clock menu more-arrow no yes mobile

Filed under:

Pricing the Best Neighborhoods to Rent in the Heart of Miami

New, 3 comments

The best neighborhoods to rent in Miami combine walkability, excitement, activity, urbanism, good housing stock, safety, a central location, and (hopefully) relative affordability. A neighborhood rich in all those qualities is likely to get pretty popular pretty quickly and since rental prices fluctuate pretty easily with the whims of the market, well, there goes the affordability. But sometimes you still get lucky.

South Beach is ground zero for renting in Miami, with lots and lots of rental stock in a wide variety of formats, layouts and typologies. This is where the tourists want to rent, but it's also where a certain breed of local nests as well. Young party people live here, as well as old-timers still around from South Beach's truly wild era in the '90s. South Beach is also a bastion of economic diversity. Young and rich realtors rent condos on West Avenue (average rent: $2,800) while shopping around for their first million dollar homes while waiters, busboys, and shop girls who work in the big hotels and tend to the tourists rent little apartments in Flamingo Park (average rent: $2,100). Meanwhile, the really high-flying tourists and part-timers jetting in for the season rent in South Pointe (average rent: a whopping $7,500).

Want a less expensive alternative to South Beach with its low-scaled beach vibe, while still being on the beach? Head north, to the up-and-coming North Beach (average rents: $2,100) The area is seeing a resurgence, with new development, new shops and restaurants, and a fight to preserve its historic architecture.

Downtown Miami, with all its new housing stock in glamorous, towering new skyscrapers, is hot hot hot. Of course, living in the center of the action, and watching Miami's future rise all around you, Downtown is also becoming quite expensive (average rent: $2,900) Renting in the heart of Brickell with all the yuppies and young professionals is pretty much the same deal (average rent: $2,800) but go west to Little Havana and prices plummet. (average rent: $1,600 a month)

Head north to Wynwood, Edgewater, and Midtown where the yuppies replaced the artists at least a few years ago and prices are back to Downtown's levels (average rent: $2,700) Trucking north, follow the artists to Little Haiti/Little River, where prices start to come down (average rent: $2,100) and lots of cool new artsy and cultural things are happening.

Heading south, a unit at the Atlantis or another comparable condo tower on the water in South Brickell, a gorgeous neighborhood close to Downtown, will set you back (average rent: $2,800) but it won't set you back as much as renting in Coconut Grove. (average rent $3,500)
· Miami Metro Rental Prices []