#1 Most Expensive City to Rent an Apartment

The rental bubble in Miami is growing even bigger, with rental rates now surging up to nearly $3,000/month. That's almost as expensive as New York and Los Angeles in nominal terms.

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And it's actually way more expensive adjusting for income. Because people in Miami don't make much money, with the median household income across the metro measuring $68,000.

This means that renters need to pay nearly 50% of their gross income towards rent, the highest in America. Making Miami the #1 most expensive market to rent an apartment in.
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