Real Estate News

Looking to rent an apartment? Here’s where the best deals in Miami are

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.

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.

Miami_MonthlyPriceMedianMap_Summer2017

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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.

Rene Rodriguez: 305-376-3611, @ReneMiamiHerald

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