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City Report · FL

North Bay Village

Pop. 8,118·29th most expensive in Florida·North Bay Village rents are up 15.7% over the past year
Median rent (all units)
$3,000/mo
Year-over-Year
+15.7%
Month-over-Month
+1.0%
vs US Median
+$1,035
Rising (Monthly)
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Most AffordableMost Expensive
North Bay Village · $3,000
More expensive than 90% of US cities · National median $1,965/mo
Affordability
43% of income
STRETCHED
0%30% benchmark60%+

At $3,000/mo, rent takes about 43% of the local median household income, well above the 30% benchmark.

Income to afford
$120,000/yr
Local median income
$84,405/yr
Based on the 30%-of-income rule using North Bay Village's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,664
1 BR
$1,990
2 BR
$2,361
3 BR
$3,453
Research median
$2,361/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$36,000/yr
At $3,000/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 15.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+15.7% YoY, +1.0% MoM), not inventory.
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Demographics

Who lives here

North Bay Village, FL is majority renter-occupied, 45% of residents hold a bachelor's degree or higher.

Population
8,118
Median income
$84,405
Median age
47.7
Renters
57.6%
Age distribution
17.1%
36%
21.9%
15%
Under 1810%
18–3417.1%
35–5436%
55–6421.9%
65+15%
Gender
47.2%
52.8%
Male47.2%
Female52.8%
Race & ethnicity
32.4%
60%
White32.4%
Black5.1%
Hispanic60%
Asian5%
Education (25+)
17.8%
28.6%
45%
No HS diploma8.5%
HS diploma17.8%
Some college28.6%
Bachelor's+45%
Housing tenure
42.4%
57.6%
Owner42.4%
Renter57.6%

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

2022 vs 2026

How North Bay Village, FL has changed in 5 years

Rent
$2,659 → $3,000
up 12.8%
Income
$65,857 → $84,405
up 28.2%
Population
8,057 → 8,118
up 0.8%
Renter share
64.1% → 57.6%
-6.5 pts
Bachelor's+
44.5% → 45%
+0.5 pts
Median age
40.7 → 47.7
+7.0 yrs

The median rent in North Bay Village, FL stood at $2,659 in 2022 and currently runs about $3,000, reflecting a 12.8% increase over the period. Census figures show median household income at $84,405 today, compared with $65,857 five years earlier. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. Renters now make up 57.6% of households, compared with 64.1% five years ago. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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View North Bay Village rent history (2015–2026) →
Salary vs rent

Can you afford rent in North Bay Village on your salary?

At $3,000/mo, how North Bay Village rent compares to typical pay (30% rule).

By apartment size

North Bay Village rent by bedroom count

Median rent for each apartment size in North Bay Village. Click any size for full breakdown.

Local insights

Tips for renters in North Bay Village

About renting in North Bay Village, FL

Last updated: July 20, 2026

The median rent in North Bay Village is $3,000/mo as of July 2026. A studio apartment averages $1,664/mo while a 2-bedroom runs $2,361/mo. One-bedroom apartments average $1,990/mo and 3-bedroom units go for $3,453/mo.

At 43% of local median household income ($84,405/yr), North Bay Village ranks as moderate compared to the national benchmark of 30%. Rents have increased 15.7% over the past year.

FAQ

Frequently asked questions

Is North Bay Village an affordable city for renters?

North Bay Village is considered stretched for renters. At $3,000/mo, rent takes approximately 43% of the local median household income ($84,405/yr). The standard benchmark is 30%. North Bay Village significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in North Bay Village?

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 $3,000/mo in North Bay Village. The local median household income is $84,405/yr, meaning the typical North Bay Village household falls short of that threshold.

Is rent going up or down in North Bay Village?

Rent in North Bay Village has increased 15.7% over the past year as of July 2026, putting upward pressure on renter budgets.

How does North Bay Village rent compare to other cities in Florida?

North Bay Village is one of the pricier cities in Florida for rent, ranking #29 out of 288 tracked cities at $3,000/mo.

Which nearby cities are cheaper to rent in than North Bay Village?

Several nearby cities have lower median rents than North Bay Village ($3,000/mo): El Portal ($2,427/mo), Miami Beach ($2,978/mo).

What percentage of North Bay Village residents rent vs. own?

According to Census data, approximately 57.6% of North Bay Village households are renters, while 42.4% are owner-occupied. With a majority renter population, North Bay Village has a strong rental market.

How does North Bay Village rent compare to the national average?

North Bay Village's median rent of $3,000/mo is $1,035 (53%) above the US national median of $1,965/mo. Within Florida, it ranks #29 out of 288 tracked cities.
Income Affordability
43%
STRETCHED

At $3,000/mo, rent takes ~43% of North Bay Village's median household income ($84,405/yr). The standard benchmark is 30%.

North Bay Village 43%Benchmark 30%
State income taxNone
Run the North Bay Village affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near North Bay Village, FL

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