ZIP Code · FL

ZIP 33138

Part of Miami, FL

Pop. 28,980·Miami-Dade County·185th most expensive ZIP in Florida

Median rent (all units)

$2,391/mo

Year-over-Year

+4.0%

Month-over-Month

+1.3%

vs US Median

+$459

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 33138 · $2,391

More expensive than 77% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,620

1 BR

$1,770

2 BR

$2,160

3 BR

$2,770

4 BR+

$3,200

Research median

$2,160/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

Cheapest month to sign

January. Asking rents in ZIP 33138 usually run 0.9% below trend in January and 0.8% above it in May, about $41 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 33138 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Florida

Rent in ZIP 33138 changed +4.0% 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 33138 rose 64.1% while median household income rose 46.4% ($51,262 to $75,051). Rent outpaced income.

Since before the pandemic

Rent in ZIP 33138 is 64.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 4 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($75,051) is $1,876 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,770); a 2-bedroom is $2,160.

Rank in Miami

6th cheapest of 26 ZIP codes in Miami.

Cheaper nearby

ZIP 33161, 3 miles away, rents for 11% less ($2,137/mo), about $3,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 33138. 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.

Annual cost

$28,692/yr

At $2,391/mo median

Location

CityMiami

StateFL

CountyMiami-Dade County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 4.0% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+4.0% YoY, +1.3% MoM), not inventory.

Demographics

Who lives here

ZIP 33138 (Miami, FL) is roughly split between renters and owners, 47.3% of residents hold a bachelor's degree or higher.

Population

28,980

Median income

$75,051

Median age

41.4

Renters

52.2%

Age distribution

18.6%

19.5%

30.3%

15%

16.6%

Under 1818.6%

18–3419.5%

35–5430.3%

55–6415%

65+16.6%

Gender

49.5%

50.5%

Male49.5%

Female50.5%

Race & ethnicity

31.5%

29.8%

39.4%

White31.5%

Black29.8%

Hispanic39.4%

Asian0.7%

Education (25+)

13.6%

17%

22%

47.3%

No HS diploma13.6%

HS diploma17%

Some college22%

Bachelor's+47.3%

Housing tenure

47.8%

52.2%

Owner47.8%

Renter52.2%

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

2021 vs 2026

How ZIP 33138 in Miami, FL has changed in 5 years

Rent

$1,568 → $2,391

up 52.5%

Income

$57,063 → $75,051

up 31.5%

Population

30,029 → 28,980

down 3.5%

Renter share

51.2% → 52.2%

+1.0 pts

Bachelor's+

43.8% → 47.3%

+3.5 pts

Median age

40.5 → 41.4

+0.9 yrs

The median rent in ZIP 33138 in Miami, FL stood at $1,568 in 2021 and currently runs about $2,391, reflecting a 52.5% increase over the period. Household income in the area moved from $57,063 to $75,051 across the same window, up 31.5% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 3.5% since 2021, moving from about 30,029 residents to roughly 28,980. College-educated residents now make up 47.3% of adults here, versus 43.8% in 2021. Reading these numbers side by side helps frame whether current listings in ZIP 33138 in Miami, FL look reasonable against where the market sat half a decade ago.

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Local insights

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About renting in ZIP 33138

Last updated: October 17, 2026

ZIP code 33138 covers Miami, FL. The median rent here is $2,391/mo as of October 2026. A 1-bedroom rents for a median of $1,770/mo. A 2-bedroom rents for a median of $2,160/mo.

At 38% of local median household income ($75,051/yr), ZIP 33138 ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 33138?

To keep rent at or below 30% of gross income, you would need to earn at least $96,000/year (about $46/hour full-time) to afford the median rent of $2,391/mo in ZIP 33138. The local median household income is $75,051/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 33138?

Rent in ZIP 33138 has risen 4.0% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 33138?

Asking rents in ZIP 33138 are usually lowest in January, about 0.9% below their yearly trend, and highest in May, about 0.8% above it. At today's median that is a gap of roughly $41 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 33138?

Yes. From 2019 to 2024, rent in ZIP 33138 rose 64.1% while median household income rose 46.4%, from $51,262 to $75,051. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 33138 compare to other ZIPs in Florida?

ZIP 33138 is one of the pricier among Florida ZIP codes for rent, ranking #185 of 656 at $2,391/mo. Over the year to September 2026, rent in ZIP 33138 changed +4.0%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.