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
$367,249
- 1.0% 1-year change
- 1.2% 1-year forecast
Market temperature
The market temperature is based on three metrics: the list-to-sale price ratio, the prevalence of price cuts on home listings, and time-on-market. It provides information on the current balance of bargaining power between buyers and sellers in this region relative to that balance historically, enabling buyers and sellers to see trends in their local housing market temperature. Learn more
The median home value in Miami is $367,249. Miami home values have gone up 1.0% over the past year and Zillow predicts they will rise 1.2% within the next year. The median list price per square foot in Miami is $420, which is higher than the Miami-Fort Lauderdale-West Palm Beach Metro average of $230. The median price of homes currently listed in Miami is $489,000 while the median price of homes that sold is $330,500. The median rent price in Miami is $2,400, which is higher than the Miami-Fort Lauderdale-West Palm Beach 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 1.2%, which is higher than the national value of 1.1%. 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 10.0%, which is higher than Miami-Fort Lauderdale-West Palm Beach Metro at 7.2%.
Read moreRelative ZHVI
- +Miami Market Overview
Data through Dec 31, 2019
-
$367,249
ZHVI
The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more
-
1.2%
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, 2020)
- $489,000 Median listing price
- No recent data Median sale price
Miami Market Health
Data through Nov 30, 2019
- 126 Average days on Zillow
- 10.0% Homes with negative equity (8.2% US Avg) (Jun 30, 2018)
- 1.2% Delinquent on mortgage (1.1% US Avg) (Jun 30, 2018)
Neighborhoods in Miami
| Name | Median ZHVI |
|---|---|
| North-East Coconut Grove | $637,800 |
| Shenandoah | $406,800 |
| Brickell | $375,800 |
| Name | Median ZHVI |
|---|---|
| Downtown Miami | $375,800 |
| Coral Way | $371,200 |
| Alameda - West Flagler | $278,200 |
| Name | Median ZHVI |
|---|---|
| Flagami | $253,000 |
| Little Havana | $152,100 |
| Allapattah | $148,400 |
Listings & Sales
Data through Dec 31, 2019
- $420 Median list price / sq ft
- No recent data Median sale price / sq ft
- 9.2% Listings with price cut
Miami Rentals
Data through Dec 31, 2019
Zillow Rent Index
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The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
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3.9
Breakeven horizon
The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more(Mar 31, 2018)
- $2,400 Rent list price
- $2.48 Rent list price / sq ft
