One of the most hotly debated basketball awards categories is the NBA Rookie of the Year Award. This year, that conversation is dominated by two names: the Memphis Grizzlies’ Ja Morant, and the New Orleans Pelicans’ Zion Williamson. Yet plenty of other rookies have had impressive first seasons, include Miami Heat rookie Tyler Herro.
Back in March, Herro did a short video with GQ Sports, in which he discussed how he spent his the first million dollars he earned in the NBA. During the course of the video, Herro revealed the surprising amount that he spends to rent an apartment in Miami.
Tyler Herro’s impressive rookie season
The Heat drafted Herro with the 13th pick of the 2019 NBA Draft. The 6-foot-5 shooting guard was prized for his elite shooting skills, honed during his single year of college ball with the Kentucky Wildcats.
His lack of a one-on-one game and defensive shortcomings kept Herro from going higher in the draft, although the Heat were confident in their ability to mold Herro into a solid shot-making specialist.
The early returns would suggest that the Heat were correct in their optimism about Herro, who quickly became a core part of their rotation. In over 27 minutes per game — mostly coming off of the bench — Herro has scored an impressive 13.5 points per game. He’s also snagged 4.1 rebounds per game, while dishing 2.2 assists.
Even more importantly, Herro has proved that his shooting skills can translate to the NBA level. Moreover, he has actually improved his shooting efficiency, knocking down 38.9% of his three-point shots — a truly impressive display of marksmanship, especially for a rookie.
Since the NBA restarted in Orlando, Herro has also shown an improved ability to create his own shot, and even drive right to the basket.
A massive monthly rent bill
The Heat signed Tyler Herro to his rookie contract in July 2019. During the 2019-20 season, that contract earned Herro $3.6 million (per HoopsHype) — a pretty hefty chunk of cash to put in the hands of a young man.
Yet while Herro certainly indulged in some impulse buys, he also recognized the importance of managing his money and quickly hired a financial adviser.
Nonetheless, the amount of money Herro has spent on certain things will likely come as a shock to people of more modest means. When it comes to rent, Herro drops a staggering $5,000 a month on his apartment.
In other words, over the course of his first year in Miami, he will spend a total of $60,000 on rent — more than many people make in an entire year.
Projecting Tyler Herro’s future in the NBA
Dropping that kind of money on rent each month might not seem like the wisest financial decision. After all, many people would argue, wouldn’t it be smarter to just invest that money in buying a home? For most of us, the answer would be a resounding yes. Yet for a rookie in the NBA, the answer is not quite so clear cut.
After all, there’s no guarantee that Herro will end up staying in Miami long-term. According to Hot Hot Hoops, the Heat have been adamant that they will not include Herro in any trade packages. The team’s unwillingness to part with the talented young guard was a significant hang-up in their attempt to acquire superstar Russell Westbrook last summer.
Since then, Herro has proved himself far more capable of producing at an NBA level that most scouts thought. You might think that that improvement would make Herro even more off-limits from the Heat’s perspective. Yet if Herro’s value rises high enough, the Heat might be starting to consider flipping him for a win-now player to plug in next to star Jimmy Butler.
The Washington Wizards’ Bradley Beal, the Indiana Pacers’ Victor Oladipo, and the Utah Jazz’s Donovan Mitchell would also represent huge upgrades to the Heat’s roster. If such a trade were to occur, Herro would undoubtedly be better off for having chosen to rent instead of buy during his time in Miami.
All stats courtesy of Basketball Reference