A common question for Miami renters has to be regarding the ideal times to be searching for their next apartment or condo.
Knowing the seasonal differences in asking price can help those with flexible leases time their next apartment swap. Rent Hop has provided assistance, running a data study where they "explore the monthly differences in median one-bedroom asking rents in ten distinct metro areas."
Their Miami findings are below, showing the worst time to rent is May and June and best time to rent is between September and January.
The most extreme difference occurs in Miami, with a 4.5% premium for only two months in May and June, then a discount of about 2% from September all the way through January. Again, these representing asking rent prices, so we shouldn't be too quick to jump to conclusions, but there must be some compelling reasons to cause such a huge seasonal shift.
Obviously, the Miami area contains a lot of seasonal housing and short-term rentals, but all of our data draws from landlords seeking 12-month or longer leases. Still, the supply and demand dynamics of short-term housing or even Airbnb offerings must have some causal impact on the long term rental market.