Miami-Dade County Real Estate Market Snapshot
Rental Rates & Vacancy Report
Market Snapshot
Miami-Dade County Rental Rates & Vacancy
This October 2026 snapshot examines rental rates and vacancy across Miami-Dade County’s office, retail, industrial, and multifamily submarkets.
Rates presented herein are based on current market data and are provided for informational purposes only.
Office
Location-Driven Desirability Shapes Office Performance
Miami’s office submarket data shows a clear split between premium, high-demand districts and emerging or more volatile areas.
Brickell commands the highest rates at $120/SF despite a 12.5% vacancy, reflecting its position as Miami’s financial core where pricing power remains strong even with available space.
Miami Beach stands out with exceptionally low vacancy (1.9%) and very high rates, signaling extremely tight supply and sustained demand for boutique, high-image office space.
In contrast, Wynwood and Downtown Miami show elevated vacancies (20.1% and 19.3%), suggesting softer demand or significant new inventory pressuring absorption.
Submarkets like Coconut Grove and Coral Gables maintain mid-tier rates with moderate vacancies, indicating stable but not overheated conditions. Aventura and Doral (Airport West) sit at the lower end of the rate spectrum, with vacancies around 13–14%, reflecting more price-sensitive, suburban office dynamics.
Overall, the data illustrates a market where location-driven desirability sharply influences both achievable rents and occupancy performance.
Retail
Luxury Corridors and Tight Neighborhood Retail
Retail performance across Miami-Dade shows a sharp hierarchy driven by luxury positioning, tourism strength, and neighborhood identity.
The Design District leads the county with extraordinary rents of $250/SF NNN, supported by global luxury brands and a tight 6.7% vacancy, reflecting its status as Miami’s premier high-fashion district. Lincoln Road follows with $175/SF and low vacancy, sustained by heavy pedestrian traffic and strong tourist demand.
Coconut Grove stands out with near-zero vacancy (0.9%), indicating extremely constrained supply and strong local affluence despite more moderate rents.
Miami Beach, Aventura, Brickell, and Coral Gables form a stable mid-tier cluster, each showing low vacancies (1.5%–4.6%) and rents between $65–$95/SF, signaling healthy demand for neighborhood-serving and lifestyle retail.
In contrast, Wynwood and Downtown Miami show slightly higher vacancies around 6%, reflecting ongoing transitions in tenant mix and evolving retail identity.
Overall, the data highlights a market where luxury corridors command premium pricing, while neighborhood retail remains exceptionally tight, underscoring Miami-Dade’s strong consumer base and limited supply in key districts.
Industrial
Transportation Access Drives Industrial Rent Premiums
Miami-Dade’s industrial market shows exceptionally tight conditions, with rents and vacancies closely tied to proximity to major logistics corridors.
Northeast Dade leads the county at $25/SF NNN with a remarkably low 1.5% vacancy, reflecting intense demand for infill space near I-95 and dense consumer populations.
Airport West (Doral) remains one of the region’s core distribution hubs, achieving $17.90/SF and a healthy 5% vacancy, while Medley, Hialeah/Miami Lakes, South Dade, and Northwest Dade cluster in the $15–$17/SF range with vacancies around 7%, indicating steady demand but some availability due to ongoing deliveries and tenant reshuffling.
Airport East shows strong fundamentals with $15.25/SF and only 3% vacancy, benefiting from immediate airport adjacency. Central Dade, at $12.75/SF and 8.5% vacancy, represents the most affordable and loosest submarket, likely influenced by older inventory and less strategic logistics positioning.
Overall, the data highlights a market where location efficiency and transportation access drive rent premiums, while vacancies remain low enough to signal sustained tenant demand across nearly all industrial nodes.
Multifamily
Urban Core and Coastal Neighborhoods Command Premium Rents
Miami-Dade’s multifamily market shows strong rent levels and generally tight vacancies, with performance closely tied to neighborhood desirability and lifestyle appeal.
Midtown Miami leads the county at $4.59/SF with a healthy 5.5% vacancy, reflecting its appeal to young professionals seeking walkable, amenity-rich living.
Miami Beach, South Beach, and Edgewater also command premium rents between $4.20–$4.50/SF, supported by very low vacancies (3.4%–5%), indicating sustained demand for coastal and high-image urban neighborhoods.
Wynwood and Brickell show elevated vacancies—9% and 10.1%—suggesting ongoing lease-up, new deliveries, or pricing resistance at the top end of the market.
Submarkets like Doral, Coral Gables, Aventura, and Little Havana cluster in the mid-$3/SF range with vacancies around 4–5%, reflecting stable, diversified renter demand. Kendall, at $2.80/SF and 3.9% vacancy, represents the most affordable option, driven by suburban product and strong occupancy.
Overall, the data highlights a market where urban core and coastal neighborhoods command premium rents, while suburban areas remain highly occupied and competitively priced.
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