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Miamians spend too much of their salary on rent

MiamiHerald / Miami-Dade County once again is being counted among the country’s most expensive places to rent an apartment. And this time, we’re dead last.

According to a new study by the online marketplace Apartment List, Miami-Dade County has the biggest percentage of cost-burdened renters of any major city in the U.S. That statistic landed it the dubious rank of 100 out of 100.

Nearly 63 percent of renters in Miami-Dade were cost-burdened in 2016 – which means they paid more than 30 percent of their incomes to their landlord. Almost 34 percent of Miami-Dade renters are severely cost-burdened, spending more than half their paychecks on rent.

Miami is not the most expensive city rent-wise,” said Apartment List senior research analyst Sydney Bennet, who conducted the study. “But when you look at what people are spending on rent and what they can actually afford, the biggest gap is in Miami.”

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