MIAMI—Rents in Miami's Upper East side is more affordable thanother areas—and for good reason. We turned to TimLobonav, of South Florida-based development firm,Verzasca Group, to drill down into thosereasons.

"Property values are accessible right now in Miami's Upper EastSide, especially single-family homes," Lobonav tells GlobeSt.com."Because buyers were so focused on the more well-knownneighborhoods like Miami Beach, Sunny Isles Beach, Coral Gables andBrickell, some of the surrounding suburbs were forgotten andoverlooked by locals and prospective buyers alike, keeping priceslow and affordable."

As Lobonav sees it, as those popular neighborhoods becomeincreasingly more unaffordable, buyers are beginning to look to theUpper East Side for more realistic housing and condo rentals. What's more, after fallinginto rapid decay in the 1980s, Miami's Upper East Side is startingto revive itself through new developments and an emerging artscene.