Average Rent in Downtown Miami, Miami, FL

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Current Versus Historical Downtown Miami, Miami, FL Rents

Downtown Miami rentals average $2,575 for a studio rental to $21,500 for a 4-bedroom rental. The median price of all currently available listings is $4,018, or roughly $4 per square feet.
For the apartment units and housing in March 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $8 (-0.34%) year-over-year from $2,458 to $2,450. 1-bedroom rentals prices have increased by $89 (2.87%) year-over-year from $3,111 to $3,200. 2-bedroom rentals prices have increased by $365 (8.42%) year-over-year from $4,335 to $4,700. 3-bedroom rentals prices have decreased by $633 (-7.60%) year-over-year from $8,333 to $7,700. 4-bedroom rentals prices have increased by $2,917 (16.13%) year-over-year from $18,083 to $21,000. 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 0.51% this month. 1-bedroom rents have gone up by 1.59% this month. 2-bedroom rents have gone up by 4.44% this month. 3-bedroom rents have gone up by 1.09% this month. 4-bedroom rents have gone up by 3.36% this month.
Beds
Price / Sqft
Mar 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $4.88 $2,450 $2,458 (-0.34%) $1,717 (42.72%)
1 BR $4.22 $3,200 $3,111 (2.87%) $2,033 (57.38%)
2 BR $4.06 $4,700 $4,335 (8.42%) $2,917 (61.14%)
3 BR $4.77 $7,700 $8,333 (-7.60%) $5,383 (43.03%)
4+ BR $6.29 $21,000 $18,083 (16.13%) $15,500 (35.48%)

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 $3,000 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 $1,970, 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 $8,000 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 43.20% more expensive than other cities nearby. One bedrooms are about 40.82% more expensive. Two bedrooms in Downtown Miami, Miami, FL are about 46.06% more expensive. Finally, rent for three bedrooms are about 51.09% 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 $1,463 $1,800 $2,400 $2,300
Glenvar Heights, FL N/A $2,000 $2,931 $2,968
North Bay Village, FL $1,950 $2,375 $3,313 $2,974
Miami, FL $2,350 $3,100 $4,200 $3,800
Miami Beach, FL $2,300 $2,950 $5,108 $3,900
Bay Harbor Islands, FL N/A $2,725 $4,750 $4,450
Coral Gables, FL $1,800 $2,550 $3,750 $4,791
Surfside, FL $2,633 $2,950 $4,625 $5,100
Bal Harbour, FL $3,175 $3,950 $8,000 $7,000
Key Biscayne, FL $14,200 $3,700 $6,600 $8,000

Top Neighborhoods Near Downtown Miami

There are a total of 35 neighborhoods in or near Downtown Miami. Some of these neighborhoods include Altos Del Mar South, Flamingo - Lummus, and Normandy Isles. We've included the top 30 neighborhoods out of 35 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 21 neighborhoods have a lower average rent. Meaning, only nine 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 $2,100 per month. Whereas, at $12,250 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 $1,550 $1,990 $3,250 $2,100
Flamingo - Lummus, Miami Beach, FL $1,825 $2,200 $3,700 $2,200
Normandy Isles, Miami Beach, FL $1,550 $1,950 $2,775 $2,350
East Little Havana, Miami, FL $1,775 $1,990 $2,500 $2,400
Flagami, Miami, FL $1,550 $1,900 $2,575 $2,550
West Little Havana, Miami, FL $1,700 $1,950 $2,744 $2,600
Little Haiti, Miami, FL $1,600 $1,750 $2,600 $2,700
Treasure Island, North Bay Village, FL $1,900 $2,150 $2,950 $2,800
Eastern Shores, North Miami Beach, FL N/A $2,075 $2,800 $2,940
Glenvar Heights, FL N/A $2,000 $2,931 $2,968
Coral Way, Miami, FL $1,863 $2,200 $2,900 $3,275
City Center, Miami Beach, FL $2,800 $3,200 $8,500 $3,300
West Avenue, Miami Beach, FL $2,400 $3,200 $4,950 $3,400
Downtown Miami, Miami, FL $2,750 $3,000 $4,300 $3,500
Upper East Side, Miami, FL $1,525 $2,000 $2,900 $3,500
Media and Entertainment District, Miami, FL $2,500 $3,175 $4,500 $3,600
Wynwood, Miami, FL $2,593 $3,500 $4,900 $4,175
Brickell, Miami, FL $2,750 $3,500 $5,000 $4,300
Bay Harbor Islands, FL N/A $2,725 $4,750 $4,450
Edgewater, Miami, FL $2,025 $3,500 $6,000 $5,350
Altos Del Mar, Surfside, FL $2,633 $3,300 $5,000 $5,500
Northeast Coconut Grove, Miami, FL $2,200 $2,800 $5,000 $5,563
Park West, Miami, FL N/A $4,000 $5,850 $5,950
Palmetto Bay, FL N/A $1,825 $2,250 $6,100
Bayshore, Miami Beach, FL $1,900 $2,373 $6,475 $7,000
South Pointe, Miami Beach, FL $1,875 $3,500 $9,000 $7,000
Bal Harbour, FL $3,175 $3,950 $8,000 $7,000
Pinecrest, FL N/A $1,950 $2,600 $7,950
Village of Key Biscayne, Key Biscayne, FL $14,200 $3,700 $6,600 $8,000
Venetian Islands, Miami Beach, FL N/A $4,250 $5,900 $12,250

Top Counties Near Downtown Miami

There are a total of 35 counties located by Downtown Miami, Miami, FL. Some of these counties include Hialeah, FL, Miami Gardens, 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 Hialeah, FL. It's average rent per month is $2,750. Vice versa, with an average rent of $8,000, Key Biscayne, FL is the most expensive county by Downtown Miami, Miami, FL.

Typically, rent for studios in Downtown Miami, Miami, FL is 34.08% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Downtown Miami, Miami, FL is 36.84% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Miami, Miami, FL is 41.15% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Hialeah, FL $1,400 $1,850 $2,400 $2,750
Miami Gardens, FL $1,450 $1,600 $2,300 $3,000
Kendale Lakes-Tamiami, FL $1,500 $1,875 $2,450 $3,000
Hallandale Beach, FL $1,595 $2,200 $3,300 $3,200
North Westside, FL $2,000 $2,200 $2,700 $3,400
Miami, FL $2,000 $2,750 $3,600 $3,500
Kendall-Palmetto Bay, FL $1,800 $1,963 $2,588 $3,650
South Westside, FL N/A $1,650 $2,950 $3,750
Miami Beach, FL $2,295 $2,875 $5,300 $4,500
Key Biscayne, FL $14,200 $3,700 $6,600 $8,000

Top Zipcodes Near Downtown Miami

There are a total of 48 zipcodes in or near Downtown Miami, Miami, FL. The average rent for all of these zipcodes is $3,225. A total of 38 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 33169, Miami Gardens, FL at $2,000 per month. In comparison, the zipcode with the most expensive average rent of $8,000 per month is 33149, Key Biscayne, FL.

Studios in these zipcodes have an average rent of $1,500. That's at least $2 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 $2,000 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,724 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 $2,800 $3,500 $5,400 $4,350
33132, Miami, FL $2,550 $3,238 $4,500 $3,900
33130, Miami, FL $2,525 $3,050 $4,100 $3,750
33129, Miami, FL N/A $3,100 $4,325 $4,200
33136, Miami, FL $1,600 $2,050 $2,748 $2,550
33139, Miami Beach, FL $2,500 $3,000 $7,100 $3,816
33149, Key Biscayne, FL $14,200 $3,700 $6,600 $8,000
33145, Miami, FL N/A $2,200 $2,950 $3,300
33135, Miami, FL $1,500 $1,800 $2,450 $2,325
33137, Miami, FL $2,325 $3,250 $5,450 $4,800

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 $4,018. 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 $2,575 and an average price per square feet of $4.88. There are a total of 88 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 $3,295 and an average price per square feet of $4.22. There are a total of 550 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 $4,800 and an average price per square feet of $4.06. There are a total of 549 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 0.00%, one bedroom rental prices have changed by 0.03%, two bedroom rental prices have changed by 0.08%, and three bedroom rental prices have changed by -0.08% 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 $3,214/month. You can search for these reasonably priced rental listings on RentHop.
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