Miami Beach, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Miami Beach, Florida rental market.
Miami Beach, Florida
Average Apartment Rent
$3,583
Y-o-Y Change in Average
Apartment Rent
8.3%
As of May 2026
Compared to a year ago, Miami Beach, Florida apartments have recorded a 8.3% rent increase.
Miami Beach, Florida Average apartment rent trend
Miami Beach, Florida Average Apartment Rent
Miami Beach, Florida Apartment rent ranges
At 60.22%, apartments priced Over $3,000 represent the bulk of Miami Beach, Florida rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 3.55%.
Miami Beach, Florida Housing tenure**
Renters take up 63% of Miami Beach, Florida real estate, occupying a total of 26,289 units, while homeowners live in 15,422 properties.
Median number of rooms of renter-occupied housing units**
2.8
Renter median household income**
$49,808
Average household size of renter-occupied housing units**
1.85
Rental vacancy rate**
6%
Miami Beach, Florida Renter-occupied housing units by no. of bedrooms**
There are 12,125 rentals in Miami Beach, Florida with 1 bed making up the highest share of the market, at 46%. Units with 4 beds, on the other hand, hold the lowest percentage (1%), amounting to 216 units. Overall, the median number of rooms in Miami Beach, Florida homes for rent is 2.8.
Miami Beach, Florida Renter-occupied units by age of householder**
Most condos for rent in Miami Beach, Florida are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Miami Beach, Florida Renter-occupied housing units by family type**
Miami Beach, Florida Renter-occupied housing units by the presence of own children**
A total of 9,498 apartments for rent in Miami Beach, Florida, or 36% of all rentals are family households. Additionally, 15% of rental homes include children under the age of 18 – that’s 3,877 units. All in all, the median size of a renter-occupied household in Miami Beach, Florida is 1.85.
Miami Beach, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 45% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Miami Beach, Florida.
Miami Beach, Florida Renter-occupied units by year structure built**
The highest share of Miami Beach, Florida apartment rentals, namely 22% or 5,754 units, were Built 1960 - 1969, followed by those Built 1970 - 1979 (16%, 4,299 units), and the ones Built 1950 - 1959 (14%, 3,723 units).
Miami Beach, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Miami Beach, Florida renters (41%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Miami Beach, Florida condos for rent is 2018.
Miami Beach, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Miami Beach, Florida renters have 1 vehicle available per household, 33% of them have No vehicle available, and 16% have 2 vehicles available.
Miami Beach, Florida Means of transportation to work of householders living in renter-occupied housing units**
Miami Beach, Florida Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Miami Beach, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
