The Miami-Fort Lauderdale-West Palm Beach, FL Metro Area has seen significant growth in housing values over the past year. The median value of a home in the area is $437,700, which is significantly higher than the US median value of $338,100. This is likely due to the large appreciation rate experienced in this area over the past year, which was 20.37%, compared to 8.27% throughout the US. This dynamic market indicates that buying property in this region can be an excellent investment with high returns potential.
The median home cost in Miami-Fort Lauderdale-Pompano Beach Metro Area is $437,700. Home appreciation the last 10 years has been 186.4%. Home Appreciation in Miami-Fort Lauderdale-Pompano Beach Metro Area is up 26.5%.
Average Age of Homes
- The median age of Miami-Fort Lauderdale-Pompano Beach Metro Area real estate is 37 years old
The Rental Market in Miami-Fort Lauderdale-Pompano Beach Metro Area
- Renters make up 31.1% of the Miami-Fort Lauderdale-Pompano Beach Metro Area population
- 2.3% of houses and apartments in Miami-Fort Lauderdale-Pompano Beach Metro Area, 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.