According to our most recent national rent report, Miami rounded out the top 10 markets as the tenth most expensive city with one bedroom rent falling 1.2% to $1,750, while two bedrooms increased a slight 0.4% to $2,380. On a year over year basis, prices for both bedroom types are down, 2.8% and 5.2%, respectively.
While Flagler and Sunrise Point had the fastest growing rents last quarter, up 11% and 10%, respectively, Industrial Section and Venetian Islands saw the biggest rent dips, both down around 12%.
Fisher Island rent hit $6,000 for one bedroom units and held onto its position as the priciest this spring. Park West and City Center tied for second with prices at $2,400, which was followed by Wynwood at $2,220. Notably, Venetian Islands dropped 2 spots this quarter to rank as the fourth most expensive.
More affordable rentals still close to bustling downtown can be found in East Little Havana ($1,300) and Overtown ($1,300).
If you’re interested in how Miami’s rents compare with the rest of the nation’s, check out Zumper’s May National Rent Report, which analyzes over 1 million active listings available in the prior month.
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For a refresher on why and how we analyze our rental data, view our methodology blog post here.
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