Miami Rent Report: April 2025
Welcome to the Apartment List April 2025 Rent Report for Miami, FL. Currently, the overall median rent in the city stands at $1,927, after rising 0.9% last month. Prices and are now up 0.6% year-over-year. Read on to learn more about what’s been happening in the Miami rental market and how it compares to trends throughout the broader Miami metro area and the nation as a whole.
Miami rents are up 0.9% month-over-month and up 0.6% year-over-year
The median rent in Miami rose by 0.9% over the course of March, and has now increased by a total of 0.6% over the past 12 months. Miami’s rent growth over the past year has has outpaced the state average (-0.9%) and is similar to the national average (-0.4%).
Miami rent growth in 2025 pacing similar last year
Three months into the year, rents in Miami have risen 1.5%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to March 2024 rents had increased 1.5%.
March rent growth in Miami ranked #26 among large U.S. cities
Miami rents went up 0.9% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #26. Similar monthly rent growth took place in Long Beach, CA (0.9%) and Durham, NC (0.9%).
Miami is the #18 most expensive large city in the U.S., with a median rent of $1,927
Citywide, the median rent currently stands at $1,611 for a 1-bedroom apartment and $2,134 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,927. That ranks #18 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,216 for a 1-bedroom, $1,370 for a 2-bedroom, and $1,384 overall. The median rent in Miami is 39.3% higher than the national, and is similar to the prices you would find in Oakland, CA ($1,992) and Riverside, CA ($1,816).
Miami rents are 5.8% higher than the metro-wide median
If we expand our view to the wider Miami metro area, the median rent is $1,821 meaning that the median price in Miami proper ($1,927) is 5.8% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -0.1%, below the rate of rent growth within just the city.
The table below shows the latest rent stats for 26 cities in the Miami metro area that are included in our database. Among them, Boca Raton is currently the most expensive, with a median rent of $2,404. North Miami is the metro’s most affordable city, with a median rent of $1,521. The metro's fastest annual rent growth is occurring in Deerfield Beach (8.5%) while the slowest is in Coconut Creek (-3.0%).
You can also use the map below to explore the latest rent trends in the Miami metropolitan area.
Methodology
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Data Access
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
