Cost of Living
The average apartment sale price was $347,729 in 2010, up 15% from 2009, with the average apartment price at $300 per square foot. During the Miami building boom of the mid-first decade of the 21st century, 23,628 condominium and apartments were built in numerous high-rise towers that quickly transformed the city. Over 85% of these apartments are now occupied as of early 2011. It is estimated that about 550 new residents move to Downtown every month. Renters make up 56% of the residents in Downtown.
In July 2011, Downtown's office vacancy rate was reported at 21% dropping from a high of 26% in mid-2010. Downtown also reported an average commercial asking rate of $36.33, making it the eighth-highest in the nation after Manhattan, Washington DC, Fairfield County, Connecticut, San Francisco, and Boston.
Read more about this topic: Downtown Miami
Famous quotes containing the words cost of, cost and/or living:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“One must always be aware, to notice—even though the cost of noticing is to become responsible.”
—Thylias Moss, African American poet. As quoted in the Wall Street Journal (May 12, 1994)
“If he from heaven that filched that living fire
Condemned by Jove to endless torment be,
I greatly marvel how you still go free
That far beyond Prometheus did aspire”
—Michael Drayton (1563–1631)