While the high end real estate market has started to come back as I wrote in my post a couple weeks ago, the high end rental market has always been pretty strong (rentals of $8,500+/month). But we’re starting to see more and more people paying higher prices for rentals these days, helping our luxury rental market get even stronger. So far this year, 6 high end single family homes have been rented in the Gables/Grove/Ponce-Davis area, with another 2 pending rental. Comparing this to the same time frame in 2011 and 2010, we are renting the same number of homes, but rates are up across the board. We have seen a 14% increase in prices since 2010! It’s all good news recently for Miami real estate!