ZIP Code · FL

ZIP 33131

Part of Miami, FL

Pop. 23,095·Miami-Dade County·25th most expensive ZIP in Florida

Median rent (all units)

$3,829/mo

Year-over-Year

+1.6%

Month-over-Month

+0.4%

vs US Median

+$1,897

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 33131 · $3,829

More expensive than 97% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$2,740

1 BR

$2,990

2 BR

$3,650

3 BR

$4,680

4 BR+

$5,410

Research median

$3,650/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 33131 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Florida

Rent in ZIP 33131 changed +1.6% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 33131 rose 58.4% while median household income rose 42.4% ($101,248 to $144,138). Rent outpaced income.

Since before the pandemic

Rent in ZIP 33131 is 56.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 2 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($144,138) is $3,603 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($2,990); a 2-bedroom is $3,650.

Rank in Miami

26th cheapest of 26 ZIP codes in Miami.

Cheaper nearby

ZIP 33130, 1 mile away, rents for 15% less ($3,251/mo), about $6,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 33131. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$45,948/yr

At $3,829/mo median

Location

CityMiami

StateFL

CountyMiami-Dade County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.6% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 33131 (Miami, FL) is majority renter-occupied, skews toward younger working-age adults, has a median income above the national average, 78.5% of residents hold a bachelor's degree or higher.

Population

23,095

Median income

$144,138

Median age

35.9

Renters

63%

Age distribution

36.3%

34.6%

Under 1811.7%

18–3436.3%

35–5434.6%

55–6410.8%

65+6.7%

Gender

51.3%

48.7%

Male51.3%

Female48.7%

Race & ethnicity

42.1%

49.5%

White42.1%

Black4.3%

Hispanic49.5%

Asian5.1%

Education (25+)

13%

78.5%

No HS diploma2.3%

HS diploma6.2%

Some college13%

Bachelor's+78.5%

Housing tenure

37%

63%

Owner37%

Renter63%

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

2021 vs 2026

How ZIP 33131 in Miami, FL has changed in 5 years

Rent

$2,632 → $3,829

up 45.5%

Income

$107,171 → $144,138

up 34.5%

Population

22,529 → 23,095

up 2.5%

Renter share

69.1% → 63%

-6.1 pts

Bachelor's+

75.6% → 78.5%

+2.9 pts

Median age

34.6 → 35.9

+1.3 yrs

Five years ago, renters in ZIP 33131 in Miami, FL paid around $2,632 a month. That figure now sits near $3,829, up 45.5% from the 2021 baseline. Local incomes tracked alongside that move, going from a median of $107,171 in 2021 to $144,138 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 33131 in Miami, FL adding about 566 residents over the five-year window, up 2.5% on net. The renter share has eased from 69.1% to 63%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 75.6% to 78.5% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 33131 in Miami, FL market of 2021.

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About renting in ZIP 33131

Last updated: October 17, 2026

ZIP code 33131 covers Miami, FL. The median rent here is $3,829/mo as of October 2026. A 1-bedroom rents for a median of $2,990/mo. A 2-bedroom rents for a median of $3,650/mo.

At 32% of local median household income ($144,138/yr), ZIP 33131 ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 33131?

To keep rent at or below 30% of gross income, you would need to earn at least $153,000/year (about $74/hour full-time) to afford the median rent of $3,829/mo in ZIP 33131. The local median household income is $144,138/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 33131?

Rent in ZIP 33131 has risen 1.6% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

Has rent outpaced income in ZIP 33131?

Yes. From 2019 to 2024, rent in ZIP 33131 rose 58.4% while median household income rose 42.4%, from $101,248 to $144,138. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 33131 compare to other ZIPs in Florida?

ZIP 33131 is one of the pricier among Florida ZIP codes for rent, ranking #25 of 656 at $3,829/mo. Over the year to September 2026, rent in ZIP 33131 changed +1.6%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.