Even with roommates, New York City tenants paid the most monthly rent in the U.S. — $1,559 on average — during the last three months of 2022. The city’s average monthly share of rent with a roommate increased 20 percent from the same point in the previous year.
And roommate rents in some neighborhoods went from expensive-but-still-theoretically-doable to flat-out ridiculous. An apartment in Gramercy Park, for example, cost $2,051 per roommate as 2021 closed, the study found. One year later, the neighborhood’s average roommate rent stood at $2,936.
Foreign investment floods into Miami Real Estate
According to a new report from the Miami Association of Realtors, foreign buyers picked up $6.8 billion of South Florida residential real estate between August 2021 and July 2022. That’s a 34% increase from the prior year.
Foreign buyers made up 17% of home sales in Miami over this period, and the median price of homes they bought was $500,000. The majority, 66%, made all-cash purchases. Of that buying, nearly 40% said they would use the property as a residential rental, while around 20% would make it their primary residence.
(source: patch.com, axios.com)
