The average apartment sale price was $347,729 in 2010 up 15% from 2009 with the average apartment price at $300 per square foot During the Miami building boom of the first decade of the 21st century 23,628 condominium and apartments were built in numerous high-rise towers that quickly transformed the city Over 85% of these apartments are now occupied as of early 2011 It is estimated that about 550 new residents move to Downtown every month Renters make up 56% of the residents in Downtown, Main article: Geology of Florida. .
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