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Luxury Apartments for Rent in Miami, FL - 495 Rentals available

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Miami’s average rent reached $1,697 in December

Miami’s average rent reached $1,697 in December, after a 0.6% decrease since last year. A major U.S. business hub and a renter-majority city (70%), Miami is a desirable place to live and work in, with apartment prices above the national average of $1,462. [View Full Report]

Miami apartment rent report

Miami’s average rent was $1,697 in December

Miami’s average rent reached $1,697 in December, after a 0.6% decrease since last year. A major U.S. business hub and a renter-majority city (70%), Miami is a desirable place to live and work in, with apartment prices above the national average of $1,462.

This December, the average rent for an apartment in Miami decreased more than in other surrounding cities, such as Fort Lauderdale, where rents reached $1,981 after a 0.3% decrease. Apartment rents in West Palm Beach went up by 3.9% compared to last year, reaching $1,530.

Miami apartment rent report

What it costs to rent in the largest renter hubs in the Miami area

A renter-majority city itself, Miami is surrounded by other cities popular among renters. The city with the largest renter share after Miami is Miami Beach, where renters make up 62% of the city’s households. Miami Beach apartments go for $1,948 on average, which is 1.8% less than last year. After a 2.6% increase, renting in Homestead (61%) averages on $1,321 a month. Lake Worth and North Miami (56%) are also popular among renters. The average rent in Lake Worth is $1,514 following an increase of 3.3%, while apartments in North Miami go for around $1,427 per month after a 3.3% increase compared to last December.

The priciest and cheapest cities for renters in the Miami area

Even after a 5.2% decrease, Coral Gables remains the priciest city for renters in the Miami area, with apartments going for $2,514 per month. Weston is the second most expensive with an average rate of $2,113, while Doral's $2,076 average puts it in third place.

Homestead rentals are the most budget-friendly in the Miami area, with an average price of $1,321. For renters in search of more affordable options, next up are Lauderhill rentals, going for $1,333 per month. Lauderdale Lakes apartments are the third least pricey, with a $1,365 monthly average as of December.

Miami apartment rent report

Methodology

RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. 

The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, 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. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.

Look for luxury apartments near me

Looking for a top of the line, luxury apartment near you to move in to? Are you interested in having all new appliances, on site amenities, a gym, a pool, and private parking? Take a look at our high-end listings and search for the apartment that provides all that you need to feel at home using filters for top community and apartment amenities. On RENTCafé you can find the luxury apartment you are looking for whether it's near you, in a specific neighborhood or ZIP code, or in the best area in town.

RENTCafé can help you find the best luxury apartment for you by allowing you to compare location, size and price. May it be near where you live now or anywhere in the U.S. that you want to move to, let's help you choose the perfect apartment.

Frequently Asked Questions

What is the price of a luxury apartment in Miami, FL?

The price range is between $1,166 and $5,665. Find luxury apartments in Miami, FL.

How many luxury rentals are available in Miami, FL on RENTCafé?

There are 257 luxury rentals available on RENTCafé. Prices and availability in Miami, FL were last updated on 18 Jan 2021.

What is the average size of a luxury apartment in Miami, FL?

The average Miami, FL luxury apartment size is 1,004 sq. ft.

What are the advantages of renting a luxury apartment in Miami, FL?

Renting a luxury apartment in Miami, FL comes with many amenities, more space and central locations.

What are the downsides of renting a luxury apartment in Miami, FL?

Luxury apartments tend to be more expensive and have higher utility bills. You might be interested in studio apartments, 1 bedroom apartments, 2 bedroom apartments or 3 bedroom apartments, or browse all RENTCafé apartments for rent in Miami, FL.

Miami, FL Demographics

  • Total Population451,214
  • Female 222,273
    Male 228,941
  • Median Age40.2

Average Rent in Miami, FL

  • Miami, FL Average Rental Price, October 2020 $1,679 /mo

    Miami, FL Apartment Rent Ranges

    • $701-$1,0006%
    • $1,001-$1,50032%
    • $1,501-$2,00042%
    • > $2,00019%

    Miami, FL Rent Trends

    Average Rent Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Oct / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Oct / 2020
    Miami, FL $1,604 $1,619 $1,662 $1,666 $1,685 $1,729 $1,704 $1,703 $1,697 $1,687 $1,679
    National $1,377 $1,380 $1,417 $1,426 $1,430 $1,466 $1,466 $1,473 $1,474 $1,461 $1,464
    /

    Check out the average rent prices in Miami by neighborhood.

    Miami, FL Households

    • Total Number of Households171,036
    • Family 93,120
      Non-family 77,916
    • Children 41,354
      No Children 129,682
    • Average People Per Household2.58
    • Median Household Income$36,638
    • Median Housing Costs Per Month$1,141

    Miami, FL Education Statistics

    • No High School12%
    • Some High School38%
    • Some College17%
    • Associate Degree7%
    • Bachelor Degree16%
    • Graduate Degree10%

    Renting a luxury apartment in Miami, FL

    Comfort is an essential element to your happiness, which is why we selected the best apartments in Miami, FL, uniquely designed to satisfy your need for luxury. Finely detailed craftsmanship, meticulously chosen color contrasts and high-level amenities complement modern apartments. The community living spaces have indoor pools, ultra-modern spas and wine rooms, a cut above anything you’ve seen before. Upscale apartments can be a real showstopper and you can find yours in one of the 25 outstanding buildings in Miami, FL. Right now, there are as many as 495 luxury apartments to choose from in Miami, FL that pride in being the best of the best. And, as they say -- beauty comes in all shapes and sizes -- you can find luxury studio apartments, large apartments and even luxury townhomes available, depending on your needs. Make sure you do not miss the chance to level up your lifestyle with one of these stunners!

    Affordable high rise apartments

    If you are looking for a luxurious home in Miami, FL but you’re held back by a limited budget, there is no reason to despair. Marvelously furnished apartments are available for you right now at great prices. Do you dream of a custom-designed rental that exudes glamour and character, but yare afraid you won’t afford rent in a high-end apartment complex? Sleek finishes, roof-top pools and monumental granite fireplaces sound expensive and all, but luxury living is not unattainable. Do you dream of drinking your morning coffee in a top-quality chef’s kitchen, but are frustrated with overpriced rent? Look no further! Cheap luxury apartments are actually a thing these days, so you can find luxury apartments in Miami, FL with monthly rents starting as low as $1,166. Sort your search results by “Rent” ascending to see the lowest-priced listings first.

    Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!