Apartments in Kings Bay Miami

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19

$7,000

14540 Sailfish Dr

Coral Gables, FL

5 BR | Available Now

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Kings Bay

17

$11,000

6124 Paradise Point Dr Unit 6124

Palmetto Bay, FL

2 BR | Available Now

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Kings Bay

10

$5,950

7360 SW 141st Ter

Palmetto Bay, FL

3 BR | Available Now

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12

$9,000

7695 SW 142nd St

Palmetto Bay, FL

5 BR | Available Now

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11

$6,000

7455 SW 134th St

Miami, FL

4 BR | Available Now

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16

$6,500

14060 SW 82nd Ave

Palmetto Bay, FL

4 BR | Available Now

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9

$5,900

7300 SW 116th St

Miami, FL

3 BR | Available Now

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12

$6,200

8370 SW 161st St

Palmetto Bay, FL

3 BR | Available Now

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Miami:
November Rent Report

Welcome to the November 2024 Miami Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the November 2024 key findings and figures for the Miami rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Miami and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Miami average rent prices in the chart below.

Monthly Rent Report

$3,200

$2,400

$1,600

$800

$0

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

Jun. 2024

Jul. 2024

Aug. 2024

Sep. 2024

Oct. 2024

Nov. 2024

1 BR 2 BR

Miami Rent Prices Decrease From October to November

Miami rent prices decreased over the last month. From October to November, the city experienced a -0.4% decrease for the price of a one-bedroom apartment. The rent price for a Miami one-bedroom apartments currently stands at $2,471.0.

When we take a look at the two-bedroom comparison from October to November, Miami experienced a 0.18% increase for the price of a two-bedroom apartment. The rent price for a Miami two-bedroom apartments currently stands at $2,764.0.

November Prices: Miami vs. Surrounding Areas

Fort Lauderdale, FL

Dania Beach, FL

Miami, FL

Hollywood, FL

Miramar, FL

Hialeah, FL

Doral, FL

Plantation, FL

$3,017

$2,649

$2,481

$2,479

$2,462

$2,312

$1,944

$1,879

$0

$1,000

$2,000

$3,000

$4,000

Median 1 BR Rent

Rent Prices in Miami and Surrounding Areas

Rent prices have decreased in Miami over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 5 of the Miami suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Fort Lauderdale, FL, Hollywood, FL, Miramar, FL, Doral, FL, Dania Beach, FL .
Rent decreased in Plantation, FL, Hialeah, FL.
3 suburbs are currently priced higher than the city of Miami.
4 suburbs are currently priced lower than the city of Miami.

November 2024 Pricing Trends: Miami vs. National Comparisons

New York, NY

San Francisco, CA

Miami, FL

Los Angeles, CA

Washington, DC

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

$4,211

$3,115

$2,481

$2,373

$2,354

$1,903

$1,338

$1,246

$1,202

$0

$1,400

$2,800

$4,200

$5,600

Median Rent

Miami Rent Prices More Affordable Than Major Cities

Rent growth in Miami over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Miami average rent prices appear to be relatively affordable for local residents.

The price for a Miami one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Miami and surrounding area rent prices, take a look at the complete data set below.

Data set for Miami and suburbs

	1 BR November	1 BR M/M % Change	2 BR November	2 BR M/M % Change
Miami, FL	$2,481.0	1.68%	$2,759.0	0.66%
Fort Lauderdale, FL	$3,017.0	1.28%	$4,043.0	0.35%
Hollywood, FL	$2,479.0	0.65%	$3,145.0	0.64%
Plantation, FL	$1,879.0	-0.79%	$2,267.0	-0.04%
Miramar, FL	$2,462.0	0.82%	$3,060.0	-0.13%
Doral, FL	$1,944.0	0.26%	$2,439.0	0.12%
Hialeah, FL	$2,312.0	-0.30%	$2,681.0	0.68%
Dania Beach, FL	$2,649.0	2.95%	$2,973.0	-1.78%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.