The Miami rental market has risen steadily over the past few months, with asking rents increasing 1.6% in June and 7.4% in the past quarter. Such changes have now positioned the city in a tie for the 6th most expensive market in the country alongside Chicago, with a median of $1,880 for a one bedroom apartment. On our list of prices across the 50 largest metro areas in the US, Miami came ahead of Oakland, Los Angeles, and Seattle.
At a neighborhood level, the most expensive areas to rent in the past quarter included Fisher Island ($4,800), Park West ($2,625), and South Pointe ($2,300). Other higher priced areas were found along the shoreline, as prices on the water tended, on average, to run $800-$1,000 more for a one bedroom compared with inland areas. More affordable neighborhoods were found toward the northwest of our map, including Brownsville ($620), Liberty City ($680), and Gladeview ($730).
If you’re interested in seeing how Miami stacks up to the rest of the United States, view our National Rent Report for July, which analyzes over 1 million active listings available in the prior month.
To keep up to date with rent changes across the country, like or follow us on Facebook ou Gazouillement. In the market for a new place? Search over 2,250 Miami apartments for rent on Zumper.
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