Miami Rental Yields by Neighborhood

How to Read a Miami Rental Yield

Gross rental yield is annual rent divided by purchase price. Net yield subtracts HOA fees, property tax, insurance, maintenance reserve, vacancy, and management. In Miami-Dade, net yields typically run 60–75% of gross because HOA fees on luxury condos are substantial and insurance has escalated sharply since 2022. The National Association of Realtors tracks Miami-Dade among the top U.S. metros for rental transaction volume, and the Miami-Dade County Property Appraiser publishes assessment data used in every underwriting. Tenants and landlords can review our approach to rental representation in Miami.

Brickell — Yield Anchor of Miami-Dade

Brickell is Miami's deepest urban rental market. One- and two-bedroom condos in quality buildings routinely produce 5%–7% gross yield, driven by finance, legal, and tech professionals plus a large international relocation pool. Occupancy in well-managed buildings exceeds 95% and turnover cycles are short. Buildings with flexible rental policies (allowing 30-day minimums) capture the higher end; buildings capped at 12-month minimums produce the lower end at higher stability.

See the Brickell neighborhood guide for building-level rental policy notes and the Brickell real estate agent page for local advisory.

Edgewater and Midtown — Yield With Newer Inventory

Edgewater has emerged as one of Miami's strongest yield submarkets. New construction from 2018 onward — Paraiso, Missoni, and adjacent towers — trades at lower price per square foot than comparable Brickell inventory while capturing similar rental demand. Gross yields commonly land at 5%–6% with strong occupancy. Midtown offers a similar profile with more mixed-use energy.

See the Edgewater condos guide for building-level rental context.

Miami Beach — Building-Dependent, STR-Sensitive

Miami Beach yields depend almost entirely on the building and the STR regulatory posture. Buildings with 30-day-minimum flexibility and STR eligibility in designated zones produce premium yields, especially during peak season (November–April). Buildings capped at 6- or 12-month minimums produce lower gross yields but stable, high-quality tenant profiles. Insurance and HOA fees are among the highest in Miami-Dade, so net yield modeling is essential.

See the Miami Beach condos guide and the short-term vs. long-term rules before modeling.

Coral Gables and Coconut Grove — Appreciation Over Yield

Single-family homes in Coral Gables and Coconut Grove typically produce 3%–5% gross yield. The tradeoff is stronger long-term appreciation, driven by scarcity, lot patterns, and neighborhood character. These submarkets tend to attract longer-tenure tenants, which can lower turnover and offset the lower gross yield.

See the Coral Gables guide and the Coconut Grove guide.

Emerging Value Corridors — Little Havana, Allapattah, Little River

Below-median-price neighborhoods can produce 6%–8% gross yield today with meaningful appreciation upside as infrastructure investment continues. These corridors carry more tenant-quality variability and require experienced local management. For investors comfortable with active management, they represent the highest current yield in Miami-Dade.

From Gross to Net — What Actually Reaches the Owner

Model every candidate with full deductions: HOA (highest impact in luxury buildings), property tax (~2% of assessed value in Miami-Dade), insurance (up sharply, budget conservatively), maintenance reserve (5–10%), vacancy (5–8%), and management fee (8–10% if outsourced). Net yield typically lands at 60–75% of gross. For international owners, layer FIRPTA planning per the taxes for foreign property buyers guide.