While the Midwest landed the nation’s most competitive region for apartment hunters this year, Miami was ranked as the most competitive metropolitan area rental market in the United States.
A new report from RentCafe, a national apartment rental database, named Miami, Florida, “Wall Street South,” bringing in a large number of major banking and investment firms, as well as technology companies. As a result, an influx of new job seekers is joining the multitude of area residents already clamoring for a place to rent.
Miami’s Rent Competitive Index (RCI) earned the top score of 93.1, exceeding the national average by 17.4 points. Suburban Chicago was a close second with an RCI of 88.4, followed by North Jersey, Lansing-Ann Arbor, Michigan, and suburban Philadelphia—all with scores above 85….