Miami multifamily market, October 2026

Landlords have the edge in Miami, and it is holding steady: asking rents are up 1.6% on a year, while jobs grew 0.4%.

Updated October 31, 2026 · from Zillow, BLS and the US Census Bureau

+1.6%

Asking rent, year over year

Zillow · September 2026

+0.4%

Jobs, year over year

BLS · September 2026, preliminary

7.3%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are up 1.6% on a year to September 2026, which is the figure the condition is read from. Jobs are up 0.4% over the same year to September 2026, a first release the BLS revises the following month. Nothing is pulling hard either way in the latest figures (September 2026).

The backdrop

These are yearly Census counts, not this month's: 7.3% of rentals sat empty in 2024, permits for new apartments were up 67% in 2025, more people moved out than in in 2025, and the typical rent was $2,083 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about Miami

Answered from the data, updated October 31, 2026

Is the Miami rental market tight or soft right now?

In Miami right now, landlords have the edge, and it is stable.

Which way is the Miami market heading?

Miami is stable right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Miami a landlord's or a renter's market?

Miami is a landlord's market right now: landlords have the edge, and it is stable.

What is the vacancy rate in Miami?

Vacancy in Miami is 7.3% in the 2024 count, a yearly snapshot rather than a monthly reading (US Census Bureau).

How much have Miami rents changed?

Asking rents in Miami are up 1.6% over the past year (Zillow ZORI, monthly, latest Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

Miami-Dade Allocates $10 Million to Prevent Familial Housing LossCubaHeadlines

Florida’s housing crisis deepens, Miami-Dade faces 118,000-home shortage; $53 million project aims to turThe Times of India

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Terra, Fortune land $220M pre-dev debt for Key Biscayne condos, adding to streak of jumbo South Florida loansTRD South Florida

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Miami-Dade Faces Shortage of Affordable Housing: County Turns to 'Backyard Homes' and a Coalition of 40 InstitutionsCubaHeadlines

See all Miami news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.
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