Last week, real-estate website Zumper calculated the median rent of an apartment in several Miami neighborhoods. The prices ranged from $680 in inner-city Brownsville to more than $4,500 on exclusive Fisher Island. That study made us wonder what paying the median rent in those neighborhoods would actually get you, though. So we decided to find out.
Our plan is pretty simple: We began with the median rent as calculated by Zumper and then checked out listings for apartments listed at that price in each neighborhood.
A couple of qualifiers before jumping into our findings:
1. Zumper's analysis (and the listings we've compiled) can't account for the actual median rent in each neighborhood. The prices are just reflections of the median rents for apartments listed over the past few months in Zumper's database. That data doesn't catch things like apartments found by word of mouth or even on sites like Craigslist.
2. In some cases, we couldn't find a unit with the exact median rent, so we found the closest match.
3. There's also no mathematical equation to find what the "average" apartment is, and our search was limited by what's available on the market right now. Sometimes we found an apartment in the same neighborhood that looked a bit nicer at a lower price, but that's just how the apartment hunt goes.
Median Rent: $1,930
This Apartment's Rent: $1,950
Edgewater is booming with new luxury construction (in fact, much of it is still under construction), but apparently the average rent there will get you a rather nice but ultimately pretty basic one-bedroom in one of the neighborhood's oldest high-rises, the Charter Club. This place does feature newer upgrades like granite countertops and stainless-steel appliances, and you do get a view of Biscayne Bay from your balcony.
Median Rent: $2,100
This Apartment's Rent: $2,100
Downtown offers a lot of inventory at its median price point. However, for the median price, you'll have to choose between a better apartment or a better view. This unit doesn't offer views of the Miami River, but it's pretty sleek inside.
Median Rent: $1,080
This Apartment's Rent: $1,050
Once you get out of the high-rise-heavy neighborhoods, you begin to find that most of your options are in smaller, two-story buildings. Clearly, the landlord hasn't gone for many recent renovations at this Little Haiti spot.
East Little Havana
Median Rent: $1,610
This Apartment's Rent: $1,700
We had to go about $90 above budget, but one could live like a relative king here at the Terrazas River Park Village right on the Miami River. You're definitely in Little Havana, though. This building is just a bit northwest of Marlins Park.
West Avenue on South Beach
Median Rent: $2,010
This Apartment's Rent: $2,000
Yes, it's the infamous Flamingo building. There's nothing fancy here, not even bay views, but you're still on South Beach in a massive building with tons of interesting neighbors.
Median Rent: $2,100
This Apartment's Rent: $2,100 Technically, this is a loft situation, where the bedroom is perched atop a staircase and not completely walled in. You get all the amenities, though, and views of the city and river.
Median Rent: $1,650
This Apartment's Rent: $1,650 Ooh la la! Hardwood flooring and an open floor plan. You won't feel cramped here, and even if you do, there's a nice balcony.
Northeast Coconut Grove
Median Rent: $1,600
This Apartment's Rent: $1,600
Yes, you're looking at a lot of mirrored walls here. The apartment is perfect for if you like to look at yourself inside a cozy but not particularly modern midsize building.
Median Rent: $1,650
This Apartment's Rent: $1,650 The Upper Eastside is known for its MiMo architecture, but here you'll be in a low-rise complex so modern it's called Nirvana. According to the listing, the corner unit was recently renovated and the building offers amenities like an infinity pool and fitness center.
Median Rent: $2,280
This Apartment's Rent: $2,200
This is a no-nonsense apartment in a nondescript Mid-Beach tower. You wouldn't have direct views of the ocean, but this is the only apartment on the list that is directly on the beach.