Miami's apartment rental market cools down: Zumper Report
By WLRN News Staff
October 1, 2025 at 6:01 PM EDT
Miami's infamously hot rental market appears to be cooling, with the city's overall median rent experiencing a significant annual decline, according to the latest Zumper Rent Report for September 2025.
The overall median rent for all bedroom counts and property types in Miami now stands at $3,050, an 8% decrease compared to the same time last year.
Despite the notable drop, the city’s average rent remains 55% higher than the national median, underscoring Miami's continued status as one of the most expensive metro areas in the nation. The market has stabilized recently, with rents remaining flat month-over-month.
A deeper look into specific unit sizes, however, reveals a mixed picture for renters.
While the overall median declined, prices for smaller, more commonly leased units continued to climb annually. The median rent for a 1-bedroom unit in Miami reached $2,600, reflecting a 6% increase over the past year. Similarly, 2-bedroom units now command a median of $3,137, up 5% year-over-year.
The geographic disparity in housing costs remains extreme. Pricey neighborhoods like Edgewater ($4,700) and Brickell ($4,200) maintain high rents. In contrast, renters can find relative relief in communities like East Little Havana, which posts the lowest median rent on the list at $2,100, followed by West Little Havana at $2,400.
The report suggests that while Miami's overall rental frenzy has subsided from its peak, the core pressures on one- and two-bedroom apartments—the most crucial segments for most renters—continue to drive annual price appreciation.
Read the full Zumper Report here.
The overall median rent for all bedroom counts and property types in Miami now stands at $3,050, an 8% decrease compared to the same time last year.
Despite the notable drop, the city’s average rent remains 55% higher than the national median, underscoring Miami's continued status as one of the most expensive metro areas in the nation. The market has stabilized recently, with rents remaining flat month-over-month.
A deeper look into specific unit sizes, however, reveals a mixed picture for renters.
While the overall median declined, prices for smaller, more commonly leased units continued to climb annually. The median rent for a 1-bedroom unit in Miami reached $2,600, reflecting a 6% increase over the past year. Similarly, 2-bedroom units now command a median of $3,137, up 5% year-over-year.
The geographic disparity in housing costs remains extreme. Pricey neighborhoods like Edgewater ($4,700) and Brickell ($4,200) maintain high rents. In contrast, renters can find relative relief in communities like East Little Havana, which posts the lowest median rent on the list at $2,100, followed by West Little Havana at $2,400.
The report suggests that while Miami's overall rental frenzy has subsided from its peak, the core pressures on one- and two-bedroom apartments—the most crucial segments for most renters—continue to drive annual price appreciation.
Read the full Zumper Report here.