Investor interest, urban development drive sharp rise in Miami, Tampa home values

Home prices in Miami and Tampa have doubled since 2018 due to strong investor interest and urban development, significantly enhancing property wealth but exacerbating the housing affordability crisis for middle-income families. The rapid increase in single-family home prices is attributed to factors like the pandemic and shifting consumer preferences towards more spacious properties. Miami-Dade County remains the hottest rental market in America, with high competition and soaring average rents.

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