Miami-Dade County, Florida Housing Market Prices
Miami-Dade County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 74% above the Florida median Among the 5 most expensive counties in Florida$541,108
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Median rent 10% above the Florida median More expensive than 92% of counties in Florida$1,828
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Miami-Dade County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $541,108 | $311,338 | $248,835 |
| Price Trend (Annual %) | 13.4% | 11.2% | 7.5% |
| Median Gross Rent | $1,828 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 6.1% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Miami-Dade County is about 74% higher than in Florida. Rent is about 10% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Miami-Dade County, up about 13.4% and 6.1% a year respectively. Home prices are changing faster.
Median rent in Miami-Dade County rose about 64.4% between 2015 and 2024, from $1,112 to $1,828. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 7.5 yearly household incomes in Miami-Dade County.
Buying the median-priced home in Miami-Dade County costs roughly 24.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Miami-Dade County. The price-to-rent ratio in Florida is about 15.6.
| Metric | Miami-Dade County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $541,108 | $311,338 | $248,835 |
| Median Household Income | $71,937 | $74,580 | $80,455 |
| Price-to-Income Ratio | 7.5 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Miami-Dade County rose about 213.1%, while median household income rose about 60.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Miami-Dade County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.5% | 57.7% | 58.5% |
| Rental Rate | 42.6% | 27.7% | 31.2% |
| Vacancy Rate | 10.9% | 14.6% | 10.2% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Miami-Dade County has a homeownership rate of 46.5%, lower than the Florida average of 57.7%. Its housing vacancy rate is 10.9%, compared with 14.6% in Florida.
Housing Stock
| Metric | Miami-Dade County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1980 | 1988 | 1978 |
| Median Number of Rooms | 4.4 | 5.2 | 5.5 |
The typical housing unit in Miami-Dade County was built around 1980. On average, 2.8 people live in a home with about 4.4 rooms, staying for about 14.0 years on average.
Miami-Dade County, FL Housing Compared With Nearby Counties
Miami-Dade County, FL is the largest of the 6 counties compared here, 2,733,460 residents against a local median of 398,267. Miami-Dade County, FL's median home price, at $541,108, runs 39% above the $390,107 typical of the counties around it.
Homeownership tells the same story from another angle: 52.2% against a local median of 70.1%, 25% below it. The one measure here that carries a verdict is homeownership, and at 25% below the local median it puts Miami-Dade County, FL at the weaker end of the local range. The counties themselves spread $509,670 on median home price, so Miami-Dade County, FL sits at one end of an already wide local range rather than apart from it. Miami-Dade County, FL has the 2nd highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Miami-Dade County, FL | 2,733,460 | $541,108 #2/6 | $1,828 #5/6 | 52.2% #6/6 |
| Broward County, FL | 1,975,984 | $374,033 | $1,906 | 63.6% |
| Monroe County, FL | 81,860 | $721,153 | $1,998 | 65.8% |
| Palm Beach County, FL | 1,530,264 | $390,107 | $1,916 | 70.1% |
| Collier County, FL | 398,267 | $487,922 | $1,862 | 76.6% |
| Hendry County, FL | 42,373 | $211,483 | $1,003 | 73.6% |
Frequently Asked Questions
Common questions about the housing market in Miami-Dade County, Florida.
What is the median home price in Miami-Dade County, Florida?
The median home price in Miami-Dade County, Florida is $541,108, higher than the Florida average of $311,338.
What is the average home price in Miami-Dade County, Florida?
The typical home price in Miami-Dade County, Florida, reported as the median sale price, is $541,108. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Miami-Dade County, Florida?
The median gross rent in Miami-Dade County, Florida is $1,828 per month, higher than the Florida average of $1,668.
What was the median gross rent in Miami-Dade County in 2020?
In 2020, the median gross rent in Miami-Dade County, Florida was $1,372 per month.
What is the price-to-rent ratio in Miami-Dade County, Florida?
The price-to-rent ratio in Miami-Dade County, Florida is about 24.7, meaning it would take roughly 24.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Miami-Dade County.
Are home prices or rent rising faster in Miami-Dade County, Florida?
Both home prices and rent are rising in Miami-Dade County, up about 13.4% and 6.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Miami-Dade County, Florida?
46.5% of households in Miami-Dade County, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Miami-Dade County, Florida?
The housing vacancy rate in Miami-Dade County, Florida is 10.9%, lower than the Florida average of 14.6%.
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