How much does it cost to rent in Miami, FL?

As of August 2026, the median monthly rent in Miami, FL is $3,008. This figure is based on aggregated data from public sources and community-submitted rents.

Is Miami cheaper than other Florida cities?

Miami is one of the pricier cities in Florida, ranking #29 out of 291 cities tracked at $3,008/mo.

When was Miami rent data last updated?

Miami rent data reflects August 2026 and was last refreshed on August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.

What is the Fair Market Rent in Miami, FL?

HUD sets the Fair Market Rent for a two-bedroom home in Miami, FL at $2,584 per month, which is 14% below the $3,008 market median. Fair Market Rent is the Housing Choice Voucher (Section 8) payment standard. It is a 40th-percentile gross rent that includes essential utilities such as electricity, water, gas, sewer, and trash, and HUD updates it once a year, so it measures something different from current market asking rent.

Ryan Spencer / Unsplash

City Report · FL

Miami

Name: Average Rent Prices in Miami, FL
Creator: RentDataNow
License: https://creativecommons.org/licenses/by/4.0/

Pop. 459,745·29th most expensive in Florida·One of the pricier rental markets in the US

Median rent (all units)

$3,008/mo

Year-over-Year

+1.5%

Month-over-Month

+0.1%

vs US Median

+$1,046

Stable (Monthly)

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Most AffordableMost Expensive

Miami · $3,008

More expensive than 91% of US cities · National median $1,962/mo

Rent Reality Score

66/100

Good value

OverheatedFairGreat value

Rents are 8% below what Miami's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$3,008/mo

Expected by trend

$3,277/mo

The Rent Reality Score compares today's median rent to where Miami's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,893

1 BR

$2,103

2 BR

$2,584

3 BR

$3,341

4 BR+

$3,925

Fair Market Rent (HUD)

$2,584/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $3,008 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 →

Rent trends

12-month history

Loading…

Last updated: August 17, 2026

Annual cost

$36,096/yr

At $3,008/mo median

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+1.5% YoY, +0.1% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Miami, FL is majority renter-occupied, has a median income below the national average, 37.4% of residents hold a bachelor's degree or higher.

Population

459,745

Median income

$62,462

Median age

39.3

Renters

69.2%

Age distribution

16.5%

25.8%

28.7%

13%

15.9%

Under 1816.5%

18–3425.8%

35–5428.7%

55–6413%

65+15.9%

Gender

50.8%

49.2%

Male50.8%

Female49.2%

Race & ethnicity

23.1%

71.5%

White23.1%

Black12.6%

Hispanic71.5%

Asian1.7%

Education (25+)

18.7%

25.3%

18.6%

37.4%

No HS diploma18.7%

HS diploma25.3%

Some college18.6%

Bachelor's+37.4%

Housing tenure

30.8%

69.2%

Owner30.8%

Renter69.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Miami, FL has changed in 5 years

Rent

$2,073 → $3,008

up 45.1%

Income

$47,860 → $62,462

up 30.5%

Population

440,807 → 459,745

up 4.3%

Renter share

70% → 69.2%

-0.8 pts

Bachelor's+

33.1% → 37.4%

+4.3 pts

Median age

39.9 → 39.3

-0.6 yrs

Across the past five years, the going rent in Miami, FL has shifted from $2,073 to $3,008, up 45.1% since 2021. Household income in the area moved from $47,860 to $62,462 across the same window, up 30.5% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Miami, FL adding about 18,938 residents over the five-year window, up 4.3% on net. Bachelor's-degree-or-higher attainment moved from 33.1% to 37.4% across the same window. Reading these numbers side by side helps frame whether current listings in Miami, FL look reasonable against where the market sat half a decade ago.

Community

Discussions about Miami

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View Miami rent history (2015–2026) →

Salary vs rent

Can you afford rent in Miami on your salary?

At $3,008/mo, how Miami rent compares to typical pay (30% rule).

Registered Nurse

Avg $87,866/yr · Rent = 41.1% income

rent-burdened

Elementary School Teacher

Avg $62,384/yr · Rent = 57.9% income

severely rent-burdened

Police Officer

Avg $71,861/yr · Rent = 50.2% income

severely rent-burdened

Software Developer

Avg $128,442/yr · Rent = 28.1% income

affordable

Lawyer

Avg $164,117/yr · Rent = 22% income

affordable

Firefighter

Avg $58,413/yr · Rent = 61.8% income

severely rent-burdened

Truck Driver

Avg $52,740/yr · Rent = 68.4% income

severely rent-burdened

Electrician

Avg $65,007/yr · Rent = 55.5% income

severely rent-burdened

By apartment size

Miami rent by bedroom count

Median rent for each apartment size in Miami. Click any size for full breakdown.

Local insights

Tips for renters in Miami

About renting in Miami, FL

Last updated: August 17, 2026

The median rent in Miami is $3,008/mo as of August 2026. A studio apartment averages $1,893/mo while a 2-bedroom runs $2,584/mo. One-bedroom apartments average $2,103/mo and 3-bedroom units go for $3,341/mo.

At 58% of local median household income ($62,462/yr), Miami ranks as expensive compared to the national benchmark of 30%. Rents have increased 1.5% over the past year.

FAQ

Frequently asked questions

Is Miami an affordable city for renters?

Miami is considered expensive for renters. At $3,008/mo, rent takes approximately 58% of the local median household income ($62,462/yr). The standard benchmark is 30%. Miami significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Miami?

To keep rent at or below 30% of gross income, you would need to earn at least $120,000/year (~$58/hour full-time) to afford the median rent of $3,008/mo in Miami. The local median household income is $62,462/yr, meaning the typical Miami household falls short of that threshold.

Is rent going up or down in Miami?

Rent in Miami has increased 1.5% over the past year as of August 2026, putting upward pressure on renter budgets.

Which Miami neighborhoods have the lowest rent?

The most affordable ZIP codes in Miami are 33135 ($2,051/mo), 33176 ($2,301/mo), and 33144 ($2,322/mo). Citywide, the median rent in Miami is $3,008/mo.

How does Miami rent compare to other cities in Florida?

Miami is one of the pricier cities in Florida for rent, ranking #29 out of 291 tracked cities at $3,008/mo.

Which nearby cities are cheaper to rent in than Miami?

Several nearby cities have lower median rents than Miami ($3,008/mo): Gladeview ($2,167/mo), Brownsville ($2,482/mo), Miami Beach ($2,851/mo).

What percentage of Miami residents rent vs. own?

According to Census data, approximately 69.2% of Miami households are renters, while 30.8% are owner-occupied. With a majority renter population, Miami has a strong rental market.

How does Miami rent compare to the national average?

Miami's median rent of $3,008/mo is $1,046 (53%) above the US national median of $1,962/mo. Within Florida, it ranks #29 out of 291 tracked cities.

Income Affordability

58%

EXPENSIVE

At $3,008/mo, rent takes ~58% of Miami's median household income ($62,462/yr). The standard benchmark is 30%.

Miami 58%Benchmark 30%

State income taxNone

Run the Miami affordability calculator →

Nearby cities