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Miami

Learn about the people, housing, costs and businesses in Miami, Florida

Median Home$537,133
Median Rent$1,870/month
Population458,055
Leading IndustriesHealthcare · Arts, Food & Hospitality · Professional Services13% healthcare
Home Value Growth⬆⬆⬆+29.6% over 2 years
Young Adults36% of residentstop 5% nationally
Renters69% of occupied units
NotableAmenity Score86/100 · highly walkable area
NotableTransit83/100 · excellent transit access
Miami
FL

Frequently Asked Questions

What are today's mortgage rates in Miami?

Mortgage rates for Miami are updated daily on Safe Rate using live investor pricing. Rates depend on your credit score, loan type (Conventional, FHA, VA, Jumbo), and down payment. A 30-year fixed rate is the most common product for home purchases.

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What is the median home price in Miami?

The median home value in Miami is $537k. The median monthly rent is $1,870. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Miami?

Home values in Miami have increased 29.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Miami?

Based on a typical all-in ownership cost of $1,911/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $82k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Miami is $73k/year.

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What industries drive the economy in Miami?

The largest employment sectors in Miami are public administration (23%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.