Miami renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
Luxury
High-end
Mid-tier
Most affordable
On average, the cost of rent in Miami is about $1,849 per month. This puts it in the 88th percentile compared to the state average cost of rent, which is $1,532. Households in Miami have a median income of $5,550 per month so the average renter in Miami is spending roughly 33% of their earnings on housing.
Nationally, and in Miami, home values are the data point most closely correlated with the cost of rent. The median price of a home in Miami is $404,296 right now, which is lower than cities nearby, meaning that rents in Miami also tend to be lower versus these nearby cities.
Higher rent prices are common in the southeastern parts of Miami while lower rent rates are often available in northwestern areas.
Nearby Cities
- Shenandoah, FL: less expensive rent prices
- West Miami, FL: less expensive rent prices
- Coral Gables, FL: more expensive rent prices
- Virginia Gardens, FL: less expensive rent prices
- Coral Terrace, FL: less expensive rent prices
- Brownsville, FL: less expensive rent prices
- Miami, FL: comparable rent prices
- Miami Springs, FL: less expensive rent prices
- Gladeview, FL: less expensive rent prices
- Westchester, FL: less expensive rent prices
Cities with Similar Populations
- Raleigh, NC: less expensive rent prices
- Tucson, AZ: less expensive rent prices
- Mesa, AZ: less expensive rent prices
- Omaha, NE: less expensive rent prices
- Chattanooga, TN: less expensive rent prices
- Spokane, WA: less expensive rent prices
- Oklahoma City, OK: less expensive rent prices
- Chapel Hill, NC: less expensive rent prices
- Sacramento, CA: less expensive rent prices
- Harrisburg, PA: less expensive rent prices
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