Rents in Miami continue to hold stable according to Zumper's fall 2016 rental housing report. The report reflects median rents for 1-bedroom units across 60 Miami neighborhoods. Data shows that median rents are down a bit in Edgewater, Brickell and West Avenue on Miami Beach. Essex Village and Flagler have the fastest growing rents and are both up 11% since Q2 2016. Fisher Island has the highest median rent for a 1-bedroom unit at $5,100 per month. With such a glut of new inventory hitting the market it is imperative for investors to stay current on rental prices across various neighbors over the next several quarters.   

3 Most Expensive Neighborhoods:

1. Fisher Island - $5,100

2. Park West - $2,500

3. Village of Key Biscayne - $2,350

3 Cheapest Neighborhoods:

1. Brownsville - $660

2. Pinewood Park - $880

3. Liberty City/ West Little River/ Gladeview - $900