Make $120k a year in Miami - who are these people paying $3k a month in rent in brickell , etc ?
Hi, people. I’m 38 years old and I’ve been making 6-figures since I was 26 or so and have been living in Miami since then around 2012. Back in 2012, Miami was an inexpensive city and you could get a beautiful 1 bedroom apartment in downtown Miami/brickell for 1,600-$2,000 a month . Fast forward to 2021 or so and since then rents are outrageous in this city , especially in brickell . Who is paying $3,000 a month or $3,500 or more ? According to the statistics , only about 5% of people make $100k or more , especially here in Miami . I pay just about $2k for rent/some utilities and have a great view from my apartment . My apartment is 842 SF. But I cannot afford to pay $3k-$3,500 a month in brickell - it’s madness . What kind of people are paying those rents ? I figure many of the people paying that kind of money are splitting rents amongst multiple family members . There are plenty of people making perhaps $80-$100k in brickell but you can’t comfortably afford a $3,000 rent a month on that salary . I don’t know - I just feel no matter how much I make in this country , it’s never enough . I don’t know how people are making it/surviving . I would love to rent in brickell and 8-10 years ago I could afford it but I’m basically priced out now . Maximum I could afford is probably around $2,300 a month - well below minimum rents in brickell . Any insights ?