Miami, FL home prices
Typical home $476,815 · +0.3% in a year · income needed $134,000
The Miami, FL metro area ranks 85 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +0.3% in a year and +29.0% over five years. With 20% down at 7.11%, the typical home costs about $3,126 a month including 0.81% property tax (Miami-Dade County rate).
Mortgage on the typical Miami home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $95,363 | $381,452 | $2,566 | $0 | $560 | $3,126 | $134,000 |
| 10% down | $47,682 | $429,134 | $2,887 | $179 | $560 | $3,625 | $155,400 |
| 5% down | $23,841 | $452,975 | $3,047 | $189 | $560 | $3,796 | $162,700 |
| 3.5% down (FHA) | $16,689 | $468,179 | $3,149 | $211 | $560 | $3,920 | $168,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.81% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Miami area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Miami-Dade County, FL | $523,240 | +0.6% | 0.81% |
| Broward County, FL | $422,344 | -1.6% | 0.94% |
| Palm Beach County, FL | $475,754 | +2.3% | 0.86% |
What can you afford in Florida on your salary? · Florida home prices · Salaries in Florida
Frequently asked questions
How much is a house in Miami?
The typical home in the Miami, FL metro area is worth $476,815 (Zillow, September 2026).
What salary do you need to buy a house in Miami?
About $134,000 a year for the typical home with 20% down at 7.11%.