Miami maintained position as the 9th most expensive rental market in the United States this winter, with one bedrooms dropping 3.7% to $1,820 and two bedrooms down 1.2% to $2,520. Despite this recent decline in asking rents, Miami prices have increased a net of 7.1% in the past year.
At a neighborhood level, the most expensive areas this winter include Fisher Island ($4,550), Park West ($2,550), and the Venetian Islands ($2,500). Other expensive neighborhoods around the $2,100 range, mostly located near the Port of Miami, include Brickell, Media and Entertainment District, and West Avenue.
More affordable options can be found toward the northern portion of the city, priced between $680-$1,480. Brownsville ($680), West Little River ($950), and Miami Shores ($1,350) are some of those affordable neighborhoods.
If you’re curious about how Miami stacks up against the rest of the U.S, check out Zumper’s January 2016 National Rent Report, which analyzes over 1 million active listings available in the prior month.
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