Rising costs affect South Florida real estate

This collection of stories explores how rising costs impact South Florida's real estate market, highlighting shifts in affordability and pricing that drive decisions for condos, homes and rentals in 2025.

In Hollywood, new luxury apartment buildings continue to emerge, posing affordability challenges despite the development boom in the downtown area. Meanwhile, in Miami, residents grapple with soaring rent costs, making it one of the most rent-burdened metro areas in America.

Development plans on Florida's Gulf Coast involve transforming a former mall site into affordable apartments as a response to housing demands.

Read the stories below.

Soleste Hollywood Blvd at 2001 Hollywood Blvd is pictured hovering among existing buildings on Sunday, Sept. 15, 2024, in Hollywood, Florida, as the city shores up its housing needs with development in its downtown area in an attempt to address the city’s affordable housing needs. By Carl Juste

NO. 1: EVEN AS HOLLYWOOD BUILDS MORE APARTMENTS DOWNTOWN, AFFORDABILITY REMAINS A CONCERN

A look at what is coming and why it might not be enough to ease housing pressure | Published October 5, 2024 | Read Full Story by rhabersham@miamiherald.comRaisa Habersham

Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. “It just keeps going up and I don’t get a break to save, and I need new baby clothes, ya know they grow out of them so fast,” said Germain. By Alie Skowronski

NO. 2: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY’RE STRESSED ABOUT IT

New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver

File photo of houses in Miramar, where all homeowners take their homestead exemption tax break.

NO. 3: DO YOU OWN A ZOMBIE HOUSE? A VACANT HOME COULD COST YOU, AND YOU MIGHT NOT EVEN KNOW

What to know about the real estate situation. | Published November 12, 2024 | Read Full Story by Lew Sichelman

An affordable housing apartment complex is planned for the DeSoto Square Mall property where currently storm debris is being processed. By Tiffany Tompkins

NO. 4: WANT TO LIVE WHERE A MALL USED TO BE? AFFORDABLE APARTMENTS COMING TO THIS FLORIDA AREA

Check out what’s planned. | Published January 22, 2025 | Read Full Story by Jason Dill

The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.