Before the housing bubble burst in 2008, the average person in the tri-county area spent only 28.5 percent of their income on rent. But by the end of 2015, that percentage shot up to 43.8 percent. After Los Angeles and San Francisco, the Miami metropolitan area is considered the third least affordable market in the country.
For the most part, we're all struggling to make ends meet, balancing credit card and car payments. But it's still fun to imagine what flashy, exorbitantly priced property you'd chose to live in if you were diagnosed with a terminal illness and maxed out all your credit cards. So, rather than feel incredibly out of place at a bougie open house, the number-crunching team at Rent Cafe found the most expensive properties currently on the market in South Florida's most expensive cities for renters.
Here are the eight most expensive properties for rent across South Florida:
8. Weston: 3460 Paddock Rd. ($15,000 per month)
As Broward's westernmost city, Weston may as well be Timbuktu. In order to lure people to live here, you'd need a house that comes with a wine room, private master outdoor lounge area, pool and spa, outdoor grill, and some idyllic lake views. Fortunately, such a place exists. Though $15,000 a month is a steep price, it has the lowest sticker price on the list. A bargain!
7. Boca Raton: 1000 S. Ocean Blvd. 602, ($35,000 per month)
Technically, this property has the fewest square feet. But what this property lacks in space, it makes up for in crazy expansive ocean views from every direction. Sure, you also have a private elevator, a master bath that really doubles as a spa, and even a "fireplace room" (in South Florida!?). But the best asset is being able to look down from your balcony at all the proles on the beach and laugh.
6. Coral Gables: 955 Journeys End Rd. ($38,000 per month)
For $38,000 you could rent this property for a month or help a struggling University of Miami student nearby by paying a semester's worth of tuition. But chances are the perks of the latter deal won't hook you up with a saltwater pool, a private dock, a tennis court, and the satisfaction of knowing you're living in a work of art (the architects who designed this house are the same guys masterplanning Nature City in Abu-Dhabi).
5. Fort Lauderdale: 828 Solar Isle Dr. ($44,000 per month)
Wedged between Miami and Palm Beach, Broward has long been regarded as the spot where normal middle-class folks that haven't completely sold out for a house out west in the suburbs live. But for $44,000 a month, no regular middle-class folk will be living here: It's the most expensive property currently for rent in the entire county. Chew on that as you party on your yacht or soak in your oversize pool or jacuzzi.
4. Delray Beach: 511 S. Ocean Blvd. ($65,000 per month)
If Bravo launched The Real Housewives of Delray Beach, a character would surely be residing here. You can almost picture her waking up her kids in all six bedrooms, helping them brush their teeth in one of the seven bathrooms, taking a dip in the ocean-view infinity pool, and then getting in a catfight with her middle-aged frenemy as they await botox treatments.
3. Sunny Isles Beach: 17749 Collins Ave. 3701/2 ($75,000 per month)
This property might boast marble floors, onyx bathrooms, swim and spa, a fireplace, a private pool, a private elevator landing, and 360 degrees of ocean views and the Miami skyline, but the biggest draw is knowing that you're just down the street from the Trump Towers.
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2. Palm Beach: 473 N. County Rd. ($95,000 per month)
Addison Mizner designed a lot of remarkable properties, but this was surely one of the greatest. It has ocean views, 12 bedrooms, a private beachfront, a cabana, hand-painted tiles, a pool, and a tennis court. An added bonus: Your landlord is Dr. Oz.
1. Miami Beach Villa: 4730 N. Bay Rd. ($150,000 per month)
For $150,000, you could probably purchase a very comfortable home in Kendall, pay off your student loan debt, or buy a Lamborghini. Another option: Blow it on one month's rent at an enormous estate with 130 feet of oceanfront, downtown, and sunset views, high ceilings, a movie theater, and a separate guest house. (With this property, it's really fun to imagine how many years you'd have to work to be able to afford one month's rent.)