Average Rent in Miami, FL

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Current Versus Historical Miami, FL Rents

Miami rentals average $2,300 for a studio rental to $14,500 for a 4-bedroom rental. The median price of all currently available listings is $3,700, or roughly $4 per square feet.
For the apartment units and housing in February 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $58 (2.71%) year-over-year from $2,142 to $2,200. 1-bedroom rentals prices have increased by $56 (1.92%) year-over-year from $2,912 to $2,968. 2-bedroom rentals prices have decreased by $5 (-0.13%) year-over-year from $3,900 to $3,895. 3-bedroom rentals prices have decreased by $133 (-2.37%) year-over-year from $5,633 to $5,500. 4-bedroom rentals prices have increased by $1,967 (24.48%) year-over-year from $8,033 to $10,000. 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 4.19% this month. 1-bedroom rents have gone up by 2.12% this month. 2-bedroom rents have gone up by 3.45% this month. 3-bedroom rents have gone up by 8.91% this month. 4-bedroom rents have gone up by 19.76% this month.
Beds
Price / Sqft
Feb 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $4.52 $2,200 $2,142 (2.71%) $1,670 (31.71%)
1 BR $4.03 $2,968 $2,912 (1.92%) $1,898 (56.32%)
2 BR $3.72 $3,895 $3,900 (-0.13%) $2,650 (46.98%)
3 BR $3.96 $5,500 $5,633 (-2.37%) $3,651 (50.63%)
4+ BR $5.05 $10,000 $8,033 (24.48%) $5,800 (72.41%)

Historical Rents in Miami, FL

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Miami

There are a total of 27 cities nearby Miami. The average rent in Miami is currently $2,964 per month. A total of 20 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 Key Biscayne, FL. Monthly rents here are on average $8,000 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 39.13% more expensive than other cities nearby. One bedrooms are about 33.50% more expensive. Two bedrooms in Miami, FL are about 35.25% more expensive. Finally, rent for three bedrooms are about 35.48% more expensive. Want more information? Check out the top 10 cities out of 27 total cities near Miami, FL in the following chart.
City Studio 1 Bed 2 Bed All
North Miami, FL $1,575 $1,750 $2,375 $2,300
Fountainebleau, FL N/A $2,000 $2,500 $2,600
North Bay Village, FL $1,900 $2,175 $3,200 $2,850
Hialeah, FL $1,400 $1,900 $2,400 $2,964
Glenvar Heights, FL $1,963 $2,000 $2,958 $2,979
Miami Beach, FL $2,200 $2,895 $5,158 $3,600
Coral Gables, FL $1,750 $2,200 $3,775 $4,500
Surfside, FL N/A $2,975 $4,275 $5,000
Bay Harbor Islands, FL N/A $2,800 $5,200 $5,250
Key Biscayne, FL $14,200 $3,413 $6,675 $8,000

Top Neighborhoods Near Miami

There are a total of 35 neighborhoods in or near 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 Miami, FL in the following chart.

The average rent for these 30 neighborhoods in or near Miami, FL is currently around $3,498 per month. A total of 21 neighborhoods have a lower average rent. Meaning, only nine neighborhoods have a higher average rent than $3,498. Out of all the neighborhoods in or near Miami, Altos Del Mar South has the most affordable average rent at $1,875 per month. Whereas, at $15,500 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
Altos Del Mar South, Miami Beach, FL $1,650 $1,800 $3,225 $1,875
Flamingo - Lummus, Miami Beach, FL $1,800 $2,200 $3,000 $2,200
Normandy Isles, Miami Beach, FL $1,650 $1,950 $2,800 $2,200
East Little Havana, Miami, FL $1,600 $2,000 $2,500 $2,350
Flagami, Miami, FL $1,650 $1,950 $2,500 $2,398
California Club, Ives Estates, FL N/A $1,775 $2,200 $2,500
West Little Havana, Miami, FL $1,800 $1,950 $2,600 $2,600
Little Haiti, Miami, FL $1,650 $1,913 $2,575 $2,750
Treasure Island, North Bay Village, FL $1,895 $2,100 $2,900 $2,825
Hallandale Beach, FL $1,900 $2,250 $3,100 $2,950
Coral Way, Miami, FL $1,849 $2,100 $2,950 $3,100
Cutler Bay, FL N/A $1,800 $2,300 $3,100
Golden Shores Ocean Boulevard Estates, Sunny Isles Beach, FL N/A $2,650 $3,950 $3,150
West Avenue, Miami Beach, FL $2,350 $3,100 $5,079 $3,400
City Center, Miami Beach, FL $2,800 $3,300 $12,500 $3,498
Media and Entertainment District, Miami, FL $2,500 $3,040 $4,200 $3,500
Upper East Side, Miami, FL $1,525 $2,050 $2,900 $3,500
Downtown Miami, Miami, FL $2,675 $3,000 $4,100 $3,500
Wynwood, Miami, FL $2,515 $3,525 $4,900 $4,000
Brickell, Miami, FL $2,650 $3,400 $4,925 $4,300
Altos Del Mar, Surfside, FL N/A $3,300 $4,625 $5,000
Bay Harbor Islands, FL N/A $2,800 $5,200 $5,250
Edgewater, Miami, FL $2,050 $3,450 $5,600 $5,525
Northeast Coconut Grove, Miami, FL $1,900 $2,575 $5,975 $5,600
Bayshore, Miami Beach, FL $2,000 $2,141 $5,400 $5,900
Park West, Miami, FL $4,000 $4,000 $6,000 $6,200
South Pointe, Miami Beach, FL $1,900 $3,325 $10,000 $6,375
Bal Harbour, FL $3,225 $3,550 $8,000 $7,250
Village of Key Biscayne, Key Biscayne, FL $14,200 $3,413 $6,675 $8,000
Venetian Islands, Miami Beach, FL N/A $4,500 $5,675 $15,500

Top Counties Near Miami

There are a total of 35 counties located by Miami, FL. Some of these counties include Hialeah, FL, Miami Gardens, FL, and Hallandale Beach, FL. The average rent for rentals in these counties is $3,375. 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 $2,750. Vice versa, with an average rent of $8,000, Key Biscayne, FL is the most expensive county by Miami, FL.

Typically, rent for studios in Miami, FL is 22.83% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Miami, FL is 30.15% more expensive than other counties nearby. Finally, rent for two bedrooms in Miami, FL is 31.25% 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 $1,900 $2,400 $2,750
Miami Gardens, FL $1,350 $1,600 $2,500 $2,750
Hallandale Beach, FL $1,800 $2,200 $3,175 $2,950
Kendale Lakes-Tamiami, FL $1,488 $1,775 $2,500 $3,000
North Westside, FL $1,965 $2,194 $2,650 $3,250
Miami, FL $2,000 $2,700 $3,500 $3,500
South Westside, FL N/A $1,800 $2,850 $3,500
Kendall-Palmetto Bay, FL $1,750 $1,997 $2,590 $3,500
Miami Beach, FL $2,200 $2,800 $5,200 $4,300
Key Biscayne, FL $14,200 $3,413 $6,675 $8,000

Top Zipcodes Near Miami

There are a total of 48 zipcodes in or near Miami, FL. The average rent for all of these zipcodes is $3,050. A total of 32 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 $2,100 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 $1,600. 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 Miami, FL is $2,025 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,747 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 $2,500 $3,000 $6,500 $3,750
33160, North Miami Beach, FL $2,400 $2,500 $4,200 $4,875
33141, Miami Beach, FL $1,799 $2,100 $4,000 $2,800
33131, Miami, FL $2,650 $3,400 $5,175 $4,400
33009, Hallandale Beach, FL $1,900 $2,200 $3,200 $2,950
33132, Miami, FL $2,650 $3,200 $4,300 $3,734
33140, Miami Beach, FL $2,300 $3,000 $4,950 $4,500
33137, Miami, FL $2,350 $3,300 $5,288 $5,000
33180, Aventura, FL N/A $2,599 $3,425 $3,800
33130, Miami, FL $2,450 $3,000 $3,875 $3,500

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 $3,700. 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 $2,300 and an average price per square feet of $4.52. There are a total of 173 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 $3,000 and an average price per square feet of $4.03. There are a total of 886 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 $4,000 and an average price per square feet of $3.72. There are a total of 1,107 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 0.03%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by 0.00%, and three bedroom rental prices have changed by -0.02% year-over-year.
What is a reasonable rent price in Miami, FL?
A reasonable rent price in Miami, FL is around $2,960/month. You can search for these reasonably priced rental listings on RentHop.
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