The combination of Florida’s condominium crisis and staggering annual non-mortgage housing costs reinforces why renting is the best option in the Miami market. New reports dive deeper into the impact of the state’s stringent condo laws and national cost-of-living challenges for homeowners. 

In a new Realtor.com article, one state lawmaker goes as far as saying that surging Florida condo fees “could trigger the next wave of homeless people.” Florida’s government continues to grapple with how to balance ensuring the safety of older condo buildings and avoiding the complete financial collapse of condo associations and owners.  

On a national level, average homeowners are spending a whopping $24,259 per year on non-mortgage housing costs, according to National Mortgage Professional. That breaks down to $2,044 per month to cover home repairs and maintenance expenses. In a recent survey of 1,000 homeowners, 69% reported regrets about their home purchase. 

A silver lining for those in Miami debating whether to buy or rent: there is an ideal new rental option in one of the city’s most desirable – and iconic – neighborhoods. 

Douglas Enclave is an 11-story, 199-unit building with brand-new Little Havana apartments available for rent. It includes an elegant mix of studio apartments, one-bedrooms, two-bedrooms and townhomes for rent. Individual apartments feature vinyl-wood flooring, open-concept kitchens, stackable washer/dryer units and efficient appliances. 

Building amenities include a club lounge, fitness center, electric vehicle charging stations, bike racks, gated parking garage, dog washing station, saline pool, business center with computer stations and a package delivery room. Douglas Enclave is extremely transit-friendly and located next to a Coral Gables Trolley stop. 

Little Havana is one of Miami’s most popular neighborhoods to live in because of its convenient location, rich history, culture and many things to do. The neighborhood is perfectly positioned near the world-class shopping and dining of downtown Coral Gables, and a short drive from Miami’s bustling Brickell financial district. 

For more information about Douglas Enclave, call (786) 610-4811 or visit the leasing office located at 61 NW 37 Ave. between 9:30 a.m. and 5:30 p.m. from Monday to Friday. Douglas Enclave is part of Miami-Dade County’s Workforce Housing Program – contact the leasing team for more details and qualification requirements.