Housing market report · Florida

Miami, FL housing market report

Updated 2026-08-03

Median home value: $443,300
Median household income: $76,527
Median gross rent: $1,869/mo
Owner-occupied households: 60.5%
Metro population: 6,249,291
30-yr mortgage rate (national): 6.66%

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.

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If you're buying in Miami

At the current national average 30-year rate of 6.66%, buying at the metro's median value ($443,300) with 20% down works out to roughly $2,279 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

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.

Own a home in Miami?

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