Miami, FL housing market report

1-year price change

+1.0%

FHFA HPI

5-year price change

+64.1%

FHFA HPI

Median home value

$443,300

Census ACS

Median household income

$76,527

Census ACS

Median gross rent

$1,869/mo

Census ACS

Owner-occupied households

60.5%

Census ACS

Metro population

6,249,291

Census ACS

30-yr mortgage rate (national)

6.43%

Freddie Mac / FRED

Q2 2021 Q1 2026

Home prices in Miami are up 1.0% over the past year and up 64.1% over the past five years, per the FHFA House Price Index through Q1 2026. The metro's median home value is $443,300 against a median household income of $76,527 (Census ACS 2020-2024). 60.5% of households own their homes, and the median gross rent is $1,869 per month.

If you're buying in Miami

• FHFA's price index for the metro is up 1.0% year over year, so recent sale prices have on average come in above year-ago levels.
• At the current national average 30-year rate of 6.43%, buying at the metro's median value ($443,300) with 20% down works out to roughly $2,225 per month in principal and interest, before taxes and insurance.
• The median home value here is about 5.8x the median household income.

If you're selling in Miami

• Prices are up 1.0% over the past year and up 64.1% over five years, per the FHFA index for the metro.
• The metro's median gross rent is $1,869 per month - one reference point if you are weighing a sale against renting the home out.
• 60.5% of households in the metro own their homes.