Miami World Tower
710 NE 1st Ave,
Miami, FL 33132
Studio - 2 Beds | $2,550 - $6,490
$2,162/month
Average Rent
690 Sq Ft
Average Apartment Size
+0.8%
Increase in the Last Year
As of April 2025, the average rent in Miami, FL is $2,162 per month. This is 33% higher than the national average rent price of $1,623/month, making Miami one of the most expensive cities in the US. When you rent an apartment in Miami, you can expect to pay about $2,069 per month for a studio, $2,162 for a one-bedroom apartment, and around $2,768 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,611 or more.
In the past year, rent has increased by 0.8%, which averages out to $18 more per month.
Based on current rent prices, The Hammocks, Kendale Lakes/Kendall West and Flagami are the most affordable neighborhoods in Miami.
Based on current rent prices, Park West, Brickell and Bayfront Park are the most expensive neighborhoods in Miami.
The neighborhoods in Miami with the most apartments available are Downtown Miami, Brickell and Midtown Miami .
Because the average rent in Miami is $2,162, you’ll want to make about $7,206 per month or $86,472 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
The cost of living in Miami, FL is 18.7% higher than the national average. Generally, housing in Miami is 54.4% more expensive than the national average, with rent falling between $2,069 - $3,611. You can expect to pay 6.7% more for groceries, 4.0% more for utilities, and 1.3% more for transportation.
Use the tool below to compare Miami, FL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.