Miami, FL


Highest Appreciating Miami Neighborhoods Since 2000

Miami, FL Real Estate Data

Miami Housing Market Information

With 441,003 people, 152,525 houses or apartments, and a median cost of homes of $330,688, real estate costs in Miami are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Florida communities.

Large apartment complexes or high rise apartments are the single most common housing type in Miami, accounting for 54.05% of the city's housing units. Other types of housing that are prevalent in Miami include single-family detached homes ( 25.50%), duplexes, homes converted to apartments or other small apartment buildings ( 10.17%), and a few row houses and other attached homes ( 9.73%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Miami is dominated by renter-occupied one, two, or no bedrooms apartments. 69.09% of Miami's dwellings are rentals.

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's housing was primarily built during this period, from the '40s through the '60s. A full 42.32% of the city's housing hails from this era. Other housing ages represented in Miami include homes built between 1970-1999 ( 26.02%) and housing constructed between 2000 and later ( 21.16%). There's also some housing in Miami built before 1939 ( 10.50%).

Vacant housing appears to be an issue in Miami. Fully 19.15% 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

Miami's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Miami during the period has been just -0.78%, which is lower than 70% of US communities.

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 9.87%, which is higher than appreciation rates in 97.61% 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 2.59%, which equates to an annual appreciation rate of 10.76%.

Relative to Florida, our data show that Miami's latest annual appreciation rate is higher than 60% 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 differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Miami - 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 real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,553,000 2.4
$1,165,001 - $1,553,000 1.4
$777,001 - $1,165,000 3.9
$621,001 - $777,000 3.9
$466,001 - $621,000 9.8
$311,001 - $466,000 22.4
$155,001 - $311,000 32.3
$78,001 - $155,000 17.7
$0 - $78,000 6.2

High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
14.1008373836154 25.0

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$1,424 / per month

Homeownership Rate

Owners 30.91
Renters 69.09
Vacant 19.15

Housing Market Details


Age of Homes

2000 or Newer 21.2
1970 - 1999 26.0
1940 - 1969 42.3
1939 or Older 10.5

Types of Homes

Single-Family 25.5
Townhomes 9.7
Small Apt. Buildings 10.2
Apt. Complexes 54.0
Mobile Homes 0.5
Other 0.1

Home Size

No Bedroom 6.34
1 Bedroom 32.25
2 Bedrooms 37.98
3 Bedrooms 17.94
4 Bedrooms 4.36
5 or more bedrooms 1.12

Miami Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
131.25% 5.05% 10 10
* 10 is highest