How has Miami’s rental market developed in 2015’s second quarter? New data from Reis provides some perspective.

Miami’s rental market has been one of the hottest in the nation, and new numbers from Reis on the second show show that trend continues.

The graph below shows the effective rent growth from 2015’s first quarter to the second quarter:

At 1.2 percent, Miami’s rental growth boasted one of the strongest growth rates among large metro areas, a fact that extended to its average effective rent:

At $1,223, Miami’s average rent is higher than many metro areas, but it remains far below Boston’s $1,939, San Francisco’s $2,316, or most of all, New York’s eye-popping $3,294.

Finally, here is a graph showing the longer-term effective rent growth over the last year:

Similar to its quarterly growth, Miami’s rental market posted strong increases over last year, with only San Francisco’s 6.8 percent growth being higher.