Miami today
What this means
Home values here climbed 2.3% in a year.
Permits January to September 2026: 4,434 homes, 22% fewer than 2025.
Rents are area estimates; check comps for the exact house. Sources and method: how these figures are built.
Go deeper: Dane's detailed guides for this area: Buying a Home in Miami.
Quick facts
| Miami | vs Miami-Dade County | vs Florida | |
|---|---|---|---|
| Population | 489,812 (2025 estimate) | ||
| Growth since 2020 | 10.8% | +7.1 pts | +1.9 pts |
| Median home value | $518,100 | 12% higher | 44% higher |
| Median gross rent | $1,758 | 4% lower | 5% higher |
| Median household income | $62,462 | 13% lower | 16% lower |
| Owner occupied homes | 30.8% | -21.4 pts | -36.8 pts |
| Residents 65 and older | 15.9% | -1.0 pts | -5.4 pts |
| Average commute (minutes) | 27 | 12% lower | 2% lower |
| Homes built 2010 or later | 19.2% | +7.8 pts | +5.0 pts |
| Median property tax paid | $4,586 | 22% higher | 68% higher |
Census survey figures are 2020 to 2024 averages; methods.
Living in Miami
Miami Dade County seat on Biscayne Bay, incorporated in 1896 after the railroad arrived.
Miami is a city with its own government, located in Miami-Dade County.
Known for: PortMiami; Vizcaya Museum and Gardens; Wynwood; Adrienne Arsht Center
High rise building in Downtown, Brickell and Edgewater drove growth in the 2000s and 2010s.
Next to the rest of Miami-Dade County, fewer homes are owner occupied (30.8% vs 52.2%); more of the housing is in apartment and condo buildings (60.8% vs 44.7%); households are smaller (2.32 vs 2.76 people) and it grew faster than the county since 2020 (10.8% vs 3.7%).
If you like the numbers here, also look at The Acreage ($524,800, $1,710), Westchester ($508,700, $1,819), Bonita Springs ($497,100, $1,882).
Growth and housing
Population went from 442,236 in 2020 to 489,812 in 2025 (10.8%), versus 3.7% for Miami-Dade County.
| 2025 building permits | Miami |
|---|---|
| Single family | 152 |
| 5 or more units | 6,863 |
| Total units | 7,219 |
| Per 1,000 residents | 14.7 |
Median year built: 1979. This is a multifamily heavy market (60.8% in buildings of 5+ units). Average household size is 2.32.
Each year about 2.3% of residents arrive from other states.
Risks to price in
| Risk item | Detail |
|---|---|
| County average homeowners insurance with wind | $5,975 a year |
| Hurricanes tied to Miami-Dade County since 2000 | Katrina (2005) |
| Coastal county | check flood zone and elevation per address |
Older homes (50.8% built before 1980) draw insurer questions about roofs and wiring. Inspections
Before buying in one of the larger buildings (48.8% of housing), check reserves, minutes and insurance. Condo financing
Flood, storms and jobs
Miami has its own flood program rating: CRS class 6, which takes 20% off federal flood premiums in high risk zones. Insured homes in the city filed 3,679 flood claims since 2000, with $84,190,746 paid. The Miami-Dade County guide covers storms, flood claims and employers; 40.5% of county homes are in high risk flood zones.
Buying a home in Miami
| 2026 loan limits (county) | Amount |
|---|---|
| FHA, one unit | $667,000 |
| Conforming, one unit | $832,750 |
| Median home value here | $518,100 |
Price to income: 8.3x, compared with 6.5x for the county.
- Conventional: mortgage insurance drops off as equity builds.
- FHA: $148,900 of room between the median home and the FHA limit.
Investing in Miami
Long term rentals
| Miami | vs Miami-Dade County | |
|---|---|---|
| Renter occupied homes | 69.2% | +21.4 pts |
| Rental vacancy | 6.5% | +1.0 pts |
| Rent as share of renter income | 37% | -1.2 pts |
Short term rentals
4.2% of homes are held for seasonal or vacation use (Miami-Dade County 4.6%).
| Short term rental taxes | Rate |
|---|---|
| County tourist development tax | 6% |
| State sales tax | 6% plus any county surtax |
Rules vary street by street; verify zoning and HOA limits early. State rules
Property types
| Housing stock | Share |
|---|---|
| Single family detached | 22.4% |
| Buildings with 5+ units | 60.8% |
| Manufactured homes | 0.5% |
Nearby
Other Florida markets
Sources
- U.S. Census Bureau, American Community Survey 2020 to 2024 5 year estimates. 2020 to 2024.
- U.S. Census Bureau, Population Estimates, Vintage 2025. July 1, 2025.
- U.S. Census Bureau, Building Permits Survey, 2025 annual. 2025.
- FFIEC HMDA Data Browser, originated loans. 2025 and 2024.
- LendingTree: 2026 FHA loan limits in Florida by county (HUD figures). 2026.
- Florida Realtors: FHFA sets 2026 conforming loan limits. 2026.
- Florida Office of Economic and Demographic Research: 2026 local option tourist tax rates. 2026.
- Florida Office of Insurance Regulation, July 2026 Insurance Stability Unit report (average homeowners premium with wind, as of March 31, 2026). March 31, 2026.
- Freddie Mac Primary Mortgage Market Survey. week of October 22, 2026.
- Wikipedia: List of counties in Florida. checked October 2026.
- U.S. Census Bureau county adjacency file. 2024.
- Wikipedia county article and statewide lists (colleges, teams, airports); Florida Defense Support Task Force installation map. checked October 2026.
- Wikipedia article for this place (history, setting, roads). checked October 2026.
- Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted. September 2026.
- Federal Housing Finance Agency House Price Index (county annual, metro and state quarterly, all transactions). through Q2 2026.
- U.S. Census Bureau, Building Permits Survey, January to September 2026 and 2025. September 2026.
- FEMA OpenFEMA, NFIP Residential Penetration Rates. as of August 2026.
- FEMA OpenFEMA, FIMA NFIP Redacted Claims (2000 to 2026). as of September 2026.
- FEMA OpenFEMA, NFIP Community Status Book (Community Rating System class). August 2026.
- FEMA OpenFEMA, Disaster Declarations Summaries (2000 to 2026). October 2026.
- U.S. Census Bureau, County Business Patterns 2023. 2023.
- U.S. Census Bureau, ACS 2020 to 2024, median gross rent by bedrooms (B25031). 2020 to 2024.
- Hurricane landfalls: Wikipedia, List of Florida hurricanes (2000 to present). checked October 2026.
Estimates from public data; they change over time. General information, not investment, tax or legal advice, and not a loan offer. Methods and assumptions.