The Biden administration says that Miami is the “epicenter” of the country’s housing crisis as the bustling South Florida metropolis has seen a surge in demand for available rental units that are few and far between.
“I decided I was going to Miami, to the epicenter of the housing crisis in this country,” Housing and Urban Development Secretary Marcia Fudge told the Miami Herald during a visit to the city on Tuesday.
The Biden administration is helping a private developer refurbish a public housing complex as part of a $390 million plan that will include subsidized housing for low-income residents as well as rent caps.
The federal government provides the majority of funding for public housing projects in Miami-Dade in the form of Section 8 rental vouchers for low-income tenants.
Miami is one of the most competitive rental markets in the country, according to RentCafe.