Miami-Dade mayor warns of affordability crisis as rents rise 30%
(Bloomberg)—Miami-Dade County Mayor Daniela Levine Cava, which has been facing more than 30% increased rents over the past year, allocated $13 million for tenant assistance and said she’s working with local officials. Will call a meeting which he called one. power crisis.
Levin Cava, a Democrat, said she would push for a faster solution and convened the mayors of South Florida County’s 34 municipalities next month to work on a county-wide commitment to affordable housing. She said bureaucracy and red tape needed to be reduced and the county’s efforts would focus on both increasing the supply of housing units and a “broad suite” of tenant protections.
“Since Covid-19, our economy has recovered the most in the country,” she said at Friday’s press conference. “In the last one year, we have also become one of the most inaccessible areas of the country. It is stifling opportunities for many, and hurting our working families. ,
The affordability crisis is real in Miami-Dade County. Rents have risen more than 30% in the past year, putting real pressure on families, workers and local businesses.
According to a report from Realtor.com, Miami has seen the biggest rent increase among the 50 largest metro areas in the country, with prices rising 55% in February from a year earlier. The city is also the least affordable rental market in the country, with a typical rental costing around 60% of household income.
“We must make it easier for residents in our county to live, work and thrive,” she said.
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