After taking a deep look at one-bedroom median rents across the Miami metro area, Zumper concludes Miami is the most expensive city to rent in, with one-bedroom units priced at $1,800.
Homestead was found to be the most affordable of the 18 cities considered, with median one-bedroom units going for $850 a month.
The fastest growing rental markets are Boca Raton ($1,740) and Deerfield Beach ($1,530), with both displaying around a 15 percent spike year over year. Homestead ($850) showed the biggest decrease, with a 15 percent decline year over year.
While Miami rents remain the highest, there’s actually been a 3 percent decrease over the last year as inventory continues to flood the market. The five priciest rental markets are Miami, Boca, Miami Beach, Deerfield Beach, and Weston.