Average monthly rent for apartments and single-family homes in Miami decreased slightly during the third quarter, although costs remained relatively high, according to new rental data from Dwellsy.

Apartments

Renters paid an average of $1,771 for one-bedroom apartments during the third quarter, a decrease of 4.1% year over year. Nationally, the average rent for a one-bedroom apartment reached $1,386. Although the decrease continued a three-year downward trend, Miami rent still sits 27.8% above the national average of $1,386.

Single-family homes

The monthly rent for a three-bedroom single-family home in Miami saw a decrease of 0.6% when compared to the same quarter last year. The slight decline did little to alleviate the market’s high costs. Miami’s average single-family rent of $3,223 sits 65.7% above the national level.