The South Florida rental market is finally showing signs of cooling after years of steep rent hikes driven by post-pandemic demand. According to a recent report from Zumper, median rents in the region—particularly in Miami and neighboring cities—have started to dip year-over-year, providing some relief to renters.
Key Findings:
- Miami rents are falling, but still costly: The median rent for a one-bedroom apartment in Miami dropped 3.6% in June 2025 compared to the previous year. However, it remains the most expensive in the metro area at $2,700, far above the Florida statewide median of $1,593.
- Other high-priced cities also see declines: Miami Beach, Doral, Aventura, and Fort Lauderdale also recorded annual decreases, yet still hover around or above the $2,000 mark.
Biggest Declines in Broward County:
The most notable rent reductions occurred in Broward County cities:
- Dania Beach: Down 14.3% to $1,800
- Hallandale Beach: Down 10.8% to $1,900
- Hollywood: Down 9.8% to $1,850
Most Affordable Cities in South Florida:
For renters seeking budget-friendly options, several cities remain below the metro average:
- Margate: $1,500
- Miami Gardens: $1,590
- Lauderhill: $1,600
- Lake Worth: $1,600
What’s Driving the Trends?
According to Zumper spokesperson Crystal Chen, the rent softening in urban hubs like Miami and Miami Beach is largely due to a surge in new housing supply. This has increased vacancy rates and given renters more leverage in negotiations.
In contrast, suburban cities like Davie and Tamarac have not seen as much new development, resulting in more stable rent trends. These areas are increasingly absorbing renters priced out of the urban core, particularly those seeking more space or affordable alternatives.
The Bottom Line:
While the rent drops offer some relief, South Florida remains one of the most expensive rental markets in the state. Still, growing supply and shifting demand may signal a more balanced market ahead—at least in the near term.
