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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 113,187, 31,003 total housing units (homes and apartments), and a median house value of $187,945, Miami Gardens real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Miami Gardens, accounting for 66.88% of the city's housing units. Other types of housing that are prevalent in Miami Gardens include large apartment complexes or high rise apartments ( 23.84%), row houses and other attached homes ( 4.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.12%).
The most prevalent building size and type in Miami Gardens are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.27% owning and 35.73% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Miami Gardens's housing was primarily built during this period, from the '40s through the '60s. A full 56.58% of the city's housing hails from this era. Other housing ages represented in Miami Gardens include homes built between 1970-1999 ( 34.20%) and housing constructed between 2000 and later ( 8.91%).
Vacant housing appears to be an issue in Miami Gardens. Fully 10.32% of the housing stock is classified as vacant. Left unchecked, vacant Miami Gardens homes and apartments can be a drag on the real estate market, holding Miami Gardens 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.
Homes have actually lost value in Miami Gardens over the last then years, as home values have seen a decline of 20.00% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Miami Gardens home appreciation rates at 1.80%, which equates to an annual appreciation rate of 7.39%.
Appreciation rates are so strong in Miami Gardens that despite a nationwide downturn in the housing market, Miami Gardens real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Miami Gardens appreciation rates continue to be some of the highest in America, at 11.88%, which is higher than appreciation rates in 97.30% 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 Gardens. Miami Gardens appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.39%.
Importantly, this makes Miami Gardens one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Florida, our data show that Miami Gardens's latest annual appreciation rate is higher than 80% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Miami Gardens differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Miami Gardens - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Miami Gardens real estate investment or home purchase decisions.
|$1,082,001 - $1,442,000||0.2|
|$722,001 - $1,082,000||0.2|
|$577,001 - $722,000||0.2|
|$433,001 - $577,000||2.4|
|$289,001 - $433,000||14.9|
|$144,001 - $289,000||48.9|
|$73,001 - $144,000||24.7|
|$0 - $73,000||8.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Miami Gardens HOMES|
|2000 or Newer||8.9|
|1970 - 1999||34.2|
|1940 - 1969||56.6|
|1939 or Older||0.3|
|TYPE OF Miami Gardens HOMES|
|Small Apt. Buildings||3.1|
|SIZE OF Miami Gardens HOMES|
|5 or more bedrooms||2.46|