Miami
Florida · Ranked #367 of 373 metros
16Crisis
💡
Housing in Miami costs 6.21× the median income, above the national average of 4.5×. The median home price is $474K and median rent is $1,914/month. Miami ranks #367 of 373 metros for affordability.
Median Home Price
🏠$474K
Need $166K income
Median Rent
🔑$1,914
Need $88K income
Housing Shortage
📉180,000
units needed
Building Permits
🔨28,000
annual
Median Income
💰$76K
Pop: 6,138,333
Rent Burden
⚠️45.0%
of renters paying >30%
Price Change (YoY)
📈+6.8%
Homeownership
🏡62.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Miami | National |
|---|---|---|
| Price-to-Income Ratio | 6.21x | 6.1x |
| Rent Burden | 45.0% | 31.5% |
| Homeownership Rate | 62.0% | 65.5% |
| YoY Price Change | +6.8% | +3.5% |
| YoY Rent Change | +5.5% | +2.8% |
| Mortgage Denial Rate | 20.5% | 13.5% |
| Eviction Rate | 4.5% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +91.4%Since 2000: +413.5%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,828/mo
1 Bedroom$1,995/mo
2 Bedroom$2,436/mo
3 Bedroom$3,127/mo
4 Bedroom$3,613/mo
Zillow Market Data
Home Value (ZHVI)
$470K
1yr: -4.4%5yr: +41.9%
Rent (ZORI)
$2,654/mo
1yr: +0.5%5yr: +45.9%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$680K
Active Inventory
5,247
Days on Market
76
Sold Above List
10.0%
Price Drops
21.5%