Miami World Tower
700 NE 1st Ave,
Miami, FL 33132
Studio - 2 Beds | $2,755 - $5,985
Rental Market Trends in Miami, FL
What is the average rent in Miami, FL?
$2,134/month
Average Rent
693 Sq Ft
Average Apartment Size
+2.2%
Increase in the Last Year
As of December 2024, the average rent in Miami, FL is $2,134 per month. This is 37% higher than the national average rent price of $1,560/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 $2,015 per month for a studio, $2,134 for a one-bedroom apartment, and around $2,713 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,584 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 2.2%, which averages out to $47 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 December 2024
Legend
2023
2024
Rent Ranges in Miami, FL
Last Updated December 2024
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
18%
$700 - $1,000/month
28%
$1,001 - $1,500/month
18%
$1,501 - $2,000/month
33%
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 Flagami 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 $2,134, you’ll want to make about $7,113 per month or $85,356 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.
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
$1,177/month
$2,778/month
One Bedroom
$1,708/month
$3,444/month
Two Bedroom
$2,101/month
$3,765/month
Three Bedroom
$2,815/month
$4,274/month
Apartment communities in Miami we think you'll love
Property Management Companies in Miami, FL
Legacy Residential Group
-
27
Communities
-
4,648
Units
-
13
Cities
20 Communities in Miami
Greystar
-
3,191
Communities
-
884,976
Units
-
829
Cities
19 Communities in Miami
ZRS Management
-
274
Communities
-
81,588
Units
-
113
Cities
14 Communities in Miami
J. Milton & Associates
-
19
Communities
-
7,354
Units
-
9
Cities
13 Communities in Miami
RKW Residential Management
-
53
Communities
-
13,310
Units
-
24
Cities
12 Communities in Miami
Gator Investments
-
18
Communities
-
1,757
Units
-
13
Cities
12 Communities in Miami
TRG Management
-
27
Communities
-
8,817
Units
-
17
Cities
9 Communities in Miami
Willow Bridge
-
678
Communities
-
185,722
Units
-
310
Cities
8 Communities in Miami
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Methodology
† 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.
* Percentages may not total 100 due to rounding.