Miami Housing Market: Home Prices & Rent
Miami home values since 2000
Last few years
Rent in Miami
Owning vs renting, monthly
Buying the typical Miami home with 20% down at this week's 7.32% 30-year rate costs about $3,216/month (principal, interest plus ~1.5% a year for tax and insurance) vs $2,654/month typical rent.
Rate: Freddie Mac, week of Oct 22, 2026. Estimate for comparison only.
Miami vs Florida vs the U.S.
| Typical home | 12-month change | Typical rent | |
|---|---|---|---|
| This metro | $477k | +0.3% | $2,654/mo |
| Florida | $375k | -0.9% | - |
| United States | $366k | +1.2% | $1,932/mo |
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Common questions
Are home prices falling in Miami?
No - the typical Miami-area home value is up 0.3% over the past 12 months, at $477k (September 2026). Values are 4% below their September 2024 peak of $499k.
Is the Miami housing market crashing?
Home values are 4% below their September 2024 peak and up 0.3% over the past year - a rising market, not a sudden collapse. Whether that continues isn't knowable from the data - this page updates every month when new figures come out.
How much is rent in Miami?
Typical rent in the Miami metro is $2,654 a month (September 2026), +1.8% over 12 months.
How much income do you need to buy a home in Miami?
About $144k a year to afford the typical home with 20% down, spending no more than 30% of income on housing (September 2026).
Nearby and similar metros
Tampa, FL · Orlando, FL · Jacksonville, FL · North Port, FL · Cape Coral, FL · Lakeland, FL · Worcester, MA · Boise, ID · Modesto, CA · Nashville, TN
Sources: Data Provided by Zillow Group (Zillow Home Value Index and Zillow Observed Rent Index, September 2026; income needed and listing data). 30-year mortgage rate: Freddie Mac PMMS. Figures are for the Miami, FL metro area. How we calculate.