Rental rates rise in downtown Miami: report

There were a total of 1,250 residential leases in the second quarter of 2012 in downtown Miami, according to a report from Condo Vultures. That number represents a reduction of around 8 percent from the same period in 2011, a drop that coincides with a 12 percent increase in rental rates, according to an analysis by Condo Vultures’ CVR Realty brokerage. The median monthly lease price jumped to $2.02 per square foot in the second quarter, up from $1.80 in the second quarter of 2011. That number was $1.66 per square foot in 2010. There are more than 65 days of residential product still available for lease. — Alexander Britell

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.