Home Values

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

$272,300

  • 10.6% 1-year change
  • 2.1% 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 $272,300. Miami home values have gone up 10.6% over the past year and Zillow predicts they will rise 2.1% within the next year. The median list price per square foot in Miami is $379, which is higher than the Miami-Fort Lauderdale Metro average of $159. The median price of homes currently listed in Miami is $388,350 while the median price of homes that sold is $323,500. The median rent price in Miami 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 is 18.4%, which is higher than the national value of 6.9%. 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 24.0%, which is higher than Miami-Fort Lauderdale Metro at 21.9%.

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Relative ZHVI
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Miami Market Overview

Data through Aug 31, 2014
  • $272,300 ZHVI
  • 2.1% 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
    (Aug 31, 2015)
  • $388,350 Median listing price
  • $323,500 Median sale price
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Miami Market Health

Data through Aug 31, 2014
  • 1.1/10 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
  • 24.0% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 18.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Neighborhoods in Miami

Name Median ZHVI
Downtown Miami $410,600
Brickell $408,800
Wynwood - Edgewater $320,000
Name Median ZHVI
Shenandoah $309,100
Coral Way $295,100
Alameda - West Flagler $205,100
Name Median ZHVI
Overtown $142,400
Little Havana $117,200
Allapattah $89,100

Listings & Sales

Data through Aug 31, 2014
  • $379 Median list price / sq ft
  • $299 Median sale price / sq ft
  • 26.6% Listings with price cut
17.9%
Sold below listing
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Miami Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,978 Miami
    $1,769 Miami-Fort Lauderdale Metro
    $1,328 United States

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

  • 1.6 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
  • $2.28 Rent list price / sq ft
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