The median asking rent across 22 Miami zip codes is $2,932/month, down 3.8% from a year ago.
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 move fast here. Last quarter's data is already stale.
Median Asking Rent
$2,932
Rent Change (YoY)
-3.8%
Avg Days on Market
63
Active Rental Listings
9,299
Median List Price
$639,500
Average across 22 zip codes
ZIP | Median Rent |
|---|---|
| 33137 | $4,113/mo |
| 33133 | $3,550/mo |
| 33132 | $3,500/mo |
| 33130 | $3,350/mo |
| 33155 | $3,250/mo |
| 33139 | $2,995/mo |
| 33134 | $2,900/mo |
| 33186 | $2,900/mo |
| 33145 | $2,871/mo |
| 33166 | $2,800/mo |
| 33127 | $2,768/mo |
| 33196 | $2,700/mo |
| 33147 | $2,500/mo |
| 33144 | $2,499/mo |
| 33142 | $2,300/mo |
| 33143 | $2,300/mo |
| 33138 | $2,295/mo |
| 33125 | $2,250/mo |
| 33126 | $2,200/mo |
| 33176 | $2,200/mo |
| 33135 | $2,000/mo |
| 33161 | $1,985/mo |
Comps for any address in Miami
Type the address, get the comps. No setup.
| Unit Size | Median Rent |
|---|---|
| Studio | $1,648/mo |
| 1 Bedroom | $1,850/mo |
| 2 Bedroom | $2,455/mo |
| 3 Bedroom | $3,700/mo |
| 4 Bedroom | $4,525/mo |
Aggregated median across all Miami zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 33133 | $1,799,000 |
| 33143 | $1,430,000 |
| 33134 | $1,200,000 |
| 33138 | $973,000 |
| 33127 | $925,000 |
| 33135 | $920,000 |
| 33145 | $850,000 |
| 33137 | $825,000 |
| 33155 | $800,000 |
| 33144 | $715,000 |
| 33125 | $650,000 |
| 33130 | $629,000 |
| 33196 | $626,000 |
| 33132 | $610,000 |
| 33166 | $599,999 |
| 33161 | $595,000 |
| 33176 | $589,000 |
| 33186 | $550,000 |
| 33142 | $539,000 |
| 33147 | $500,000 |
| 33139 | $499,000 |
| 33126 | $300,000 |
| 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 |
HUD publishes Fair Market Rents once a year for the Miami metro area. Local housing authorities use them to set Section 8 voucher payment standards, usually 90% to 110% of the FMR.
The median asking rent across Miami, FL sits at $2,932/month, pulled from active rental listings in 22 zip codes. That's down 3.8% from a year ago.
Rents aren't uniform across the city. ZIP 33137 tops the list at $4,113/month. ZIP 33161 comes in lowest at $1,985/month. That's a 107% spread between the top and bottom zip codes, which is wide. City-wide averages won't tell you much about a specific property here.
A 2-bedroom rents for $2,455/month at the median. 1-bedrooms run about $1,850. 3-bedrooms come in around $3,700.
Listings take longer here. The average is 63 days on market, which gives renters more room to negotiate and means landlords should price carefully.
Rent-to-price math is tight in Miami. The gross figure sits at about 5.5% ($2,932/month against $639,500 median price). Most investors here are betting on appreciation, not monthly cash flow.
HUD's Fair Market Rent for a 2-bedroom in the Miami metro is $2,710/month. Asking rents track close to the federal benchmark, within 8%.
Miami has become one of the most competitive rental markets in the US. Finance, tech, and crypto firms have relocated here. Wealthy transplants from New York, California, and Latin America drive demand at the high end, and a large service-industry workforce drives demand for affordable housing. Brickell, Wynwood, and Coconut Grove are premium. Hialeah, Kendall, and Homestead are cheaper. The no-state-income-tax pull is real and consistent. Insurance catches landlords off guard, same as the rest of Florida, but worse in Miami-Dade because of hurricane exposure. Condo association rules can also limit your rental strategy, so check those before you buy. Underwrite the full cost structure, not just the rent.
These numbers are city-wide averages. If you're pricing a specific property in Miami, pull comps from the same zip code. The spread is usually bigger than people expect.
City-wide medians are the headline. The comps that actually price a property come from the block it's on. Search any Miami address to see them.
17 zip codes
17 zip codes
17 zip codes
20 zip codes
17 zip codes
22 zip codes
What rental comps actually are, what makes one good or weak, and how to use them to price a rental without guessing.
What HUD's fair market rent actually means, how it ties into Section 8, and when it should change how you price a rental.
A step-by-step approach to pricing a rental so it fills fast and doesn't leave money on the table.