 percent in 2016. Tampa’s share increased from nearly 40 percent in 2006 to slightly above 50 percent in 2016.