Miami is the largest resort city in the United States, located in the state of Florida on the Atlantic coast. Developed infrastructure, comfortable weather throughout the year and the warm Atlantic Ocean – all these advantages have made Miami one of the most expensive cities in the United States. Today, Miami is one of the ten most expensive cities in the United States in terms of the cost of renting an apartment. Prices for buying and renting real estate continue to skyrocket every year. In this article, we look at the average rental prices for one and two-bedroom apartments in Miami, Florida as of October 2022. For example, from October 2021 to October 2022, rental prices for one-bedroom apartments in Miami increased by 21.30%. Two-bedroom apartments have risen in price even more – by 24.50% year-on-year. The median rental price for a one-bedroom apartment in Miami is $2,510 per month and for a two-bedroom apartment is $3,400 per month.
The cheapest neighborhoods in Miami include Sandalfoot Cove ($1,300/month for one-bedroom apartments), Liberty City ($1,375/month) and Brownsville ($1,400/month).
Miami’s most expensive neighborhoods include Park West ($3,850/month), Brickell ($3,390/month), Media and Entertainment District ($3,300/month).