The Real Deal Miami

Miami posts second-largest rent gain in U.S.

April 05, 2012 03:45PM

Evidently, many of the international investors snapping up Miami condominium units are earning growing returns on their purchases. Citing Trulia.com data, CNN reported that rents in Miami increased 12.1 percent between March 2011 and March 2012, the second highest growth rate in the country, trailing only Sarasota’s 12.9 percent gain. CNN attributes the rising rents in Miami to the increased demand stemming from displaced former homeowners whose properties were foreclosed upon. [CNN]