5 Affordable Neighborhoods in Miami, FL
Enchanted by the Magic City? These five affordable Miami neighborhoods make living in this sun-drenched city spellbinding.
Area Guide
Avg Rent
$2,232
Population
443,741
Renter Mix
72% Rent
Miami earns its nickname, the Magic City, with a skyline that rivals the country's biggest metros, beaches just minutes from downtown, and neighborhoods that feel like a world of their own. Wynwood draws visitors and locals alike with its sprawling outdoor murals and gallery scene, while Brickell hums with a financial district energy and easy Metromover access. Little Havana pulses with Latin culture and Coconut Grove offers a laid-back alternative near the waterfront. Bayfront Park and the Pérez Art Museum Miami give residents plenty of green space and attractions without ever leaving the city.
The rental landscape reflects Miami's wide range of lifestyles. Sleek high-rise apartment communities in Brickell and Downtown sit alongside Mediterranean-style rentals in Coconut Grove and colorful townhomes throughout Little Havana.
Florida International University and the University of Miami both call the area home, adding an energy to the city's already lively atmosphere. Miami also serves as the busiest cruise port in the world — a distinction that speaks to its deep connection with global culture and commerce, making it one of the most internationally connected places to live in the entire country.
The historic Vizcaya Museum and Gardens is located in the Coconut Grove neighborhood
Miami's fairways and greens.
A pedestrian walkway in the Design District
Shopping in the Design District
A scenic view of the Country Lake shoreline.
Sign at entrance to Opa-Locka Executive Airport.
Median Household Income
$52,516
Average: $80,519
Education
151,990
Residents Have a Degree
Job Market
236,768
Workers Employed
Median Age
41 Years
Largest Age Group
30-39 Years
Approximately 17% of Residents
Under 20
20%
Over 65
18%
Housing Distribution
Miami has more renters than homeowners.
Education Distribution
Review this city's overall education levels.
As of May 2026, the average apartment rent in Miami, FL is $2,085 for a studio, $2,230 for one bedroom, $2,812 for two bedrooms, and $3,598 for three bedrooms. Apartment rent in Miami has increased by 0.1% in the past year.
The cost of living in Miami, FL is 20.0% higher than the national average. Generally, housing in Miami is 57.3% more expensive than the national average, with rent falling between $2,085 - $3,598. You can expect to pay 8.9% more for groceries, 3.3% more for utilities, and 0.4% less for transportation.
Compare Cities
5 Affordable Neighborhoods in Miami, FL
Enchanted by the Magic City? These five affordable Miami neighborhoods make living in this sun-drenched city spellbinding.
12 Things to Know Before Moving to Miami
Thinking about moving to Miami? Locals share everything you need to know about life in the Magic City, from traffic to festivals and from jobs to the weather.
Is Miami a Good Place to Live?
Thinking about moving to Miami? Here are some pros and cons of living in the Magic City to help you decide.
5 Most Luxurious Rentals in Miami
Want a peek into the lives of the rich and famous? Here are the top five most lavish rentals in Miami.
6 Best Miami Neighborhoods for Beach Lovers
Discover the top Miami neighborhoods for beach lovers. Find your perfect coastal spot with our guide to the best beachside living areas!
5 Best Neighborhoods in Miami, FL for Renters
Don't know where to start your Miami rental search? Here are five Miami neighborhoods perfect for renters.
Explore how walkable, bikeable, drivable, and transit-friendly Miami, FL is for everyday living.
Very Walkable
Walkability
Good Public Transit
Transit
Exceptionally Drivable
Drivability
Fairly Bikeable
Bikeability
Norma Butler Bossard Elementary School
Public
Grades PK-5
954 Students
Highly Inquisitive & Versatile (Hive) Preparatory School
Public
Grades K-8
844 Students
Public
Grades PK-5
674 Students
Public
Grades PK-5
671 Students
Kendale Lakes Elementary School
Public
Grades PK-5
669 Students
Herbert A. Ammons Middle School
Public
Grades 6-8
1,018 Students
Highly Inquisitive & Versatile (Hive) Preparatory School
Public
Grades K-8
844 Students
Mater Academy Biscayne Middle School
Public
Grades 6-8
646 Students
Pinecrest Academy (North Campus)
Public
Grades K-8
448 Students
Archimedean Middle Conservatory
Public
Grades 6-8
337 Students
Terra Environmental Research Institute
Public
Grades 9-12
1,634 Students
Archimedean Upper Conservatory Charter School
Public
Grades 9-12
319 Students
School For Advanced Studies - South
Public
Grades 9-12
300 Students
School For Advanced Studies-Wolfson
Public
Grades 9-12
134 Students
School For Advanced Studies North
Public
Grades 9-12
121 Students
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Data provided by
GreatSchools.org
© 2026. All rights reserved.
3,524
Communities
968,525
Units
894
Cities
36
Communities
9,108
Units
17
Cities
26
Communities
8,767
Units
10
Cities
368
Communities
109,929
Units
142
Cities
218
Communities
71,470
Units
121
Cities
16
Communities
3,413
Units
10
Cities
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.