New Norm: Miami Beach Rental Listings Sit Vacant On Market At Least 2 Months

A review of the latest statistics shows that Miami Beach rental listings have been available for lease for 64 days. In 2023, rentals were leased in 39 days.

We have crunched the statistics for the Year 2023 and plan on publishing a series of of reports during the next three weeks looking at the winners and losers in Miami Beach. If you want the reports emailed to you, just sign up for the Miami Condo Market Intelligence Report With Peter Zalewski™ newsletter at: PeterZalewski.substack.com

Miami Beach may be in a landlords market but the time necessary to lease out a unit – 64 days and counting – is on the rise at the peak of the South Florida Winter Buying Season, according to an analysis of statistics compiled by CondoVulturesRealty.com.

In the 12 months of 2023, renters leased an average of about 386 units per month for a total of about 4,636 units between January and December.

Based on the current active listings in the Multiple Listing Service – a database used by Realtors to market condos and rentals – the Miami Beach market is in a landlords market with a supply of about 1,764 units available for rent. This represents about 4.6 months of supply.

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This information is believed to be accurate and complete but cannot be guaranteed or warranted.

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