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Miami rents decline nearly 4 percent in August

Is Miami’s rental market shifting?

Miami continues to hold down the No. 8 slot nationally in one-bedroom median rents, per Zumper, but prices dipped by 3.7 percent in August to $1,800, down from $1,870 in July, and $1,900 in June.

It’s consistent with trends across the country, where eight of the top 10 markets experienced decreases.

However, Miami’s drop was proportionately higher than all but one market in the top 10 (Oakland).