Miami One-Bedroom Rents Slipped to $2,500 in September, and Two-Bedrooms Fell Faster

Zumper's National Rent Report for September 2026, published September 28, put Miami's median one-bedroom asking rent at $2,500. That is down 2.0% from August and 1.6% from September 2025. Two-bedrooms fell 3.0% in a month to $3,230, a 3.9% drop from a year earlier. Miami still ranks sixth among U.S. cities in Zumper's report, and WLRN reported the same figures on October 6.

“There really isn't one U.S. rental market right now.”Shawn Mullahy, CEO, Zumper

The rest of the picture

• Fort Lauderdale fell harder on one-bedrooms. Its median one-bedroom was $1,850, flat for the month and down 6.1% from a year ago. Two-bedrooms were $2,700, up 0.4%.
• Miami is still far above the country. Zumper's national medians were $1,518 for a one-bedroom and $1,903 for a two-bedroom, so Miami's one-bedroom runs about 65% above the national figure.
• Developers point to supply. “There's a lot of supply out there in the market,” Matthew Baron of Baron Property Group said at a Bisnow event covered on September 24. Bisnow cited a MIAMI REALTORS report counting more than 19,000 units in the Miami-Dade pipeline, nearly 10% of inventory versus 3.5% nationally.
• Renewals are now the fight. “If you're competing with renewals in your original lease-up, it's going to be a disaster,” Andrew Barrocas of MNS Real Estate told Bisnow. Colliers, per Bisnow, had Miami-Dade's average rent at $2,590 in the second quarter, unchanged from a year earlier.

One caution on reading these. Zumper tracks median asking rents for one- and two-bedroom units. Other trackers measure different things, such as all unit sizes together, so setting a Zumper one-bedroom figure next to another source's all-units number does not show a price change. Compare Zumper to Zumper.

My read

For renters, this is a fall where asking costs nothing. If your renewal arrives with an increase, check what comparable units in your building and the newer buildings nearby are asking, then ask for something: a free month, a parking space or a flat renewal. The worst answer is no. For landlords and investors, the Barrocas line is the one to remember. Your tenant at renewal is shopping the same lease-ups you are competing with. Pricing a renewal slightly under market to keep a good tenant usually beats a vacant month, turnover costs and a concession to the next one. If you are buying a condo to rent out, underwrite flat to slightly lower rents, not last year's growth. Existing condos in Miami-Dade carried 12.1 months of supply in August, per MIAMI REALTORS, so you have room to negotiate the purchase price until the numbers work.