Miami 3-bedroom rents rose to $3,200 in Q3 2026, concessions eased to 28.8%, and buying now costs just $25 more per month than renting.
The 3-bedroom median rose 2.2% to $3,200, its eighth straight quarterly gain, and 1- and 2-bedroom rents are each up more than 7% year over year.
Concessions eased to 28.8% from 30.3% in Q2, and median days on market fell to 17 as multifamily units leased in 15 days.
Nearly every manager surveyed expects rents to hold steady, but 34% now report fewer applicants, up from 22% in Q2 and 4% in Q1.
Buying costs just $25 more per month than renting, the second-narrowest gap among tracked metros and the first time since Q3 2025 that owning costs more than renting.
Download the full national analysis including rent-vs-buy and sentiment data across every tracked metro: Q3 2026 National Rental Market Report
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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 Q3 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.
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