The good news for Miami apartment hunters is that rents haven’t gone up since the spring. The median rent for a one-bedroom apartment is flat at $1,800 and two-bedroom rents actually dipped 2 percent, to $2,450, quarter-over-quarter.
The bad news? Miami is still one of the 10 most expensive cities in the U.S. for renters, sharing the No. 9 spot with Honolulu.
According to the latest Miami neighborhood rent price report released by Zumper, Miami Beach is one of the priciest parts of town, with the median rent for a one-bedroom reaching $2,300 in South Pointe and $2,250 in the Oceanfront area.
The Venetian Islands clocked in at $2,540, while the wealthy enclave of Fisher Island beat everybody with a median rent of $5,500.
Never miss a local story.
Within Miami, the downtown areas of Park West ($2,375) and Brickell ($2,100) required the most coin. Low-income neighborhoods such as Brownsville ($750), Gladeview ($880), Pinewood Park ($900) and Liberty City ($975) were some of the cheapest areas.
Living in trendy neighborhoods such as Wynwood ($2,060) and Coconut Grove ($2,100) will cost you. Rents in Little Haiti ($1,050) and Allapattah ($1,200) both dipped 11 percent. The Upper East Side ($1,650) and Bayshore ($2,150) had the biggest jumps, each up 13 percent.
Nationally, the median rent for a one-bedroom apartment rose 1.2 percent to $1,176, while two bedrooms went up 0.6 percent to $1,399.
San Francisco remains the most expensive city to rent a one-bedroom apartment ($3,420), followed by New York ($2,940) and San Jose ($2,380), California. Washington, D.C., and Boston tied for fourth place ($2,200). Check out Zumper’s complete list here.