Coming ahead of Honolulu, San Diego, and Chicago, Miami ranked as the 9th most expensive rental market in the nation. The price of one bedroom units fell 2.8% to a median of $1,750, while two bedrooms decreased a slight 0.8% to $2,430.
While Gladeview & Little Haiti had the fastest growing rents since last quarter, both up around 13%, Northeast Coconut Grove and Normandy Isles saw the biggest rent dips, both down over 12%.
At a median of $6,000 a month for one bedrooms, Fisher Island continued to rank as the most expensive area to rent this fall. Park West ($2,400), Venetian Islands ($2,400), and South Pointe ($2,360) followed suit as the next priciest places. More affordable rentals, priced around $1,500, could be found in Riviera, Nautilus, and Upper East Side.
The least expensive neighborhoods were all priced under $1,000 and included Brownsville, Pinewood Park, and Liberty City.
If you’re interested in how Miami’s rents compare with the rest of the nation’s, check out Zumper’s November 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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