Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Miramar | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $289,951 | $293,727 | $242,182 |
| Price Trend (Annual %) | 6.2% | 12.0% | 8.2% |
| Median Gross Rent | $1,935 | $1,564 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Miramar is about 1% lower than in Florida. Rent is about 24% higher than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Miramar, up about 6.2% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Miramar rose about 33.1% between 2015 and 2023, from $1,454 to $1,935. Over the same span, rent in Florida rose about 56.0%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Miramar.
Buying the median-priced home in Miramar costs roughly 12.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Miramar. The price-to-rent ratio in Florida is about 15.7.
| Metric | Miramar | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $289,951 | $293,727 | $242,182 |
| Median Household Income | $89,544 | $71,865 | $78,145 |
| Price-to-Income Ratio | 3.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Miramar rose about 31.4%, while median household income rose about 36.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Miramar | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.9% | 57.1% | 58.2% |
| Rental Rate | 29.5% | 27.7% | 31.3% |
| Vacancy Rate | 3.7% | 15.2% | 10.6% |
| Median Tenure (years) | 14.0 | 13.0 | 15.0 |
| Median Year Moved In | 2012 | 2013 | 2011 |
Miramar has a homeownership rate of 66.9%, higher than the Florida average of 57.1%. Its housing vacancy rate is 3.7%, compared with 15.2% in Florida.
Housing Stock
| Metric | Miramar | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.05 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1992 | 1987 | 1978 |
| Median Number of Rooms | 5.3 | 5.2 | 5.5 |
The typical housing unit in Miramar was built around 1992. On average, 3.1 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Miramar, Florida.
What is the median home price in Miramar, Florida?
The median home price in Miramar, Florida is $289,951, lower than the Florida average of $293,727.
What is the average home price in Miramar, Florida?
The typical home price in %s, reported as the median sale price, is %s. 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 Miramar, Florida?
The median gross rent in Miramar, Florida is $1,935 per month, higher than the Florida average of $1,564.
What was the median gross rent in Miramar in 2020?
In 2020, the median gross rent in Miramar, Florida was $1,477 per month.
What is the price-to-rent ratio in Miramar, Florida?
The price-to-rent ratio in Miramar, Florida is about 12.5, meaning it would take roughly 12.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Miramar.
Are home prices or rent rising faster in Miramar, Florida?
Both home prices and rent are rising in Miramar, up about 6.2% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Miramar, Florida?
66.9% of households in Miramar, Florida own their home, higher than the Florida average of 57.1%.
What is the vacancy rate in Miramar, Florida?
The housing vacancy rate in Miramar, Florida is 3.7%, lower than the Florida average of 15.2%.