Miami, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Miami Neighborhoods Since 2000




Miami, AZ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Miami Housing Market Information

With 1,783 people, 793 houses or apartments, and a median cost of homes of $66,461, house prices in Miami are some of the most affordable in Arizona as well as the nation.

Single-family detached homes are the single most common housing type in Miami, accounting for 77.02% of the town's housing units. Other types of housing that are prevalent in Miami include mobile homes or trailers ( 9.41%), large apartment complexes or high rise apartments ( 7.29%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.28%).

Dwellings in Miami tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.33% of the homes in Miami have two or fewer bedrooms.

The housing in Miami was primarily built before 1939 ( 49.39%), making the housing stock in Miami some of the oldest overall in America, although there is a range of ages of homes in Miami. The next most important housing age is between 1940-1969 ( 29.86%), followed by between 1970-1999 ( 14.17%). There's also some housing in Miami built between 2000 and later ( 6.58%).

Vacant housing appears to be an issue in Miami. Fully 19.74% of the housing stock is classified as vacant. Left unchecked, vacant Miami homes and apartments can be a drag on the real estate market, holding Miami real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Miami Home Appreciation Rates

Homes have actually lost value in Miami over the last then years, as home values have seen a decline of 22.17% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Miami home appreciation rates at 1.55%, which equates to an annual appreciation rate of 6.33%.

Appreciation rates are so strong in Miami that despite a nationwide downturn in the housing market, Miami real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Miami appreciation rates continue to be some of the highest in America, at 7.18%, which is higher than appreciation rates in 82.35% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Miami. Miami appreciation rates in the latest quarter were at 1.55%, which equates to an annual appreciation rate of 6.33%.

Relative to Arizona, our data show that Miami's latest annual appreciation rate is lower than 50% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$66,461

Miami, AZ HOME PRICES

Value Range
> $1,148,000 0.0
$861,001 - $1,148,000 0.0
$574,001 - $861,000 0.5
$459,001 - $574,000 0.6
$344,001 - $459,000 3.3
$229,001 - $344,000 5.5
$115,001 - $229,000 21.1
$57,001 - $115,000 31.0
$0 - $57,000 38.1

Very Low for AZ
Very Low for Nation

Value Relative to Nation Value Relative to State
96.4080628149537 94.5945945945946

Number Of Homes And Apartments:
793

Miami Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
33.01% 1.67% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$869 / per month

Homeownership Rate

Homeownership
Owners 69.48
Renters 30.52
Vacant 19.74

Housing Market Details

 

Age of Homes

AGE OF Miami HOMES
2000 or Newer 6.6
1970 - 1999 14.2
1940 - 1969 29.9
1939 or Older 49.4

Types of Homes

TYPE OF Miami HOMES
Single-Family 77.0
Townhomes 0.0
Small Apt. Buildings 6.3
Apt. Complexes 7.3
Mobile Homes 9.4
Other 0.0

Home Size

SIZE OF Miami HOMES
No Bedroom 4.35
1 Bedroom 8.30
2 Bedrooms 39.68
3 Bedrooms 36.44
4 Bedrooms 9.11
5 or more bedrooms 2.13

Popular Neighborhoods in Miami

Zip Codes in Miami, AZ