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Miami rents have grown sky high over the past decade. So those looking for housing should take advantage of Miami Beach opening their waiting list for affordable housing.

From Monday, July 1 at 9:00 a.m. through Friday, July 5 at 11:59 p.m. applicants can sign up for studio apartments via https://secure.miamibeachfl.gov/housing.

According to the website, “Once the waitlist is closed, the City will randomly select 1,000 persons from the submitted applications for addition to the City’s affordable housing waitlist. This selection will occur at a public lottery drawing on July 10, 2019 at 10am in the Commission Chambers. This is a public drawing and applicants may attend in person. Results of the drawing will be posted on the City’s website on July 12, 2019. Applicants can track their position on the waitlist online.”

To be eligible for the studio apartments, households of 1 person must make less than $47,450. Households of 2 people must make less than $54,200. One other catch is applicants’ “annual Income cannot be less than the annualized rent amount of $8,868.00.” In other words you will have to prove you can afford the rent which on the sliding scale will come out to a maximum of $739 per month.

Pretty good deal. Especially considering it’s impossible to find a studio apartment in Miami Beach these days for under $1,000.