Market Snapshots Miami, FL Real Estate News

The Most Expensive Zip Codes for Renters in Florida in 2017

Coral Gables Miami Florida Apartments for Rent RentCafe

Key Highlights:

    • Apartment rents in Coral Gables zip 33146 are the highest in the State of Florida
    • 42 of the state’s top 50 zip codes with the most expensive apartments are in Southeast Florida
    • 18 Florida zip codes have average rents above $2,000/month

    A sought-after location for renters of all ages, the Sunshine State has an average apartment rent of $1,231/month, less the national average, yet, the most expensive of all the Southern states, according to data provided by Yardi Matrix. With average rents above $2,000/month in as many as 18 zip codes, some parts of Florida are proving to be out of reach for the average renter.

    Here are Florida’s top 50 priciest zip codes to rent in right now. Use the table to sort by zip code, city, county, or to find the price of rent in your location by typing in the search box:

    Top Most Expensive Zip Codes in Florida in 2017

    #Zip CodeCityCountyAverage Rent
    133146Coral GablesMiami-Dade$2,617
    233131MiamiMiami-Dade$2,590
    333431Boca RatonPalm Beach$2,475
    433301Fort LauderdaleBroward$2,431
    533304Fort LauderdaleBroward$2,327
    633130MiamiMiami-Dade$2,218
    733139Miami BeachMiami-Dade$2,204
    833487Boca RatonPalm Beach$2,197
    933145 (Tie)MiamiMiami-Dade$2,175
    1033316 (Tie)Fort LauderdaleBroward$2,175
    1133432Boca RatonPalm Beach$2,148
    1233178DoralMiami Dade$2,097
    1333143MiamiMiami-Dade$2,092
    1433180AventuraMiami-Dade$2,089
    1533967Fort MyersLee$2,081
    1633132MiamiMiami-Dade$2,043
    1733483Delray BeachPalm Beach$2,030
    1833701St. PetersburgPinellas$2,006
    1933174MiamiMiami-Dade$1,977
    2033028Pembroke PinesBroward$1,967
    2133134Coral GablesMiami-Dade$1,908
    2233326Fort LauderdaleBroward$1,907
    2333137MiamiMiami-Dade$1,893
    2433602TampaHillsborough$1,868
    2533305Wilton ManorsBroward$1,851
    2633141Miami BeachMiami-Dade$1,849
    2733160North Miami BeachMiami-Dade$1,828
    2833323SunriseBroward$1,821
    2933328Fort LauderdaleBroward$1,813
    3033129MiamiMiami-Dade$1,800
    3133325Fort LauderdaleBroward$1,780
    3233606TampaHillsborough$1,734
    3333418Palm Beach GardensPalm Beach$1,725
    3433446Delray BeachPalm Beach$1,720
    3532826OrlandoOrange$1,715
    3633156MiamiMiami-Dade$1,702
    3733166Miami SpringsMiami-Dade$1,693
    3833445Delray BeachPalm Beach$1,688
    3933314Fort LauderdaleBroward$1,684
    4033428Boca RatonPalm Beach$1,681
    4133138MiamiMiami-Dade$1,675
    4232814OrlandoOrange$1,673
    4333025MiramarBroward$1,671
    4433414WellingtonPalm Beach$1,669
    4533435Boynton BeachPalm Beach$1,663
    4633144MiamiMiami-Dade$1,654
    4733073Pompano BeachBroward$1,650
    4832801OrlandoOrange$1,643
    4933133MiamiMiami-Dade$1,642
    5033071Pompano BeachBroward$1,635

    Southeast Florida is the most expensive in the Sunshine State

    As expected, rental apartments in Southeast Florida come with the highest price tags. Miami-Dade County has the greatest number of pricey zip codes in the top, 19, followed by Broward County with 13 expensive zip codes, and Palm Beach County with 10 of the top 50 most expensive zips.

    An abundance of luxury apartments in or near Downtown Miami earned these 2 zip codes top spots: 33146 in affluent Coral Gables has the highest rents in the entire state with the average rent of $2,617/month, a price that increased 6% since the same time last year; and 33131 in Downtown Miami, where the average monthly cost for an apartment is $2,590, 1% lower than a year before.

    Many wealthy residents call Boca Raton home, making it the state’s third most expensive rental market, with an average price of $2,475 in zip code 33431. Rates here increased by a hefty 8% since the same time last year. Another Boca zip code — 33487 — climbed to the top 10, after rents skyrocketed 13% since last year, reaching $2,197/month.

  • Some rich and famous (or famously rich) zip codes, like 33133 (Coconut Grove in Miami) or 33480 (Palm Beach) are not at the top of this list, but not because they aren’t expensive, rather because they aren’t primarily apartment rental communities. In those zip codes, homes for sale and single-family homes for rent are predominant, while this report focuses exclusively on apartment rents.
  • Fort Lauderdale gives Miami a run for its money

    Fort Lauderdale rounds up the top 5. Renting on Las Olas Boulevard, on the Intracoastal, or within walking distance the beach does not come cheap, as apartments in zip codes 33301 (Downtown Fort Lauderdale) and 33304 (encompassing Fort Lauderdale Beach) demand on average $2,431 and $2,327, respectively, per month. Also in the top 10 is 33316 in Fort Lauderdale, with an average rent of $2,175, tying up Miami’s 33145.

    To get out of Southeast Florida, you have to scroll down to no. 15, Fort Myers’ 33967, where renting costs on average $2,081, and to no. 18, St. Petersburg’s 33701, where apartments cost on average $2,006/month.

    See how Florida’s most expensive rents compare to the other states by browsing the interactive map below. You can also hover over the colored bar at the bottom to find out which other states have rents in the same price range as Florida.

    Methodology

    • Data compilation, analysis, and mapping done by RENTCafe using rent and construction data provided by Yardi Matrix, a RENTCafe sister company. Yardi Matrix is a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors.
    • The average rent used in this article was calculated from the actual rents charged in apartment buildings with at least 50 rental units, located in 125 U.S. markets, totaling approximately 15 million apartment units.
    • Zip codes with less than 200 rental units and less than 3 properties were excluded.
    • Rent prices are for apartments only, no single-family homes or townhomes were included.
    • In zip codes covering more than one city, only the primary city designated by the USPS was named.

    Fair use and redistribution

    We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to RENTCafe.com or this page, so that your readers can learn more about this project, the research behind it and its methodology. For more in-depth, customized data, please contact us at media@rentcafe.com.

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About the author

Nadia Balint

Nadia Balint is an online content developer and creative writer for RENTCafe. She loves writing and reading about real estate, lifestyle and travel. She finds joy and inspiration in the little things in life. You can get in touch with Nadia via email: nadia.balint@yardi.com.

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