{"id":1004166434,"date":"2017-02-15T00:26:12","date_gmt":"2017-02-15T08:26:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004166434"},"modified":"2025-02-26T23:27:44","modified_gmt":"2025-02-27T07:27:44","slug":"yardi-matrix-miamis-rising-tide","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-miamis-rising-tide\/","title":{"rendered":"Yardi Matrix: Miami&#8217;s Rising Tide"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004154631\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2017\/02\/miami-rent.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004154631\" data-attachment-id=\"1004154631\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-arranges-long-term-lease-in-gardena-calif\/500-w-190th-street-gardena-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/500-W-190th-Street-Gardena-Calif..jpg\" data-orig-size=\"1280,1005\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"500 W 190th Street, Gardena, Calif.\" data-image-description=\"&lt;p&gt;500 W 190th Street, Gardena, Calif.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;500 W 190th Street, Gardena, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/500-W-190th-Street-Gardena-Calif..jpg?w=1024\" class=\"wp-image-1004154631\" src=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2017\/02\/miami-rent.jpg\" alt=\"miami-rent\" width=\"400\" height=\"169\" \/><\/a><p id=\"caption-attachment-1004154631\" class=\"wp-caption-text\">Miami rent evolution, click to enlarge<\/p><\/div>\n<p>Miami continues to benefit from the rising tide of foreign investment as players from South America and other parts of the world hedge currency volatility while seeking a safe haven for capital. The result has been skyrocketing construction and rapid growth in rents. Miami remains as trendy as ever, but there are questions as to whether the development is too much too fast and whether the incoming foreign capital is permanent.<\/p>\n<p>In the meantime, employment and population growth continue. Miami\u2019s traditional job segments were paced in 2016 by professional and business services, which added more than a quarter of the metro\u2019s 49,500 new positions. Affordability, however, remains a big issue, as the metro has the most cost-burdened renters in the country. Despite the surge in home prices, homeownership continues to be the more affordable option, but Miamians stick to renting. The preference to rent rather than own is driven by Millennials\u2014for reasons such as mobility, location and access to capital\u2014but also by Baby Boomers, who are looking to downsize their homes.<\/p>\n<p>Demand is strong, as roughly 100,000 units are in some stage of development,<br \/> and transaction activity has grown considerably, crossing the $3 billion mark in 2016. With demand still rising, we expect new inventory to be absorbed and rents to grow by a solid 5.5 percent in 2017.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/191-Miami-Winter2017Outlook?utm_medium=Research-Center&amp;utm_source=CPE&amp;utm_campaign=191-Miami-Winter2017Outlook\" target=\"_blank\" rel=\"noopener noreferrer\">Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The metro remains as trendy as ever, but are developers building too much too fast? And is the incoming foreign capital here to stay?<\/p>\n","protected":false},"author":1318,"featured_media":1004166436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21808,1492,21742,37795],"tags":[],"class_list":["post-1004166434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-featured","category-miami","category-latest","category-rc-occupancy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Yardi Matrix: Miami&#039;s Rising Tide - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-miamis-rising-tide\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix: Miami&#039;s Rising Tide\" \/>\n<meta property=\"og:description\" content=\"The metro remains as trendy as ever, but are developers building too much too fast? 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