Rent Tracker
Rent Inflation in Miami, FL
The average asking rent in Miami, FL is $2,693/month as of 2026-05. That is +1.1% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$2,693/mo
as of 2026-05
Year-over-Year Change
+1.1%
24-Month Rent Trend
Monthly ZORI index values for Miami, FL.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-05 | $2,693 | +0.19% |
| 2026-04 | $2,688 | +0.34% |
| 2026-03 | $2,679 | +0.34% |
| 2026-02 | $2,670 | +0.15% |
| 2026-01 | $2,666 | -0.04% |
| 2025-12 | $2,667 | -0.07% |
| 2025-11 | $2,669 | -0.04% |
| 2025-10 | $2,670 | +0.00% |
| 2025-09 | $2,670 | +0.04% |
| 2025-08 | $2,669 | +0.07% |
| 2025-07 | $2,667 | +0.08% |
| 2025-06 | $2,665 | +0.04% |
| 2025-05 | $2,664 | +0.04% |
| 2025-04 | $2,663 | +0.11% |
| 2025-03 | $2,660 | +0.15% |
| 2025-02 | $2,656 | +0.15% |
| 2025-01 | $2,652 | +0.04% |
| 2024-12 | $2,651 | -0.04% |
| 2024-11 | $2,652 | -0.04% |
| 2024-10 | $2,653 | +0.08% |
| 2024-09 | $2,651 | +0.19% |
| 2024-08 | $2,646 | +0.19% |
| 2024-07 | $2,641 | +0.23% |
| 2024-06 | $2,635 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices