Median real estate price in the City Center of South Miami is $393,947, which is more expensive than 86.4% of the neighborhoods in Florida and 81.6% of the neighborhoods in the U.S.
The average rental price in South Miami City Center is currently $1,981, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 91.4% of the neighborhoods in Florida.
South Miami City Center is an urban neighborhood (based on population density) located in South Miami, Florida.
Real estate in the City Center of South Miami, FL is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is renter occupied. Many of the residences in the City Center neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in South Miami City Center. The current real estate vacancy rate here is 25.0%. This is higher than the rate of vacancies in 90.9% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.