Short-term rental buildings are popping up across Miami. Take a look
Miami visitors are getting more choices on where to stay, as buildings geared toward short-term rentals pop up in neighborhoods across the region.
High-profile events like Formula One, Ultra and the World Cup bring a steady stream visitors to South Florida, and the city is perennially popular with tourists and part-time residents, all needing accommodations. So, developers say they’re capitalizing on the demand by building apartment-hotel hybrids in Brickell, Edgewater, Wynwood and Miami Beach.
Units in short-term rental buildings typically come furnished, and unit owners can rent them out on Airbnb and Vrbo for stays as short as one night.
More than a dozen condo buildings geared toward short-term rentals are recently completed, under construction or soon to be built in Miami and Miami Beach. These buildings compete with traditional hotels, and often offer larger units with seating areas and kitchens.
Developers say the units, often priced lower than new luxury condos in Miami, are good investments and a way to make rental income on a second home. But some officials, like Miami Beach Commissioner Alex Fernandez, say these short-term rental buildings come with some of the same problems as traditional Airbnbs, like driving up rents for nearby residences and contributing to a more transient feeling in a neighborhood.
The NoMad Residences Wynwood, which celebrated its grand opening on Thursday evening, is the latest short-term rental building to open in Miami. Unit owners will begin moving into the building in the coming weeks.
The eclectically decorated, 329-unit condo building at 2700 NW Second Ave. is part of the Hilton-owned NoMad hotels brand. Wynwood, the former industrial district turned arts and entertainment area two miles north of downtown, has seen major redevelopment over the last decade.
Amro Zakarni, Related Group’s senior vice president of development, said the building’s furniture and finishes were chosen with design in mind, from the custom panels of floral embroidery on the reception desk to the blue-and-white scalloped pool umbrellas on the roof deck.
Some short-term rental buildings go for a simpler, more hotel-like look, but Zakarni said he thinks the NoMad’s colorful and funky design is what drew in many buyers. Unit prices range from $680,000 to just under $1 million.
Developers building short-term rental buildings typically need special permits allowing short-term stays, and the developments usually need to be built on sites zoned for hotels.
A new home, or a new source of income
Zakarni said some buyers he has spoken with plan to use their units as a primary residence. But most plan to rent their units out at least some of the time. Zakarni said this can work well for people who don’t live in Miami but come regularly for business or vacation. When owners aren’t using their units, they can earn rental income.
Unlike the NoMad, which allows owners to live full-time in their units, some short-term rental buildings in Miami allow only short stays. Edge House, a short-term rental building under construction in Edgewater, only allows stays of up to 30 days, said Ruben Alvarez, the vice president of sales for Edge House.
Fernando de Nuñez y Lugones, the founder and CEO of Vertical Developments, said the Elle Residences, a short-term rental building in Edgewater set to be completed in 2028, will allow stays of up to six months. It’s aimed at out-of-town buyers looking for a “pied-a-terre” or second home in Miami. The opportunity to rent units out is a major selling point, de Nuñez y Lugones said.
Fernandez, the Miami Beach city commissioner, takes issue with this model, which he says prioritizes out-of-town investors and second homebuyers over locals. He said he’d rather see the land being used to build short-term rental buildings used for more affordable housing for full-time residents, “who tend to care more for their community.”
“We need housing ... not for second homeowners. We need it for full-time homeowners in Miami Beach,” Fernandez said. “We have a workforce that can’t afford to live in our city.”
Fernandez said he and the rest of the Miami Beach City Commission oppose building more short-term rental properties. If a developer approached the commission asking to rezone a property so it could be used for short-term rentals, Fernandez said the commission would deny the request. “We have zero appetite,” he said.
Miami Beach has enacted strict rules about short-term rentals and high fees for violating them.
Events drive interest, nightly rates
For some short-term rental buildings, like the recently opened Domus Brickell Park, Miami’s events economy has been central to the pitch to buyers. Domus is offering a pair of free World Cup tickets for anyone who buys a unit in the building.
READ MORE: Want free World Cup tickets? Just buy a condo in this Brickell building
Lorenzo De Santis, the vice president of sales for the developer of Domus, said he tells potential buyers that they can either stay in their unit during the games, or rent it out as prices spike around the event.
Already, De Santis said, the building saw nightly prices surge during the Miami Open tennis tournament, which took place in March at Hard Rock Stadium in Miami Gardens. He said the price per night for a studio at Domus rose by half to about $300 per night.
Peggy Olin, the CEO of OneWorld Properties, said her firm’s short-term rental properties were booked up during Miami Music Week last month. She said prices often surge by about 30% during major events. OneWorld Properties has sold around 4,000 short-term rental units since 2019, Olin said.
Short-term rentals attract international buyers
David Arditi, the president and founding partner of Aria Miami, said around 80% of buyers at short-term rental projects developed by his firm are international, with many coming from Latin America. Short-term rental buildings tend to attract international buyers looking to invest in American real estate, especially buyers from countries with more unpredictable economies.
He said these units’ popularity with this demographic means they sell well in Miami, which has the most foreign real estate buyers of any city in the United States.
The units in these buildings tend to be smaller and come at a more affordable price point, Olin said.
Units at 7200 Collins, one of OneWorld Properties’ buildings that will allow short-term rentals, start around $500,000. Olin said around 70% of buyers at 7200 Collins, which recently broke ground in North Beach, have been international.
Fernandez, the Miami Beach commissioner, has been critical of Town Center, the mixed-use area of North Beach where 7200 Collins is located, being used for short-term rental development.
Olin said OneWorld Properties is planning to launch another short-term rental building in North Beach soon.
This story was originally published April 10, 2026 at 9:59 AM.
