Miami rents keep climbing as buying finally becomes cheaper than renting
By
Rental Beast
The quarter at a glance:
Rents rose across every property type, led by 2-bedrooms at +2.1% quarter-over-quarter
Concessions eased to 30.3% of listings from 35.9% in Q1
Days on market fell to 18 (from 21), down 14.3% quarter-over-quarter
Miami remains one of the rare markets where buying beats renting on a monthly basis, though that advantage narrowed to $39/month from $69 in Q1
Median Rent by Unit Type
Every segment posted gains both year-over-year and quarter-over-quarter, led by two-bedroom rents at $2,450 (+6.5% YoY), among the broadest-based growth of any market this quarter.
Miami, FL · Q2 2026
Median rent by property type
Bars show YoY % change
1BD
+6.3%
$2,179
2BD
+6.5%
$2,450
3BD
+3.4%
$3,131
SF
+6.1%
$3,500
MF
+5.4%
$2,385
Quarter over quarter: 1BD +1.6%, 2BD +2.1%, 3BD +1.0%, SF +0.6%, MF +1.6%Rental Beast
Concessions & Days on Market
Concessions eased to 30.3% from 36.0% in Q1, and days on market improved across every property type, pointing to a market firmly favoring landlords.
Miami, FL · Q2 2026
Concessions and days on market
30.3%
of listings offer a concession down from 36.0% last quarter (up 37.7% YoY) National median: 39.9%
Median days on market
All
18
SF
17
MF
18
All -14.3% (SF -19.0%, MF -14.3%) quarter over quarter
National median: All 22 / SF 20 / MF 24
Rental Beast
Property Managers Market Sentiment
Applicant sentiment grew more divided even as property managers remained unanimous that rents will hold steady, worth watching alongside this quarter's landmark rent-vs-buy reversal.
Miami, FL · Q2 2026
Market sentiment
Do you expect rent prices to increase, decrease, or remain the same over the next 6 months?
Remain the same, 100%
IncreaseDecreaseRemain the same
vs. Q1 2026: 0% increase, 0% decrease, 100% remain the same
Are you currently getting more, fewer, or about the same applicants for your available rentals?
22%
10%
About the same, 68%
FewerMoreAbout the same
vs. Q1 2026: 4% fewer, 3% more, 93% about the same
Rent vs. buy: the math finally flips
For the first time in this report, the math flipped: renting now costs about $39 more per month than buying, a reversal from Q1, when renting was still about $69 cheaper.
Miami, FL · Q2 2026
Rent vs. buy
Rent
$3,131
Buy
$3,092
$39/mo
more expensive to rent than buy, a reversal from Q1 2026, when renting was cheaper. This is the first market in this report where buying looks less expensive than renting.
Rent vs. buy gap by quarter (positive means renting is cheaper)
1Q252Q253Q254Q251Q262Q26
Median list price $500,000 (May 2026). 20% down, 6.5% rate, taxes and insuranceRental Beast
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). Data provided courtesy of Arizona Regional Multiple Listing Service, Inc. 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, 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 Q2 2026 with rental building and community managers and property managers. Questions and answer choices:
Q1. Do you expect rent prices to increase, remain the same or decrease over the next 6 months? [Possible answers: Remain the same, increase, decrease]
Q2. Do you believe you are currently getting more, about the same or fewer applicants for your available rentals? [Possible answers: About the same, more, fewer]
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.
