Residences at SoMi Parc
5961 SW 68th St,
South Miami, FL 33143
Studio - 3 Beds | $2,075 - $3,675
Rental Market Trends in South Miami, FL
What is the average rent in South Miami, FL?
$2,208/month
Average Rent
679 Sq Ft
Average Apartment Size
+2.1%
Increase in the Last Year
As of July 2025, the average rent in South Miami, FL is $2,208 per month. This is 35% higher than the national average rent price of $1,637/month, making South Miami one of the most expensive cities in the US. When you rent an apartment in South Miami, you can expect to pay about $1,898 per month for a studio, $2,208 for a one-bedroom apartment, and around $3,413 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $5,031 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in South Miami, FL?
In the past year, rent has increased by 2.1%, which averages out to $47 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in South Miami, FL
Last Updated July 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
33%
$1,001 - $1,500/month
47%
$1,501 - $2,000/month
20%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in South Miami?
Based on current rent prices, Cocoplum Terrace is the most affordable neighborhood in South Miami.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in South Miami?
Based on current rent prices, Cocoplum Terrace is the most expensive neighborhood in South Miami.
Neighborhood
Average Rent
Average Sq Ft
Which South Miami neighborhoods have the most rentals available?
The neighborhood in South Miami with the most apartments available is Cocoplum Terrace .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in South Miami, FL?
Because the average rent in South Miami is $2,208, you’ll want to make about $7,360 per month or $88,320 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does South Miami, FL compare to other nearby cities and neighborhoods?
Use the tool below to compare South Miami, FL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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One Bedroom
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Three Bedroom
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Nearby City Rent Trends
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Methodology
† 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 June 2025.
* Percentages may not total 100 due to rounding.