$2,950 Per Month
- 1 Bed
- 1.5 Baths
- 924 Sq Ft
- Condo for Rent
5838 SW 74th Terrace Unit 317, South Miami, FL 33143
5838 SW 74th Terrace Unit 317, South Miami, FL 33143
Frequently Asked Questions
How much does it cost to rent a condo in South Miami, FL?
The median rent for a condo in South Miami, FL is $2,100 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in South Miami, FL?
To comfortably afford the median rent in South Miami, FL, a household needs to earn roughly $100,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,500 per month in South Miami, FL, renters typically need to show $7,500 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in South Miami, FL?
In South Miami, FL, the price-to-rent ratio is 34.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in South Miami, FL are best for renting a condo?
The best neighborhood for renting in South Miami, FL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Lower Riviera, South Miami-Kendall, Downtown Kendall, Sunrise Point and Southeast Gables, each with its own character and price range.
