Average Rent in Downtown Miami, Miami, FL

Current Versus Historical Downtown Miami, Miami, FL Rents

Downtown Miami rentals average $2,650 for a studio rental to $23,500 for a 4-bedroom rental. The median price of all currently available listings is $4,000, or roughly $4 per square feet.

For the apartment units and housing in June 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $147 (5.86%) year-over-year from $2,503 to $2,650. 1-bedroom rentals prices have increased by $50 (1.59%) year-over-year from $3,150 to $3,200. 2-bedroom rentals prices have increased by $217 (5.06%) year-over-year from $4,283 to $4,500. 3-bedroom rentals prices have increased by $783 (11.08%) year-over-year from $7,067 to $7,850. 4-bedroom rentals prices have increased by $10,783 (92.03%) year-over-year from $11,717 to $22,500. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 2.58% this month. 1-bedroom rents have gone up by 1.59% this month. 2-bedroom rents have gone down by 0.00% this month. 3-bedroom rents have gone up by 5.37% this month. 4-bedroom rents have gone up by 3.85% this month.

Beds	Price / Sqft	Jun 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$5.02	$2,650	$2,503 (5.86%)	$1,888 (40.35%)
1 BR	$4.18	$3,200	$3,150 (1.59%)	$2,400 (33.33%)
2 BR	$4.08	$4,500	$4,283 (5.06%)	$3,600 (25.00%)
3 BR	$4.99	$7,850	$7,067 (11.08%)	$6,167 (27.30%)
4+ BR	$6.40	$22,500	$11,717 (92.03%)	$24,317 (-7.47%)

Historical Rents in Downtown Miami, Miami, FL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Downtown Miami

There are a total of 31 cities nearby Downtown Miami. The average rent in Downtown Miami is currently $3,040 per month. A total of 23 cities nearby have an average rent lower than that. Our records show that Golden Glades, FL, with an average rent of $2,100, is the most affordable city nearby. In contrast, the most expensive city near Downtown Miami, Miami, FL is Key Biscayne, FL. Monthly rents here are on average $8,250 per month.

Let's compare Downtown Miami, Miami, FL's rent against other top cities nearby by bedroom size. Typically, rent for studios in Downtown Miami, Miami, FL is 52.92% more expensive than other cities nearby. One bedrooms are about 39.62% more expensive. Two bedrooms in Downtown Miami, Miami, FL are about 44.68% more expensive. Finally, rent for three bedrooms are about 53.53% more expensive. Want more information? Check out the top 10 cities out of 31 total cities near Downtown Miami, Miami, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
North Miami, FL	$1,525	$1,750	$2,450	$2,200
North Bay Village, FL	$2,000	$2,375	$3,350	$3,040
Glenvar Heights, FL	N/A	$2,000	$3,000	$3,050
Miami, FL	$2,500	$3,030	$4,300	$3,800
Miami Beach, FL	$2,125	$2,900	$5,000	$3,800
Bay Harbor Islands, FL	N/A	$2,625	$4,550	$4,600
Surfside, FL	$2,800	$2,900	$4,500	$4,850
Coral Gables, FL	$2,100	$2,300	$3,500	$4,950
Bal Harbour, FL	$3,000	$4,000	$9,350	$7,500
Key Biscayne, FL	$14,200	$3,800	$6,900	$8,250

Top Neighborhoods Near Downtown Miami

There are a total of 39 neighborhoods in or near Downtown Miami. Some of these neighborhoods include Altos Del Mar South, Allapattah, and Flamingo - Lummus. We've included the top 30 neighborhoods out of 39 total neighborhoods in or near Downtown Miami, Miami, FL in the following chart.

The average rent for these 30 neighborhoods in or near Downtown Miami, Miami, FL is currently around $3,400 per month. A total of 25 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $3,400. Out of all the neighborhoods in or near Downtown Miami, Altos Del Mar South has the most affordable average rent at $2,000 per month. Whereas, at $15,500 average rent per month, Venetian Islands is the most expensive neighborhood in or near Downtown Miami. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Altos Del Mar South, Miami Beach, FL	$1,700	$1,950	$3,250	$2,000
Allapattah, Miami, FL	$1,650	$1,800	$2,300	$2,200
Flamingo - Lummus, Miami Beach, FL	$1,800	$2,200	$3,500	$2,200
Liberty City, Miami, FL	$1,250	$1,700	$2,375	$2,375
Flagami, Miami, FL	$1,550	$1,998	$2,550	$2,400
East Little Havana, Miami, FL	$1,650	$1,950	$2,550	$2,400
Normandy Isles, Miami Beach, FL	$1,650	$2,075	$2,550	$2,475
West Little Havana, Miami, FL	$1,550	$1,850	$2,650	$2,500
Little Haiti, Miami, FL	$1,600	$1,850	$2,650	$2,895
Treasure Island, North Bay Village, FL	$2,115	$2,350	$3,000	$3,000
Glenvar Heights, FL	N/A	$2,000	$3,000	$3,050
South Miami, FL	N/A	$2,075	$2,900	$3,100
City Center, Miami Beach, FL	$2,600	$3,200	$7,000	$3,275
Coral Way, Miami, FL	$1,840	$2,300	$2,950	$3,400
Downtown Miami, Miami, FL	$2,550	$3,000	$4,249	$3,500
Media and Entertainment District, Miami, FL	$2,500	$3,180	$4,300	$3,500
West Avenue, Miami Beach, FL	$2,295	$3,100	$4,500	$3,503
Upper East Side, Miami, FL	$1,575	$2,300	$2,600	$3,700
Wynwood, Miami, FL	$2,566	$3,600	$5,000	$4,000
Brickell, Miami, FL	$2,950	$3,500	$4,950	$4,400
Bay Harbor Islands, FL	N/A	$2,625	$4,550	$4,600
Altos Del Mar, Surfside, FL	$2,800	$3,000	$4,750	$4,775
Edgewater, Miami, FL	N/A	$3,250	$5,500	$5,100
Park West, Miami, FL	$3,975	$3,900	$5,800	$5,550
Bayshore, Miami Beach, FL	$2,410	$2,656	$6,500	$6,448
South Pointe, Miami Beach, FL	$1,950	$3,800	$8,500	$6,900
Southwest Coconut Grove, Miami, FL	$2,350	$2,600	$5,750	$7,500
Northeast Coconut Grove, Miami, FL	$2,300	$2,750	$7,500	$7,800
Village of Key Biscayne, Key Biscayne, FL	$14,200	$3,800	$6,900	$8,250
Venetian Islands, Miami Beach, FL	N/A	$3,725	$6,000	$15,500

Top Counties Near Downtown Miami

There are a total of 39 counties located by Downtown Miami, Miami, FL. Some of these counties include Miami Gardens, FL, Hialeah, FL, and Kendale Lakes-Tamiami, FL. The average rent for rentals in these counties is $3,450. That's roughly around $3 per sqft. A total of 8 counties have a lower average rent. The county that is the most affordable is Miami Gardens, FL. It's average rent per month is $2,650. Vice versa, with an average rent of $8,250, Key Biscayne, FL is the most expensive county by Downtown Miami, Miami, FL.

Typically, rent for studios in Downtown Miami, Miami, FL is 36.79% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Downtown Miami, Miami, FL is 35.61% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Miami, Miami, FL is 43.09% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Miami Gardens, FL	$1,400	$1,550	$2,200	$2,650
Hialeah, FL	$1,350	$1,900	$2,400	$2,800
Kendale Lakes-Tamiami, FL	$1,225	$1,890	$2,500	$3,000
Hallandale Beach, FL	$1,600	$2,250	$3,300	$3,300
North Westside, FL	$2,050	$2,425	$2,700	$3,400
Miami, FL	$2,333	$2,750	$3,760	$3,500
Kendall-Palmetto Bay, FL	$1,750	$2,000	$2,650	$3,500
South Westside, FL	N/A	$1,725	$2,575	$3,800
Miami Beach, FL	$2,200	$2,800	$5,200	$4,500
Key Biscayne, FL	$14,200	$3,800	$6,900	$8,250

Top Zipcodes Near Downtown Miami

There are a total of 47 zipcodes in or near Downtown Miami, Miami, FL. The average rent for all of these zipcodes is $3,300. A total of 37 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 33162, Miami, FL at $2,050 per month. In comparison, the zipcode with the most expensive average rent of $8,250 per month is 33149, Key Biscayne, FL.

Studios in these zipcodes have an average rent of $1,550. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Downtown Miami, Miami, FL is $2,025 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,800 per month. Which comes out to $3 per sqft. The following chart includes the top 10 zipcodes in Downtown Miami, Miami, FL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
33131, Miami, FL	$2,950	$3,500	$5,000	$4,300
33132, Miami, FL	$2,600	$3,250	$4,500	$3,800
33130, Miami, FL	$2,475	$3,100	$4,225	$3,725
33129, Miami, FL	N/A	$2,925	$4,500	$4,500
33136, Miami, FL	$1,840	$2,000	$2,800	$2,575
33139, Miami Beach, FL	$2,399	$3,000	$6,500	$3,800
33149, Key Biscayne, FL	$14,200	$3,800	$6,900	$8,250
33145, Miami, FL	$2,025	$2,200	$3,100	$3,100
33135, Miami, FL	$1,550	$1,900	$2,500	$2,300
33137, Miami, FL	$2,355	$3,200	$5,200	$4,700

Frequently Asked Questions - Downtown Miami Average Rents

What is the average rent price in Downtown Miami, Miami, FL?

The average monthly rental price for Downtown Miami, Miami, FL apartments for rent is approximately $4,000. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Downtown Miami, Miami, FL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Downtown Miami, Miami, FL.

How much is a studio apartment in Downtown Miami, Miami, FL?

The average monthly rental price for studio apartments is $2,650 and an average price per square feet of $5.02. There are a total of 116 studio apartment listings currently available for rent in Downtown Miami.

How much is a one bedroom apartment in Downtown Miami, Miami, FL?

The average monthly rental price for one bedroom apartments is $3,300 and an average price per square feet of $4.18. There are a total of 673 one bedroom apartment listings currently available for rent in Downtown Miami.

How much is a two bedroom apartment in Downtown Miami, Miami, FL?

The average monthly rental price for two bedroom apartments is $4,700 and an average price per square feet of $4.08. There are a total of 642 two bedroom apartment listings currently available for rent in Downtown Miami.

How have rent prices in Downtown Miami, Miami, FL changed this year?

Rent prices for rentals in Downtown Miami, Miami, FL can fluctuate yearly. Specifically, studio rental prices have changed by 0.06%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by 0.05%, and three bedroom rental prices have changed by 0.11% year-over-year.

What is a reasonable rent price in Downtown Miami, Miami, FL?

A reasonable rent price in Downtown Miami, Miami, FL is around $3,200/month. You can search for these reasonably priced rental listings on RentHop.