Miami is in the grip of a housing crisis, driven by unaffordable rents, increasingly strict condo regulations, and mounting redevelopment pressures.
While recent Redfin data shows a drop in rents, Miami remains one of the least affordable cities in the U.S. The income needed to rent here far exceeds what most residents earn. Condo owners are also feeling the strain, as maintenance costs and association fees climb—fueled by new state laws requiring stricter financial reserves in the wake of the Surfside condo collapse. Nearly half of Florida’s condos that don’t meet Fannie Mae’s standards are located in Miami.
A major obstacle is Fannie Mae’s opaque “blacklist,” which now includes hundreds of Miami condo buildings. Properties on this list are ineligible for conventional mortgages and repair loans, further stressing homeowners and making developer buyouts more attractive. Aging buildings with safety violations or escalating costs are particularly vulnerable to termination and redevelopment.
The Five Key Stories Driving the Conversation
1. Miami Renters Are the Most Cost-Burdened in the Nation
New Census data reveals Miami residents spend more of their income on housing than those in any other major U.S. city.
Published October 8, 2024
2. Lawsuit Filed Over Safety Issues in Luxury Beachfront Condo
Residents of a Bal Harbour complex near Surfside sue over structural concerns.
Published November 14, 2024
3. Is Your Condo a Target for Redevelopment?
Older buildings facing rising costs may be ripe for developer buyouts.
Published January 30, 2025
4. Rents Are Dropping in Miami—But There’s a Catch
Lower prices don’t tell the full story amid hidden fees and affordability challenges.
Published March 14, 2025
5. South Florida Condos Face a Mortgage Crisis
The number of condos in Miami-Dade, Broward, and Palm Beach on Fannie Mae’s secret blacklist has more than doubled in two years.
Published April 4, 2025
Source: Miami Herald
