In our analysis, we juxtapose the current rental units in the top ten tracts with the highest unit development potential across the City of Miami, factoring in both the demand for rental units and the median rent in these tracts.
Rental Units and Development Potential in Miami’s Top Ten Tracts
Our findings reveal potential demand for rental units in Tracts 26.0 and 14.02, while Tract 67.07 demonstrates a clear demand. The latter likely comprises many condo units rented out by their owners.
Quantifying Rental Demand: A Methodological Approach
To quantify the demand for rental units, we multiply the population by 1,000 square feet, then factor in the percentage of renters in each tract.
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Deepblocks is state-of-the-art data-driven software that utilizes artificial intelligence to identify the best investment opportunities. Deepblocks digitizes zoning data with precision and provides a comprehensive understanding of city-wide development capacity down to the parcel level. Our GIS-like interface seamlessly integrates demographics, economics, construction activity, crime, ownership, and race to deliver rapid market and site selection capabilities, saving time and effort. Whether you’re a developer, investor, or real estate professional, Deepblocks is the ultimate tool to make informed decisions and stay ahead in the industry.
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