Average Rent in Miami 2026
The average rent in Miami, FL is $2,200 for a 1-bedroom, $2,900 for a 2-bedroom, and $3,600 for a 3-bedroom apartment in 2026. The cost of living in Miami is 33% above the national average. To afford a 1-bedroom apartment here using the 30% rule, you need an annual income of at least $88,000.
Miami Rent Prices by Bedroom
1 Bedroom
$2,200
per month
2 Bedrooms
$2,900
per month
3 Bedrooms
$3,600
per month
Cost of Living in Miami
133
Cost of Living Index (100 = national average)
Miami's cost of living index is 133, which is 33% above the national average. This index factors in housing, groceries, transportation, healthcare, and utilities. A higher number means you need more income to maintain the same standard of living compared to the national average.
Miami at a Glance
Population
442K
Median Income
$51,347
COL Index
133
Rent Control
No
How Much Income Do You Need to Rent in Miami?
The widely accepted guideline is to spend no more than 30% of your gross income on rent. Here is the minimum annual income you need to afford an apartment in Miami by bedroom count:
1-Bedroom
$2,200/mo rent
$88,000/yr
2-Bedroom
$2,900/mo rent
$116,000/yr
3-Bedroom
$3,600/mo rent
$144,000/yr
Based on the 30% rule: monthly rent should not exceed 30% of gross monthly income.
How Much You Save with a Roommate in Miami
Save $750/month
by splitting a 2-bedroom with a roommate
Solo 1BR
$2,200
per month
Split 2BR
$1,450
per person/month
Annual Savings
$9,000
per year
Instead of paying $2,200 for a 1-bedroom on your own, splitting a 2-bedroom ($2,900) with one roommate brings your share to $1,450. That is $9,000 per year you could put toward savings, investments, or paying down debt.
Rent Control in Miami
Miami, FL does not currently have rent control or rent stabilization laws. Landlords can raise rent by any amount at lease renewal, though they are typically required to provide advance notice (usually 30-60 days). If you are concerned about rent increases, consider negotiating a longer lease term for price stability.
Rent Calculators for Miami Renters
Use these free calculators to plan your Miami rental budget, split rent with roommates, and check if you qualify for an apartment.
Rent Affordability Calculator
Find out how much rent you can afford based on your income.
Fair Rent Split Calculator
Split rent fairly by room size, features, and income.
Rent-to-Income Calculator
Check if you meet the 3x rent rule landlords require.
Renter Budget Calculator
Build a 50/30/20 budget around your rent payment.
Frequently Asked Questions About Renting in Miami
Is Miami expensive to rent in?
Miami has become one of the most expensive rental markets in the Southeast. A 1-bedroom averages $2,200 per month in 2026, about 33% above the national average. Demand from remote workers, international buyers, and limited land for new construction continue to drive prices up. Florida has no state income tax.
How much income do you need to rent in Miami?
Using the 30% rule, you need about $7,333 per month ($88,000 annually) to afford a $2,200/month 1-bedroom. This is a significant challenge given Miami's median household income of about $51,347.
How much can you save by splitting rent with a roommate in Miami?
Splitting a 2-bedroom ($2,900/month) with one roommate brings your share to $1,450, saving $750 per month or $9,000 per year compared to renting a 1-bedroom alone.
Planning to rent in Miami?