The housing market in South Miami, FL is thriving! The median value of a home in South Miami, FL is significantly higher than the US median value ($742,900 vs. $338,100). Furthermore, the 1 year house appreciation rate in South Miami, FL has been much greater than the national average at 22.93%, compared to 8.27%. This shows that South Miami is a great place to invest in real estate given its high home values and strong appreciation rates.
The median home cost in South Miami is $742,900. Home appreciation the last 10 years has been 179.0%. Home Appreciation in South Miami is up 25.1%.
Average Age of Homes
- The median age of South Miami real estate is 53 years old
The Rental Market in South Miami
- Renters make up 32.3% of the South Miami population
- 2.9% of houses and apartments in South 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.