Miami rent has been on a steady incline for years, with a dramatic surge reported in 2021. The spike wasn’t unexpected—between the city’s iconic beaches, bright blue waters, year-round sunshine and vibrant cultural scene, the city continues to attract new residents in droves.
But that popularity comes at a price.
In apartment rental platform Zumper’s March 2025 National Rent Report, Miami ranked as the sixth most expensive city in the country for one-bedroom apartments, with a median monthly rent of $2,550. It’s the most expensive city to live in within the state of Florida, with Miami Beach following closely behind at $2,480 for a one-bedroom unit. The median rent for a two-bedroom apartment in Miami? $3,350. For perspective, the statewide median for a one-bedroom in March was $1,605.
Zumper’s report includes data from 26 cities within the local metro area. Of those, only four had one-bedroom median rents below the statewide median. Coral Springs emerged as the most affordable, with a median rent of $1,550 for a one-bedroom—down 11.4% from last year and 3.1% from last month. On the flip side, Sunrise saw the steepest increase across the region, with a 9.2% year-over-year jump, bringing its one-bedroom median to $1,900.
The good news: despite Miami’s consistent placement among the most expensive rental markets in the U.S., the pace of rent growth has recently slowed. In fact, the median rent for a one-bedroom apartment in Miami rose just 0.4% from February and actually fell 5.9% year-over-year. Two-bedroom units saw an even steeper annual decline of 7.7%.
While affordability continues to be a challenge for many in Miami, the recent cooling of rental prices could offer some hope to renters keeping a close eye on the market.
Let's see if things change by summer.