Miami is one of the few major markets posting rent growth across every property type in Q1 2026, with year-over-year gains ranging from 3.3% to 8.8% depending on unit type. Days on market are tightening for some units, concessions are elevated, and, in a striking shift, the monthly cost of owning has nearly converged with renting a 3-bedroom.
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Rent growth in Miami is broad and consistent. One-bedrooms are up 6.2% year-over-year to $2,145, 2-bedrooms are up 6% to $2,400, and 3-bedrooms rose 3.3% to $3,100. Single-family rentals posted the strongest gain at +8.8% YoY, with a median of $3,480, the highest of any property type tracked. Multi-family units climbed 5% to $2,347. Miami is one of the only tracked markets in Q1 2026 showing positive year-over-year movement across all five tracked segments simultaneously.
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The concession rate edged up to 35.9%, compared to the national rate of 41.8%, Miami remains meaningfully below the national average despite its year-over-year increase. More than one in three listings is still offering an incentive, so renter clients who ask for concessions have a reasonable chance of getting one.
Median days on market fell to 21 days in Q1 2026, down 8.7% from 23 days in Q4 2025, one of the faster-leasing markets. Single-family and multi-family properties are both moving at the same 21-day pace, indicating uniform demand across property types.
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Miami landlord sentiment is among the most stable in Q1 2026:
No other market in our survey data comes close to that level of consensus on rent stability. Miami landlords are not hedging.
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Miami is now the most affordable major metro to rent relative to buying of the markets Rental Beast tracks. The monthly cost of owning a median-priced home ($500,000 list price as of March 2026) comes to approximately $3,031, just $69 below the 3-bedroom median rent of $3,100. The rent-vs-buy gap has collapsed from $1,163/month a year ago.
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Calculations use Q1 2026 rents and a mortgage with 20% down, a 6.2% interest rate, taxes, and insurance to show the cost of renting versus buying.
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Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Single-family rentals are considered to be properties with 4 or fewer units. Multifamily is more than 4 doors. Unless otherwise noted, our analysis uses the Miami-Fort Lauderdale-Pompano Beach, FL, metropolitan statistical area (MSA) as the geographical unit.
Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.).
Our sentiment survey is based on phone conversations during Q1 2026 with rental building and community managers and property managers. Questions and answer choices:
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.
©2026 by Rental Beast
