Median rents, rental comps, and market trends across 15 zip codes in Miami, FL.
No state income tax and half of New York's five-year plan. International money, Northeast transplants, and Latin American wealth have turned Miami into one of the most competitive rental markets in the country. Rent estimates here move fast — if you're pricing based on last quarter's data, you're already behind.
Median Asking Rent
$2,964
Rent Change (YoY)
-5.6%
Avg Days on Market
67
Active Rental Listings
7,573
Median List Price
$625,000
Average across 15 zip codes
ZIP | Median Rent |
|---|---|
| 33137 | $4,100/mo |
| 33132 | $3,600/mo |
| 33130 | $3,300/mo |
| 33133 | $3,100/mo |
| 33155 | $3,100/mo |
| 33134 | $2,910/mo |
| 33145 | $2,790/mo |
| 33139 | $2,700/mo |
| 33186 | $2,700/mo |
| 33166 | $2,600/mo |
| 33196 | $2,500/mo |
| 33176 | $2,350/mo |
| 33142 | $2,300/mo |
| 33125 | $2,200/mo |
| 33161 | $2,100/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,700/mo |
| 1 Bedroom | $2,000/mo |
| 2 Bedroom | $2,700/mo |
| 3 Bedroom | $3,998/mo |
| 4 Bedroom | $5,000/mo |
Aggregated median across all Miami zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 33133 | $1,781,325 |
| 33134 | $1,250,000 |
| 33145 | $890,000 |
| 33137 | $849,000 |
| 33155 | $800,000 |
| 33130 | $649,900 |
| 33125 | $625,000 |
| 33132 | $625,000 |
| 33196 | $625,000 |
| 33166 | $624,900 |
| 33161 | $605,000 |
| 33176 | $565,000 |
| 33186 | $545,000 |
| 33142 | $525,000 |
| 33139 | $500,000 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $2,030/mo |
| 1 Bedroom | $2,220/mo |
| 2 Bedroom | $2,710/mo |
| 3 Bedroom | $3,480/mo |
| 4 Bedroom | $4,020/mo |
Fair Market Rents are published annually by HUD for the Miami metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Miami, FL is currently $2,964/month, based on active rental listings across 15 zip codes. Median asking rents have decreased by -5.6% over the past 12 months.
Asking rents vary significantly across the city. ZIP 33137 has the highest median asking rent at $4,100/month, while ZIP 33161 comes in at $2,100/month.
Rental listings in the area spend an average of 67 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Miami metro area is $2,710/month. Current median asking rents are above the FMR, which is common in growing markets.
Miami has become one of the most competitive rental markets in the US. Finance, tech, and crypto companies have relocated here. Wealthy transplants from New York, California, and Latin America drive demand at the high end, while a large service-industry workforce needs affordable housing. Brickell, Wynwood, and Coconut Grove are premium. Hialeah, Kendall, and Homestead are more affordable. The no-state-income-tax thing drives a lot of the migration. What catches landlords off guard is insurance — same as the rest of Florida, but worse in Miami-Dade because of hurricane exposure. Condo associations can also complicate things if you're renting out a unit. Make sure you're factoring in the full cost structure, not just the rent.
Want to look up rental comps and rent estimates for a specific property in Miami? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in Miami, FL. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.