South Miami, 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 South Miami, Florida rental market.
South Miami, Florida
Average Apartment Rent
$3,146
Y-o-Y Change in Average
Apartment Rent
20.6%
As of March 2026
Compared to a year ago, South Miami, Florida apartments have recorded a 20.6% rent increase.
South Miami, Florida Average apartment rent trend
South Miami, Florida Average Apartment Rent
South Miami, Florida Apartment rent ranges
At 52.07%, apartments priced Over $3,000 represent the bulk of South Miami, Florida rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 9.63%.
South Miami, Florida Housing tenure**
Renters take up 43% of South Miami, Florida real estate, occupying a total of 2,018 units, while homeowners live in 2,718 properties.
Median number of rooms of renter-occupied housing units**
3.4
Renter median household income**
$32,083
Average household size of renter-occupied housing units**
2
Rental vacancy rate**
7.5%
South Miami, Florida Renter-occupied housing units by no. of bedrooms**
There are 826 rentals in South Miami, Florida with 1 bed making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 32 units. Overall, the median number of rooms in South Miami, Florida homes for rent is 3.4.
South Miami, Florida Renter-occupied units by age of householder**
Most condos for rent in South Miami, Florida are occupied by residents in the 25 - 34 years age group (22%), followed by those in the 15 - 24 years age group (21%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 4%.
South Miami, Florida Renter-occupied housing units by family type**
South Miami, Florida Renter-occupied housing units by the presence of own children**
A total of 705 apartments for rent in South Miami, Florida, or 35% of all rentals are family households. Additionally, 15% of rental homes include children under the age of 18 – that’s 296 units. All in all, the median size of a renter-occupied household in South Miami, Florida is 2.
South Miami, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 49% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in South Miami, Florida.
South Miami, Florida Renter-occupied units by year structure built**
The highest share of South Miami, Florida apartment rentals, namely 22% or 447 units, were Built 1950 - 1959, followed by those Built 1960 - 1969 (20%, 395 units), and the ones Built 1980 - 1989 (15%, 297 units).
South Miami, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most South Miami, Florida renters (49%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their South Miami, Florida condos for rent is 2016.
South Miami, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 56% of South Miami, Florida renters have 1 vehicle available per household, 21% of them have No vehicle available, and 16% have 2 vehicles available.
South Miami, Florida Means of transportation to work of householders living in renter-occupied housing units**
South Miami, 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 South Miami, 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
