There is now financial relief for people in Miami who can’t afford ballooning rental prices.
The city commission voted to give $1,000 a month for six months to people who meet certain qualifications, which includes making a median income of $31,000 or less.
"We want to be able to help the prototypical Miami family get assistance," said Mayor Francis Suarez.
According to a report by realtor.com, the average rent nationally jumped almost 20% in January compared to one year ago.
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The biggest rent increase across the country happened in Miami, where rent increased almost 53% from last year.
Miami is now the fifth most expensive place to rent in the country, behind several cities in California including San Diego, Los Angeles and San Francisco.
"What we are seeing across the board from all our different cities is we are seeing these increases, but we wanted to create a program for people who have already been here who are seeing these massive increases," Suarez said.
Miami’s $5-million Everyone Rental Assistance Program offers up to $1,000 a month for up to six months for people who meet the following criteria:
- They must have experienced a rent increase of 20% or more.
- They have lived in Miami for at least three years and their median income falls below $31,000.
Priority will be given to seniors and family with children.
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While this relief is only temporary, the mayor’s office says they have more permanent solutions in the works, including 11 affordable housing projects already funded and 47,000 more units in the pipeline.
More information on the rental assistance program should be available in the upcoming days.
