The housing market in Miami, FL is booming with the median value at an astounding $524,600. This is substantially higher than the US House Median Value which stands at $338,100, showing a positive trend for real estate in the region. In addition to this, the appreciation of houses over the last year in Miami has been 22.93%, far surpassing the national average of 8.27%. This shows that investing in property is an attractive option for those looking to gain returns on their investment in this area.
The median home cost in Miami is $524,600. Home appreciation the last 10 years has been 179.0%. Home Appreciation in Miami is up 25.1%.
Average Age of Homes
- The median age of Miami real estate is 46 years old
The Rental Market in Miami
- Renters make up 55.3% of the Miami population
- 4.7% of houses and apartments in Miami, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.