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:
“History is strewn with the wrecks of nations which have gained a little progressiveness at the cost of a great deal of hard manliness, and have thus prepared themselves for destruction as soon as the the movements of the world gave a chance for it.”
—Walter Bagehot (1826–1877)
“To call a posit a posit is not to patronize it. A posit can be unavoidable except at the cost of other no less artificial expedients. Everything to which we concede existence is a posit from the standpoint of a description of the theory-building process, and simultaneously real from the standpoint of the theory that is being built.”
—Willard Van Orman Quine (b. 1908)
“It is a fundamental characteristic of civilization that man most profoundly mistrusts those living outside his own milieu, so that not only does the Teuton regard the Jew as an incomprehensible and inferior being, but the football player likewise so regards the piano player.”
—Robert Musil (1880–1942)