Rental prices have soared this year. U.S. Department of Housing and Urban Development Secretary Marcia Fudge visited one city to see the crisis herself.
U.S. Department of Housing and Urban Development Secretary Marcia Fudge dubbed sunny Miami the “epicenter of the housing crisis in this country” during a visit Tuesday.
To... U.S. Department of Housing and Urban Development Secretary Marcia Fudge dubbed sunny Miami the “epicenter of the housing crisis in this country” during a visit Tuesday. To anyone following the nation’s surge in rental prices, zeroing in on Miami is hardly a surprise. The overall median rental price for the Miami–Fort Lauderdale–West Palm Beach region was up nearly 46% in May from the same time last year, according to data from Realtor.com. Miami has also consistently ranked among the U.S. cities with the fastest-growing rents this year.
Fudge suggested reforms to local zoning rules as a potential solution, as well as allocating COVID relief money toward easing the pinch, according to the Miami Herald.
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