Coral Gables Rent Report: September 2024

Welcome to the Apartment List September 2024 Rent Report for Coral Gables, FL. Currently, the overall median rent in the city stands at $2,232, roughly the same as last month. Prices and are now up 10.8% year-over-year. Read on to learn more about what’s been happening in the Coral Gables rental market and how it compares to trends throughout the broader Miami metro area and the nation as a whole.

Coral Gables rents are flat month-over-month and up 10.8% year-over-year

The median rent in Coral Gables rose by 0.1% over the course of August, and has now increased by a total of 10.8% over the past 12 months. Coral Gables’s rent growth over the past year has has outpaced both state (-2.0%) and national (-0.7%) averages.

Coral Gables rent growth in 2024 pacing above last year

Eight months into the year, rents in Coral Gables have risen 15.6%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to August 2023 rents had decreased 2.5%.

Coral Gables rents are 23.2% higher than the metro-wide median

If we expand our view to the wider Miami metro area, the median rent is $1,812 meaning that the median price in Coral Gables ($2,232) is 23.2% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at -0.5%, below the rate of rent growth within just the city.

The table below shows the latest rent stats for 23 cities in the Miami metro area that are included in our database. Among them, Boca Raton is currently the most expensive, with a median rent of $2,432. North Miami is the metro’s most affordable city, with a median rent of $1,497. The metro's fastest annual rent growth is occurring in Coral Gables (10.8%) while the slowest is in Coral Springs (-7.1%).

You can also use the map below to explore the latest rent trends in the Miami metropolitan area.

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.