All 24 neighborhoods in Miami ranked by cost of living index. Updated 2026.
| # | Neighborhood | 1BR Rent | Index | vs Avg |
|---|---|---|---|---|
| 1 | Homestead | $1,700/mo | 0.68x | -32% |
| 2 | Overtown | $1,750/mo | 0.70x | -30% |
| 3 | Hialeah | $1,800/mo | 0.72x | -28% |
| 4 | Little Havana | $1,950/mo | 0.78x | -22% |
| 5 | Westchester | $1,950/mo | 0.78x | -22% |
| 6 | Kendall | $2,000/mo | 0.80x | -20% |
| 7 | North Miami | $2,050/mo | 0.82x | -18% |
| 8 | Doral | $2,200/mo | 0.88x | -12% |
| 9 | Downtown Miami | $2,700/mo | 1.08x | +8% |
| 10 | Aventura | $2,700/mo | 1.08x | +8% |
| 11 | Wynwood | $2,750/mo | 1.10x | +10% |
| 12 | Edgewater | $2,750/mo | 1.10x | +10% |
| 13 | Midtown | $2,800/mo | 1.12x | +12% |
| 14 | Pinecrest | $2,800/mo | 1.12x | +12% |
| 15 | Coconut Grove | $2,875/mo | 1.15x | +15% |
| 16 | Sunny Isles | $2,875/mo | 1.15x | +15% |
| 17 | Design District | $2,950/mo | 1.18x | +18% |
| 18 | Surfside | $2,950/mo | 1.18x | +18% |
| 19 | Coral Gables | $3,000/mo | 1.20x | +20% |
| 20 | Miami Beach | $3,050/mo | 1.22x | +22% |
| 21 | Brickell | $3,125/mo | 1.25x | +25% |
| 22 | South Beach | $3,250/mo | 1.30x | +30% |
| 23 | Bal Harbour | $3,300/mo | 1.32x | +32% |
| 24 | Key Biscayne | $3,375/mo | 1.35x | +35% |
Rent estimates based on city average of $2,500/mo adjusted by neighborhood cost index. Index 1.00 = city average.
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Open a Wise Account →The cheapest neighborhood in Miami is Homestead, with an estimated 1-bedroom rent of $1,700/month — 32% below the city average.
The average 1-bedroom rent in Miami is approximately $2,500/month. Rents range from $1,700/mo (Homestead) to $3,375/mo (Key Biscayne).
Our database covers 24 neighborhoods in Miami, each with detailed cost-of-living and salary data.