Miami 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

$286,600

  • 6.5% 1-year change
  • -0.5% 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

Cool
Buyers' Market
Sellers' Market

The median home value in Miami is $286,600. Miami home values have gone up 6.5% over the past year and Zillow predicts they will fall -0.5% within the next year. The median rent price in Miami is $2,450, which is higher than the Miami-Fort Lauderdale Metro median of $2,000.

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 is 12.6%, which is higher than the national value of 6.0%. 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 homeowners underwater on their mortgage is 20.4%, which is higher than Miami-Fort Lauderdale Metro at 17.4%.

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Relative ZHVI
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Miami Market Overview

Data through Jul 31, 2015
  • $286,600 ZHVI
  • -0.5% 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
    (Jul 31, 2016)
  • No data Median listing price
  • $352,265 Median sale price
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Miami Market Health

Data through Jul 31, 2015
  • 1.6/10 Less healthy
    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
  • 20.4% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 12.6% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)
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Neighborhoods in Miami

Name Median ZHVI
Downtown Miami $408,700
Brickell $406,900
Wynwood - Edgewater $319,000
Name Median ZHVI
Shenandoah $303,700
Coral Way $294,200
Alameda - West Flagler $196,200
Name Median ZHVI
Overtown $141,100
Little Havana $120,900
Allapattah $91,800

Listings & Sales

Data through Jul 31, 2015
  • No recent data Median list price / sq ft
  • $325 Median sale price / sq ft
  • No data Listings with price cut
11.0%
Sold below previous sale price
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Miami Rentals

Data through Jul 31, 2015
  • Zillow Rent Index

  • $2,108 Miami
    $1,815 Miami-Fort Lauderdale Metro
    $1,376 United States

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

  • 3.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • $2,450 Rent list price
  • $2.48 Rent list price / sq ft
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