Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

5 of 10
BACKNEXT
5. Miami: Buy
Miami: Buy
Average list price: $190,000
Average annual rent: $24,200
Price to rent ratio: 7.8

Miami went through a huge building boom during the bubble, leaving it with a glut of condos after prices collapsed. Prices are down more than 56% from their early-2008 high, according to the National Association of Home Builders and Wells Fargo.

Trulia pegs the average monthly rent at more than $2,000 for a two-bedroom apartment, which brings the price-to-rent ratio in under 8. Many of the fancy condo buildings that were planned during the boom but completed after the bust have been converted to rentals because sales were so slow.

The housing bust and recession has also taken a toll on the local economy. The unemployment rate stood at 10.9 in April, a point above the national rate. That has weakened the market for both purchases and rentals.

NEXT: Fresno, Calif.: Buy
Last updated June 14 2010: 2:22 PM ET
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in:
  • New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
More Galleries
17 cool gadgets that tease the future Smart telescopes, surveillance for dogs, an electric roadster and more from CES 2018. More
These 12 airplane beds let you really sleep on a flight For the price of a premium class ticket, you may just get a space that's comfortable, private, and quiet enough to ensure a good rest. More
CES 2018 kicks off with oddball gadgets The biggest tech show of the year opened with a collection of quirky gadgets. More

Special Offer