According to the latest nation rent report by Zumper, Miami’s median rent from January 2020 to January 2021 decreased by a whopping 9.1%, while Fort Lauderdale’s median rent rose by 3%.
Currently, Miami’s average rent is $1,600 per month for a one-bedroom unit, versus $1,690 in Fort Lauderdale for the same unit.
However, despite this major shift, Miami and Fort Lauderdale are still among the top 15 most expensive cities for rent, according to the report.
Fort Lauderdale ranked as the 11th most expensive, while Miami is in the 13th spot.
AdAlso notable on the list was the fact that Seattle ($1,560 per month), Chicago ($1,540 per month), and Atlanta ($1,480 per month), are all currently cheaper than Miami and Fort Lauderdale.