Miami World Tower
710 NE 1st Ave,
Miami, FL 33132
Studio - 2 Beds | $2,540 - $6,465
Rental Market Trends in Miami, FL
What is the average rent in Miami, FL?
$2,160/month
Average Rent
692 Sq Ft
Average Apartment Size
+0.9%
Increase in the Last Year
As of April 2025, the average rent in Miami, FL is $2,160 per month. This is 37% higher than the national average rent price of $1,575/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 $2,059 per month for a studio, $2,160 for a one-bedroom apartment, and around $2,752 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,615 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Miami, FL?
In the past year, rent has increased by 0.9%, which averages out to $19 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2025
Legend
2024
2025
Rent Ranges in Miami, FL
Last Updated April 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
17%
$700 - $1,000/month
27%
$1,001 - $1,500/month
17%
$1,501 - $2,000/month
34%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Miami?
Based on current rent prices, Kendale Lakes/Kendall West, The Hammocks and Biscayne Gardens East are the most affordable neighborhoods in Miami.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Miami?
Based on current rent prices, Park West, Brickell and Bayfront Park are the most expensive neighborhoods in Miami.
Neighborhood
Average Rent
Average Sq Ft
Which Miami neighborhoods have the most rentals available?
The neighborhoods in Miami with the most apartments available are Downtown Miami, Brickell and Midtown Miami .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Miami, FL?
Because the average rent in Miami is $2,160, you’ll want to make about $7,200 per month or $86,400 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.
Cost of Living
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 $2,059 - $3,615. You can expect to pay 6.7% more for groceries, 4.0% more for utilities, and 1.3% more for transportation.
How does Miami, FL compare to other nearby cities and neighborhoods?
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.
Studio
$1,181/month
$2,730/month
One Bedroom
$1,735/month
$3,498/month
Two Bedroom
$2,259/month
$3,884/month
Three Bedroom
$2,810/month
$4,223/month
Nearby City Rent Trends
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TRG Management
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Legacy Residential Group
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15
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Bozzuto
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376
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152
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AIR Communities
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94
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34,247
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55
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AMLI Residential
-
57
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31
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Methodology
† 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.