Average Rent in Miami, FL

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Current Versus Historical Miami, FL Rents

Miami rentals average $2,404 for a studio rental to $13,000 for a 4-bedroom rental. The median price of all currently available listings is $3,900, or roughly $4 per square feet.

For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $217 (10.40%) year-over-year from $2,083 to $2,300. 1-bedroom rentals prices have increased by $50 (1.69%) year-over-year from $2,950 to $3,000. 2-bedroom rentals prices have increased by $233 (5.88%) year-over-year from $3,967 to $4,200. 3-bedroom rentals prices have increased by $1,099 (21.32%) year-over-year from $5,152 to $6,250. 4-bedroom rentals prices have increased by $325 (3.54%) year-over-year from $9,175 to $9,500. 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 6.15% this month. 1-bedroom rents have gone up by 1.75% this month. 2-bedroom rents have gone up by 6.33% this month. 3-bedroom rents have gone up by 7.33% this month. 4-bedroom rents have gone up by 23.38% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$4.76	$2,300	$2,083 (10.40%)	$1,720 (33.73%)
1 BR	$4.08	$3,000	$2,950 (1.69%)	$2,050 (46.34%)
2 BR	$3.87	$4,200	$3,967 (5.88%)	$2,850 (47.37%)
3 BR	$4.11	$6,250	$5,152 (21.32%)	$4,011 (55.81%)
4+ BR	$4.88	$9,500	$9,175 (3.54%)	$8,800 (7.95%)

Historical Rents in Miami, FL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Miami

There are a total of 29 cities nearby Miami. The average rent in Miami is currently $3,000 per month. A total of 21 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 Miami, FL is Bal Harbour, FL. Monthly rents here are on average $8,700 per month.

Let's compare Miami, FL's rent against other top cities nearby by bedroom size. Typically, rent for studios in Miami, FL is 43.32% more expensive than other cities nearby. One bedrooms are about 36.69% more expensive. Two bedrooms in Miami, FL are about 41.95% more expensive. Finally, rent for three bedrooms are about 41.18% more expensive. Want more information? Check out the top 10 cities out of 29 total cities near Miami, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
North Miami, FL	$1,563	$1,790	$2,500	$2,250
Fountainebleau, FL	N/A	$2,125	$2,500	$2,600
Hialeah, FL	$1,400	$1,875	$2,400	$2,857
North Bay Village, FL	$2,000	$2,325	$3,400	$3,000
Glenvar Heights, FL	N/A	$1,975	$2,800	$3,000
Miami Beach, FL	$2,200	$2,950	$5,200	$3,900
Bay Harbor Islands, FL	N/A	$2,625	$4,300	$4,350
Coral Gables, FL	$2,000	$2,400	$3,900	$4,481
Surfside, FL	$2,800	$2,950	$5,100	$5,200
Key Biscayne, FL	$14,200	$3,500	$7,000	$8,500

Top Neighborhoods Near Miami

There are a total of 38 neighborhoods in or near Miami. Some of these neighborhoods include Flamingo - Lummus, East Little Havana, and Flagami. We've included the top 30 neighborhoods out of 38 total neighborhoods in or near Miami, FL in the following chart.

The average rent for these 30 neighborhoods in or near Miami, FL is currently around $3,463 per month. A total of 22 neighborhoods have a lower average rent. Meaning, only eight neighborhoods have a higher average rent than $3,463. Out of all the neighborhoods in or near Miami, Flamingo - Lummus has the most affordable average rent at $2,200 per month. Whereas, at $13,500 average rent per month, Venetian Islands is the most expensive neighborhood in or near Miami. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Flamingo - Lummus, Miami Beach, FL	$1,800	$2,200	$4,400	$2,200
East Little Havana, Miami, FL	$1,700	$2,025	$2,576	$2,500
Flagami, Miami, FL	$1,500	$1,985	$2,550	$2,550
Normandy Isles, Miami Beach, FL	$1,900	$2,125	$2,575	$2,550
West Little Havana, Miami, FL	$1,650	$1,900	$2,690	$2,650
Treasure Island, North Bay Village, FL	$2,000	$2,325	$2,950	$2,800
Golden Shores Ocean Boulevard Estates, Sunny Isles Beach, FL	N/A	$2,600	$3,300	$2,900
California Club, Ives Estates, FL	N/A	$1,750	$2,225	$2,995
Cutler Bay, FL	N/A	$1,725	$2,400	$3,000
Little Haiti, Miami, FL	$1,625	$1,888	$2,650	$3,000
Glenvar Heights, FL	N/A	$1,975	$2,800	$3,000
Hallandale Beach, FL	$1,925	$2,300	$3,450	$3,200
Upper East Side, Miami, FL	$1,650	$2,250	$2,650	$3,275
City Center, Miami Beach, FL	$2,800	$3,200	$7,000	$3,300
Coral Way, Miami, FL	$1,800	$2,200	$3,100	$3,425
Downtown Miami, Miami, FL	$2,750	$3,050	$4,300	$3,500
West Avenue, Miami Beach, FL	$2,350	$3,300	$4,850	$3,570
Media and Entertainment District, Miami, FL	$2,475	$3,100	$4,500	$3,600
Wynwood, Miami, FL	$2,555	$3,425	$5,000	$4,000
Bay Harbor Islands, FL	N/A	$2,625	$4,300	$4,350
Brickell, Miami, FL	$2,975	$3,500	$5,000	$4,463
Edgewater, Miami, FL	$1,900	$3,300	$5,800	$5,228
Altos Del Mar, Surfside, FL	$2,800	$2,950	$5,450	$5,500
Park West, Miami, FL	$3,700	$3,800	$5,700	$5,900
Bayshore, Miami Beach, FL	$2,398	$2,700	$6,400	$7,500
South Pointe, Miami Beach, FL	$1,925	$3,900	$8,700	$7,900
Northeast Coconut Grove, Miami, FL	$2,500	$2,900	$8,350	$8,350
Village of Key Biscayne, Key Biscayne, FL	$14,200	$3,500	$7,000	$8,500
Bal Harbour, FL	$3,000	$3,500	$10,500	$8,700
Venetian Islands, Miami Beach, FL	N/A	$4,000	$5,900	$13,500

Top Counties Near Miami

There are a total of 38 counties located by 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 $3,525. 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 $2,798. Vice versa, with an average rent of $8,500, Key Biscayne, FL is the most expensive county by Miami, FL.

Typically, rent for studios in Miami, FL is 23.04% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Miami, FL is 30.97% more expensive than other counties nearby. Finally, rent for two bedrooms in Miami, FL is 39.66% 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	$1,450	$1,500	$2,300	$2,798
Hialeah, FL	$1,400	$1,850	$2,400	$2,800
Kendale Lakes-Tamiami, FL	$1,500	$1,900	$2,500	$3,000
Hallandale Beach, FL	$1,850	$2,300	$3,499	$3,350
North Westside, FL	$2,100	$2,300	$2,650	$3,450
Miami, FL	$2,150	$2,800	$3,800	$3,600
South Westside, FL	$1,225	$1,600	$2,400	$3,813
Kendall-Palmetto Bay, FL	$1,850	$1,980	$2,600	$3,900
Miami Beach, FL	$2,200	$2,850	$5,400	$4,500
Key Biscayne, FL	$14,200	$3,500	$7,000	$8,500

Top Zipcodes Near Miami

There are a total of 49 zipcodes in or near Miami, FL. The average rent for all of these zipcodes is $3,250. 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 $1,950 per month. In comparison, the zipcode with the most expensive average rent of $8,500 per month is 33149, Key Biscayne, FL.

Studios in these zipcodes have an average rent of $1,600. 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 Miami, FL is $2,050 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,788 per month. Which comes out to $3 per sqft. The following chart includes the top 10 zipcodes in Miami, FL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
33139, Miami Beach, FL	$2,487	$3,000	$7,000	$3,900
33160, North Miami Beach, FL	$2,200	$2,350	$4,500	$5,000
33141, Miami Beach, FL	$1,800	$2,500	$3,900	$3,100
33131, Miami, FL	$2,950	$3,499	$5,200	$4,400
33009, Hallandale Beach, FL	$1,925	$2,300	$3,500	$3,325
33132, Miami, FL	$2,675	$3,200	$4,500	$3,925
33140, Miami Beach, FL	$2,500	$3,000	$4,500	$4,500
33137, Miami, FL	$2,398	$3,300	$5,159	$4,950
33180, Aventura, FL	N/A	$2,525	$3,500	$3,825
33130, Miami, FL	$2,350	$3,100	$4,288	$3,800

Frequently Asked Questions - Miami Average Rents

What is the average rent price in Miami, FL?

The average monthly rental price for Miami, FL apartments for rent is approximately $3,900. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 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 Miami, FL.

How much is a studio apartment in Miami, FL?

The average monthly rental price for studio apartments is $2,404 and an average price per square feet of $4.76. There are a total of 170 studio apartment listings currently available for rent in Miami.

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

The average monthly rental price for one bedroom apartments is $3,100 and an average price per square feet of $4.08. There are a total of 949 one bedroom apartment listings currently available for rent in Miami.

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

The average monthly rental price for two bedroom apartments is $4,350 and an average price per square feet of $3.87. There are a total of 1,136 two bedroom apartment listings currently available for rent in Miami.

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

Rent prices for rentals in Miami, FL can fluctuate yearly. Specifically, studio rental prices have changed by 0.10%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by 0.06%, and three bedroom rental prices have changed by 0.21% year-over-year.

What is a reasonable rent price in Miami, FL?

A reasonable rent price in Miami, FL is around $3,120/month. You can search for these reasonably priced rental listings on RentHop.