More than 1.1 million people rent apartments in South Florida (including Miami-Dade, Broward and Palm Beach), according to the advocacy group National Multifamily Housing Council, and the total number of rental households in the area is predicted to swell to 700,000 by the year 2030.
At the same time, the number of cost-burdened renters — people spending more than 30 percent of their income on rent — continues to grow. One recent study pegged South Florida as the worst metro area in the U.S. for the second year in a row, measured by the rate of cost-burdened renters.
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