Market Overview
Home Prices in Miami, FL
The median home value in Miami, FL is $582,621 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.7% compared to a year ago and down 0.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Miami are priced42% above average. Miami is part of the Miami-Fort Lauderdale-Pompano Beach, FL metro area.
Over the past five years, Miami home values have risen by approximately43.4%, reflecting strong long-term appreciation in this market.
Price History
Miami Home Price Trend
City Comparison
Miami vs. National Median
At $582,621, homes in Miami cost 42% above the national median of $410,000. Buyers in Miami should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Miami?
20% Down Payment
$116,524
on $582,621
Monthly P&I
$3,039/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,860/mo
incl. taxes & insurance
Income Needed
$154,400
gross annual (30% rule)
10% Down Option
$58,262
+ PMI applies
Loan Amount (20% dn)
$466,097
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Miami, FL?
The median home value in Miami is $582,621 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.7% year-over-year.
How much have home prices changed in Miami?
Over the past year, home values in Miami have decreased by 0.7%. Over five years, prices have risen approximately 43.4%.
How much do I need to earn to buy a home in Miami?
To comfortably afford the median home price of $582,621 with a 20% down payment ($116,524) at today's rates (6.8%), you'd need a gross annual income of approximately $154,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Miami compare to the national average home price?
The national median home value is approximately $410,000. At $582,621, homes in Miami are 42% above the national average.
What metro area is Miami part of?
Miami is part of the Miami-Fort Lauderdale-Pompano Beach, FL metropolitan area. Home prices and market conditions can vary across the broader metro region.