Tied with Honolulu, Miami was the 9th most expensive rental market in the nation this month. The price of one bedroom units remained flat at $1,800, while two bedrooms grew a slight 0.4% to $2,510. Since this time last year, rent for both bedroom types are down over 4%.
Nautilus and Flagami had some of the fastest growing rents this quarter, both up over 7%.
Park West ($2,350), Brickell ($2,100), and Wynwood ($2,090) were the most expensive neighborhoods to rent in Miami this spring. Moving away from the water, more affordable rentals priced at around $1,200 could be found in Melrose Heights, Essex Village, and Miami Shores.
In Miami Beach, the priciest areas were City Center ($2,300), and South Pointe ($2,200), and Oceanfront ($2,000).
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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