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 $24,000 for a 4-bedroom rental. The median price of all currently available listings is $4,100, 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 $167 (6.85%) year-over-year from $2,433 to $2,600. 1-bedroom rentals prices have increased by $150 (4.84%) year-over-year from $3,100 to $3,250. 2-bedroom rentals prices have increased by $432 (10.06%) year-over-year from $4,293 to $4,725. 3-bedroom rentals prices have increased by $283 (3.82%) year-over-year from $7,417 to $7,700. 4-bedroom rentals prices have increased by $7,867 (55.66%) year-over-year from $14,133 to $22,000. 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 3.68% this month. 1-bedroom rents have gone up by 2.90% this month. 2-bedroom rents have gone up by 1.80% this month. 3-bedroom rents have gone up by 2.21% this month. 4-bedroom rents have gone up by 3.94% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$5.06	$2,600	$2,433 (6.85%)	$1,800 (44.44%)
1 BR	$4.22	$3,250	$3,100 (4.84%)	$2,217 (46.62%)
2 BR	$4.16	$4,725	$4,293 (10.06%)	$3,217 (46.89%)
3 BR	$5.03	$7,700	$7,417 (3.82%)	$5,817 (32.38%)
4+ BR	$6.44	$22,000	$14,133 (55.66%)	$25,317 (-13.10%)

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 29 cities nearby Downtown Miami. The average rent in Downtown Miami is currently $3,000 per month. A total of 22 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 Bal Harbour, FL. Monthly rents here are on average $11,000 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 46.23% more expensive than other cities nearby. One bedrooms are about 39.39% more expensive. Two bedrooms in Downtown Miami, Miami, FL are about 47.42% more expensive. Finally, rent for three bedrooms are about 43.88% more expensive. Want more information? Check out the top 10 cities out of 29 total cities near Downtown Miami, Miami, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
North Miami, FL	$1,563	$1,800	$2,500	$2,260
Glenvar Heights, FL	N/A	$1,988	$3,054	$2,800
North Bay Village, FL	$1,950	$2,350	$3,500	$3,195
Miami Beach, FL	$2,200	$2,963	$5,200	$3,900
Miami, FL	$2,350	$3,100	$4,350	$3,900
Bay Harbor Islands, FL	N/A	$2,400	$4,150	$4,000
Coral Gables, FL	$1,950	$2,374	$3,800	$4,500
Surfside, FL	$2,750	$2,900	$5,200	$5,400
Key Biscayne, FL	$14,200	$3,600	$6,975	$8,500
Bal Harbour, FL	$3,000	$3,950	$11,000	$11,000

Top Neighborhoods Near Downtown Miami

There are a total of 36 neighborhoods in or near Downtown Miami. Some of these neighborhoods include Flamingo - Lummus, Allapattah, and East Little Havana. We've included the top 30 neighborhoods out of 36 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 $3,450 per month. A total of 23 neighborhoods have a lower average rent. Meaning, only seven neighborhoods have a higher average rent than $3,450. Out of all the neighborhoods in or near Downtown Miami, Flamingo - Lummus has the most affordable average rent at $2,200 per month. Whereas, at $11,000 average rent per month, Bal Harbour is the most expensive neighborhood in or near Downtown Miami. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Flamingo - Lummus, Miami Beach, FL	$1,800	$2,200	$4,575	$2,200
Allapattah, Miami, FL	$1,750	$2,100	$2,450	$2,350
East Little Havana, Miami, FL	$1,700	$1,990	$2,576	$2,450
Normandy Isles, Miami Beach, FL	$2,000	$2,100	$2,550	$2,550
Flagami, Miami, FL	$1,500	$1,995	$2,600	$2,550
West Little Havana, Miami, FL	$1,650	$1,875	$2,673	$2,600
Treasure Island, North Bay Village, FL	$1,970	$2,350	$2,975	$2,800
Glenvar Heights, FL	N/A	$1,988	$3,054	$2,800
Little Haiti, Miami, FL	$1,625	$1,900	$2,600	$3,000
Upper East Side, Miami, FL	$1,650	$2,300	$2,650	$3,200
South Miami, FL	N/A	$2,075	$3,000	$3,275
City Center, Miami Beach, FL	$2,800	$3,200	$7,000	$3,300
Coral Way, Miami, FL	$1,775	$2,225	$3,100	$3,375
Downtown Miami, Miami, FL	$2,700	$3,000	$4,350	$3,500
West Avenue, Miami Beach, FL	$2,400	$3,284	$4,800	$3,528
Media and Entertainment District, Miami, FL	$2,450	$3,050	$4,500	$3,600
Bay Harbor Islands, FL	N/A	$2,400	$4,150	$4,000
Wynwood, Miami, FL	$2,555	$3,500	$4,950	$4,100
Brickell, Miami, FL	$3,000	$3,500	$5,000	$4,400
Edgewater, Miami, FL	$1,900	$3,200	$5,800	$5,206
Altos Del Mar, Surfside, FL	$2,750	$2,925	$5,450	$5,500
Park West, Miami, FL	$3,700	$3,800	$5,500	$5,800
Southwest Coconut Grove, Miami, FL	$2,500	$3,000	$4,525	$6,950
Bayshore, Miami Beach, FL	$2,398	$2,600	$6,300	$7,795
Northeast Coconut Grove, Miami, FL	$2,500	$2,950	$7,925	$7,900
South Pointe, Miami Beach, FL	$1,875	$3,850	$8,995	$8,125
Pinecrest, FL	N/A	$2,000	$2,525	$8,450
Village of Key Biscayne, Key Biscayne, FL	$14,200	$3,600	$6,975	$8,500
Venetian Islands, Miami Beach, FL	N/A	$4,050	$5,900	$9,775
Bal Harbour, FL	$3,000	$3,950	$11,000	$11,000

Top Counties Near Downtown Miami

There are a total of 36 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 $3,520. 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 $2,725. Vice versa, with an average rent of $8,500, Key Biscayne, FL is the most expensive county by Downtown Miami, Miami, FL.

Typically, rent for studios in Downtown Miami, Miami, FL is 29.25% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Downtown Miami, Miami, FL is 34.85% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Miami, Miami, FL is 45.90% 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	$1,700	$2,250	$2,725
Hialeah, FL	$1,425	$1,875	$2,400	$2,775
Kendale Lakes-Tamiami, FL	$1,525	$1,900	$2,500	$3,000
Hallandale Beach, FL	$1,900	$2,300	$3,500	$3,425
North Westside, FL	$2,100	$2,300	$2,650	$3,450
Miami, FL	$2,050	$2,775	$3,790	$3,590
Kendall-Palmetto Bay, FL	$1,850	$2,000	$2,598	$3,800
South Westside, FL	$1,200	$1,600	$2,400	$3,800
Miami Beach, FL	$2,200	$2,850	$5,400	$4,500
Key Biscayne, FL	$14,200	$3,600	$6,975	$8,500

Top Zipcodes Near Downtown Miami

There are a total of 49 zipcodes in or near Downtown Miami, Miami, FL. The average rent for all of these zipcodes is $3,225. A total of 40 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 $2,000 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 Downtown Miami, Miami, FL is $2,056 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,725 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	$3,000	$3,500	$5,400	$4,400
33132, Miami, FL	$2,650	$3,200	$4,500	$3,950
33130, Miami, FL	$2,250	$3,100	$4,275	$3,898
33129, Miami, FL	$1,550	$2,950	$4,250	$3,900
33136, Miami, FL	$1,840	$2,200	$2,800	$2,700
33139, Miami Beach, FL	$2,450	$3,000	$7,200	$3,900
33149, Key Biscayne, FL	$14,200	$3,600	$6,975	$8,500
33145, Miami, FL	$1,675	$2,150	$2,975	$3,325
33135, Miami, FL	$1,600	$1,990	$2,550	$2,150
33137, Miami, FL	$2,345	$3,268	$5,206	$4,931

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 $4,100. 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 $5.06. There are a total of 85 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 $4.22. There are a total of 607 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 $4,850 and an average price per square feet of $4.16. There are a total of 613 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 0.07%, one bedroom rental prices have changed by 0.05%, two bedroom rental prices have changed by 0.10%, and three bedroom rental prices have changed by 0.04% 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 $3,280/month. You can search for these reasonably priced rental listings on RentHop.