National Average Rent Levels
The April Rent Report issued by RentCafe shows Miami rent levels as above the national average, except for the submarkets within it of Pompano Beach and Hialeah. Rents across the United States saw an upwards move of 3% versus last year to an average of $1,436 per month. As area multifamily investors are gleefully aware, the Miami Metro long ago surpassed the national average, with rents now more in line with California.
Here are more highlights of the report that related to the Miami area:
- The priciest rental markets in Florida are Fort Lauderdale and Miramar, with average rents of $1,933 and $1,846, respectively
- Around the $1,700 rent level are Davie at $1,743, Pembroke Pines at $1,717, Miami at $1,707 and Coral Springs at $1,698.
- Hollywood ($1,489) and West Palm Beach ($1,463) are more in line with national average rent av
- Pompano Beach at $1,394 and Hialeah at $1,373 average rents are under the national reference points.
Five Most and Five Least Expensive Rent Markets in USA
View fhe report for additional details.