Rents are 4% below what Coral Gables's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,345 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in Coral Gables usually run 0.8% below trend in December and 0.7% above it in June, about $50 a month apart at today's median. Based on 11 years of data.
Rent in Coral Gables is at its highest level since Zillow's records here began in January 2015.
Rent in Coral Gables changed +3.9% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in Coral Gables rose 58.2% while median household income rose 33.1% ($100,843 to $134,216). Rent outpaced income.
Rent in Coral Gables is 65.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 6 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($134,216) is $3,355 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($3,045); a 3-bedroom is $3,935.
West Miami, 2 miles away, rents for 27% less ($2,456/mo), about $10,700 a year in savings.
From Zillow's monthly rent index (ZORI) for Coral Gables. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Coral Gables, FL is majority owner-occupied, has a median income above the national average, 73.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Coral Gables, FL has changed in 5 years
Rent in Coral Gables, FL has increased 58.1% since 2021, going from about $2,116 per month to roughly $3,345 today. Census figures show median household income at $134,216 today, compared with $113,623 five years earlier. Rent outpaced income growth by roughly 40.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 49,269 to 49,802 between 2021 and 2024, a 1.1% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 71.5% to 73.6%. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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Can you afford rent in Coral Gables on your salary?
At $3,345/mo, how Coral Gables rent compares to typical pay (30% rule).
Coral Gables rent by bedroom count
Median rent for each apartment size in Coral Gables. Click any size for full breakdown.
Tips for renters in Coral Gables
Last updated: October 17, 2026
The median rent in Coral Gables is $3,345/mo as of October 2026. A studio apartment averages $2,235/mo while a 2-bedroom runs $3,045/mo. One-bedroom apartments average $2,480/mo and 3-bedroom units go for $3,935/mo.
At 30% of local median household income ($134,216/yr), Coral Gables ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.0% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Coral Gables?
At $3,345/mo, rent takes ~30% of Coral Gables's median household income ($134,216/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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