What Does Miami's Short-Term & Long-Term Rental Market Look Like in 2026
- 5 hours ago
- 4 min read
If you've been looking at Miami's rental market, then you know that it looks a bit split.
Right now, it feels a bit as if there were two different Miamis and they're both sort of fighting for the same space. What's happening is that you've got your short-term tenants on one side (e.g., tourists, remote workers, etc.) and on the other, there are the long-term renters who are looking for a place to settle down (semi-permanently or permanently, but they can't afford to buy a house, so they rent).
And logically, you'd think this is happening in all neighborhoods, but that's not really the case. Some districts are cashing in on short-term rentals, while others are seeing a greater boom in year-round leases.
So what's actually going on here?
Miami's 2026 Rental Demand
Even though people aren't pouring into the city as they did 5 years back, the fact remains that it's still going.
You've got entire families moving here, remote workers, people who are sick and tired of the cold weather, etc., etc. And a huge chunk are renting instead of buying, at least for now. Why? Perhaps they just can't afford to buy the property, perhaps they aren't eligible for a massive credit loan, perhaps they just want to live here for a year to see what it's like and then make the decision – there could be lots of reasons behind that 'why'.
Remote work made this super easy because you're no longer forced to live close to the office.
What you can do now is basically LIVE at the beach and still do your job (in your pajamas or your swimsuit – it doesn't matter). Since you don't have to go to the office, there's no need to commute, meaning you can skip all that and do some quality work literally WHEREVER as long as your internet connection is stable.
But yeah, you can't forget about tourism. Since Miami is packed throughout the year, thanks to all the big events and people looking to see the city, it might be full all the time.
If you want to buy a place, though?
That's a tough one because mortgage rates are still high, and the prices aren't dropping. So even if you have a good job, there's a good chance you'll be staying at a rental longer than you have planned.
Investors are very aware of all this, but they're careful. It's not like they're maniacs who buy everything and then hope the value goes up. To remain liquid, they need those rentals to be profitable from day one.
That's why you'll see investors talking about 'projected rent' whenever there's a new investment being planned. Projected rent is a key player in investment planning. Especially if you're relying on Florida DSCR loans, which have a huge focus on what a property can earn rather than what a buyer is earning 'on paper'.
Miami Neighborhoods/Districts Where Short-Term Rentals Work Great Right Now
These four areas are where short-term rentals are currently crushing it. Not to say that there aren't other parts, but these seem to be doing particularly well.
Brickell
Brickells's renters want high-rise modern condos, and they want restaurants within walking distance (traffic is a nightmare). Brickell has plenty of that to offer, so it's a natural pick. Of course, the water views don't hurt, and they're more than willing to pay for all this.
The nightly rates are high because the demand is high, so this is steady money.
Wynwood
This part of Miami is all about weekends and parties.
Younger crowds book Thursday through Sunday to be close to everything that's happening. When Art Basel or a big concert hits the town, occupancy is through the roof.
Still, this isn't as consistent as Brickell, although it's absolutely packed when it's busy.
Miami Beach
Snowbirds and tourists LOVE Miami Beach, and they'll happily pay top dollar for views of the ocean. Winter is by far the busiest season here, and the infrastructure is all there. You've got plenty of beaches, hotels, and restaurants.
Keep in mind that there aren't as many units available because regulations are tighter.
Edgewater
The calm one.
It's right next to the water, but it doesn't have the high prices Miami Beach has, and it isn't as busy as Brickell. Luxury towers keep popping up, and they attract a mix of people.
Miami Neighborhoods/Districts Where Long-Term Rentals Are on the Rise
Some renters prefer to relocate, or perhaps just to live in another place for a prolonged period; these three areas seem to have a greater focus on long-term rentals:
Here's where they go.
Little Havana
This neighborhood has a very homey feel. It's got character, food, culture, and families that have been there for generations.
Young families and essential workers are moving in because it's still affordable and, with new upgrades being made to the streets and buildings, it's not hard to see why so many consider it a good place to live.
Allapattah
This is right next to Wynwood, but the rent is way lower. Allapattah used to be all warehouses. Now? You see all types of new buildings popping up, particularly apartments. If you're an investor, then you already know this, and you're likely in on the action.
It's still early, though, but you get to live close to the action without paying the Wynwood tax.
West Kendall
This one just keeps growing and growing.
And it makes sense because there's space here. Yards, parking spots, you'll find those and more. Vacancies are pretty low because once you settle in, you'll be in no rush to leave. West Kendall is like your typical suburban neighborhood, and that's why it's so popular.
Conclusion
Miami isn't one market. It's more of an amalgamation of a couple of different markets. And each one seems to have different rules and different stats behind them.
What works today might not work in a year – and that's equally scary as it is exciting. And that's the thing about Miami – it's never still. Neighborhoods flip, renters change their minds, tourists come and go, and investors? Well, either they adapt, or they get left behind.
Basically, there's no one right way to play this city.