Home Values

Miami Beach Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$379,700

  • 10.1% 1-year change
  • 1.3% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Miami Beach is $379,700. Miami Beach home values have gone up 10.1% over the past year and Zillow predicts they will rise 1.3% within the next year. The median list price per square foot in Miami Beach is $500, which is higher than the Miami-Fort Lauderdale Metro average of $165. The median price of homes currently listed in Miami Beach is $475,000 while the median price of homes that sold is $362,950. The median rent price in Miami Beach is $2,200, which is higher than the Miami-Fort Lauderdale Metro median of $1,800.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Miami Beach is 11.6%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Miami Beach homeowners underwater on their mortgage is 14.5%, which is lower than Miami-Fort Lauderdale Metro at 20.1%.

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Relative ZHVI
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Miami Beach Market Overview

Data through Dec 31, 2014
  • $379,700 ZHVI
  • 1.3% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $475,000 Median listing price
  • $362,950 Median sale price
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Miami Beach Market Health

Data through Dec 31, 2014
  • 4.7/10 Stable
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 14.5% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 11.6% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)
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Neighborhoods in Miami Beach

Name Median ZHVI
La Gorce $1,652,100
Nautilus $749,100
Belle Isle $631,300
Name Median ZHVI
Bayshore $546,000
Oceanfront $408,100
City Center $292,400
Name Median ZHVI
Flamingo Lummus $277,200
North Shore $244,100
Isle of Normandy $212,300

Listings & Sales

Data through Dec 31, 2014
  • $500 Median list price / sq ft
  • $408 Median sale price / sq ft
  • 11.0% Listings with price cut
12.0%
Sold below listing
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Miami Beach Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $2,262 Miami Beach
    $1,777 Miami-Fort Lauderdale Metro
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.3 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $2,200 Rent list price
  • $2.70 Rent list price / sq ft
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