Miami Beach, FL offers some of the most desirable housing in the U.S., with a median value of $482,600 significantly higher than the national average of $338,100. This discrepancy is partially due to the 1 year house appreciation rate being much higher in Miami Beach at 22.93%, almost three times higher than the US-wide rate of 8.27%. This is great news for homeowners looking to move into this vibrant and popular area, as they can expect their property to increase in value at an accelerated rate compared to other parts of the country.
The median home cost in Miami Beach is $482,600. Home appreciation the last 10 years has been 179.0%. Home Appreciation in Miami Beach is up 25.1%.
Average Age of Homes
- The median age of Miami Beach real estate is 50 years old
The Rental Market in Miami Beach
- Renters make up 40.9% of the Miami Beach population
- 2.5% of houses and apartments in Miami Beach, 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.