Miami rents decreased by 5% in the last year, per report

Miami, Miami Beach, and Boca Raton are the three most expensive areas to rent in Zumper’s latest Miami metro report, which looked at over 56,000 active listings in March across 18 areas throughout South Florida.

There is good news for renters in two of those areas, however. Prices are down in Miami and Miami Beach, by 5.3 percent and 10.5 percent, respectively, year over year for one-bedroom units.

While Homestead was the most affordable city to rent in, it also showed the fastest yearly growth rate for one-bedrooms at nearly 16 percent. Other findings include Hollywood experiencing some of the biggest declines in price, with one-bedrooms decreasing by 14.4 percent and two-bedrooms decreasing by 15 percent.

Check out the full 16-city breakdown below.