What does it really cost to live in each part of Miami? We bring together on one page the typical value of a house and a condo, rent, flood insurance and property tax for 21 areas of Miami-Dade and Broward, using public data we update every month. Houses and condos are always kept separate, because mixing them tells you nothing: in the same area, a house can be worth three or four times as much as a condo.
Updated: October 2026. Values and rents as of September 2026; metro-area sales data as of August 2026.
How much does a house or condo cost in each area?
This table shows, for each area, the typical value of a single-family house and of a condo, how much it changed over the past year, and the typical rent. Data as of September 2026. Areas with their own guide are linked.
| Area | Typical house | 1-year change | Typical condo | 1-year change | Typical monthly rent |
|---|---|---|---|---|---|
| City of Miami | |||||
| Brickell | — | — | $598,000 | −1.2% | $3,829* |
| Downtown | — | — | $528,000 | −1.4% | $3,496* |
| Edgewater and Wynwood | $854,000 | +0.7% | $575,000 | +1.0% | $3,603* |
| Upper East Side | $1,443,000 | +10.0% | $470,000 | +2.1% | $2,391* |
| Coconut Grove | $2,011,000 | +12.8% | $1,060,000 | +9.9% | $3,646* |
| Little Havana | $605,000 | +1.9% | $277,000 | −2.1% | $2,067* |
| South and west Miami-Dade | |||||
| Coral Gables | $2,097,000 | +9.8% | $567,000 | +1.3% | $3,345 |
| Pinecrest | $2,492,000 | +7.5% | $287,000 | −4.3% | $3,353 |
| Palmetto Bay | $1,142,000 | +4.2% | $220,000 | −3.9% | $2,446 |
| Kendall | $835,000 | +4.2% | $257,000 | −5.4% | $2,266* |
| Doral | $682,000 | +0.3% | $389,000 | −3.3% | $2,881 |
| North Miami-Dade | |||||
| Hialeah | $565,000 | +1.2% | $245,000 | −4.4% | $2,343 |
| Miami Lakes | $733,000 | +2.1% | $303,000 | −2.2% | $2,522 |
| Aventura | $636,000 | −2.5% | $408,000 | −4.5% | $2,976 |
| Beaches and islands | |||||
| Sunny Isles Beach | $1,397,000 | +10.3% | $621,000 | +1.4% | $3,409 |
| Miami Beach | $2,457,000 | +7.8% | $460,000 | +1.7% | $2,750 |
| Surfside and Bal Harbour | $1,580,000 | +11.0% | $938,000 | +6.6% | $5,096 |
| Key Biscayne | $4,137,000 | +12.1% | $1,374,000 | +6.8% | $7,716 |
| Broward County | |||||
| Weston | $802,000 | −0.8% | $306,000 | −4.8% | $3,414 |
| Fort Lauderdale | $587,000 | +0.1% | $403,000 | −1.5% | $2,697 |
| Hollywood | $511,000 | −1.1% | $250,000 | −4.0% | $2,299 |
| Counties | |||||
| Miami-Dade County | $599,000 | +1.3% | $347,000 | −2.2% | $2,789 |
| Broward County | $535,000 | −0.8% | $204,000 | −5.4% | $2,457 |
Source: Zillow Research, Home Value Index (ZHVI, mid tier) and Observed Rent Index (ZORI), smoothed and seasonally adjusted. "—": few single-family houses in the area or not enough data. *Rent for the area's main ZIP code: 33131 in Brickell, 33132 in Downtown, 33137 in Edgewater, 33138 in Upper East Side, 33133 in Coconut Grove, 33135 in Little Havana and 33176 in Kendall. For Surfside and Bal Harbour, values are for Surfside.
Where are houses most expensive?
For houses, Key Biscayne is the most expensive of the areas we compare, with a typical value of $4,137,000, and Hollywood the most affordable, at $511,000: a 8-fold difference. For condos, the most expensive is Key Biscayne ($1,374,000) and the most affordable is Palmetto Bay ($220,000).
Are prices going up or down?
It depends on what you buy. Over the past year, the typical Miami-Dade house rose 1.3%, while the typical condo fell 2.2%. Houses in exclusive areas are still climbing strongly: Upper East Side, Coconut Grove, Coral Gables, Pinecrest, Sunny Isles Beach, Miami Beach, Surfside and Bal Harbour, Key Biscayne gained 5% or more. Condos, by contrast, fell in 13 of the 21 areas. It is a well-supplied market, where fees in many buildings have also risen since the 2022 condo safety law.
Source: Zillow Research. Miami-Fort Lauderdale-West Palm Beach metro area.
Across the metro area, the median sale price of a house was $582,723 in August 2026, +5.0% compared with the same month a year earlier.
Can you negotiate the price?
Yes, and more than a few years ago. These indicators for the Miami-Fort Lauderdale-West Palm Beach metro area show a market with more supply and buyers with more leverage:
| Indicator | Latest | A year earlier |
|---|---|---|
| Homes sold below list price | 77.0% | 80.1% |
| Sale price as a share of list price (median) | 96.6% | 96.3% |
| Days to pending (average) | 97 | 101 |
| Homes for sale | 47,227 | 55,077 |
Source: Zillow Research. Houses and condos combined. Sales: August 2026; days and inventory: September 2026.
In practice, offering below the asking price is normal, especially for condos and homes that have been on the market for a while. Before making an offer on a condo, review the fees, the reserve study and any planned special assessments: they explain much of the discounting.
How much does it cost to rent?
Typical rent is $2,789 a month in Miami-Dade and $2,457 in Broward. The most expensive areas to rent are Key Biscayne ($7,716) and Surfside and Bal Harbour ($5,096); the most affordable are Little Havana ($2,067) and Kendall ($2,266). If you have no U.S. credit history, read how to rent in Miami without a credit history.
Zillow's typical rent mixes houses and apartments of all sizes, based on listings. That is why it can differ from the Census median rent we use in our neighborhood guides, which includes older leases.
How much does flood insurance cost?
This is a figure almost nobody publishes: what homeowners actually pay for the federal flood insurance policy (NFIP), based on policies written between October 2025 and September 2026. It is the total annual cost of the policy, with surcharges and fees, for single-family houses.
| Area | Median annual policy cost | Policies analyzed | Policies in a high-risk zone |
|---|---|---|---|
| Key Biscayne | $4,629 | 922 | 100.0% |
| Surfside and Bal Harbour | $4,020 | 952 | 99.8% |
| Miami Beach | $3,737 | 3,319 | 99.8% |
| Sunny Isles Beach | $3,461 | 159 | 100.0% |
| Palmetto Bay | $2,514 | 3,520 | 86.8% |
| Pinecrest | $2,277 | 2,002 | 71.9% |
| Upper East Side | $1,639 | 727 | 94.9% |
| Coconut Grove | $1,489 | 865 | 39.8% |
| Coral Gables | $1,484 | 2,207 | 54.2% |
| Fort Lauderdale | $1,267 | 12,107 | 87.3% |
| Edgewater and Wynwood | $1,170 | 472 | 77.1% |
| Little Havana | $1,104 | 110 | 67.3% |
| Hollywood | $1,084 | 8,793 | 89.4% |
| Aventura | $1,034 | 600 | 99.2% |
| Kendall | $968 | 16,035 | 90.2% |
| Weston | $760 | 3,310 | 9.5% |
| Doral | $673 | 2,627 | 68.4% |
| Hialeah | $592 | 9,397 | 95.6% |
| Miami Lakes | $552 | 4,132 | 98.6% |
Source: OpenFEMA, redacted NFIP policies. Single-family houses, by ZIP code and community. We only show areas with at least 30 policies. It does not include private flood insurance or homeowners insurance, which is bought separately.
Two important caveats. First, the price depends mainly on the specific house: its elevation relative to flood level, its age and how close it is to the water. Second, the federal policy covers at most $250,000 of the building: expensive homes need additional private coverage. We explain it in our guide to home and flood insurance in Miami.
How much is property tax?
Property tax is calculated on the home's taxable value and depends on the municipality. These are the approximate total 2025 rates, adding up the county, schools, municipality and other authorities:
| Area | Total rate (mills) | Annual tax per $100,000 of taxable value |
|---|---|---|
| City of Miami (Brickell, Downtown, Edgewater, Coconut Grove, Little Havana) | 19.99 | $1,999 |
| Miami Beach | 18.76 | $1,876 |
| Hialeah | 18.60 | $1,860 |
| Coral Gables | 18.19 | $1,819 |
| Miami Lakes | 17.66 | $1,766 |
| Pinecrest | 17.53 | $1,753 |
| Palmetto Bay | 17.37 | $1,737 |
| Doral | 17.22 | $1,722 |
| Kendall | 16.93 | $1,693 |
| Aventura | 16.75 | $1,675 |
| Sunny Isles Beach | 16.72 | $1,672 |
| Weston | 16.30 | $1,630 |
| Key Biscayne | 15.51 | $1,551 |
If it is your primary residence, the homestead exemption takes up to $50,000 off the value and caps annual increases. A nonresident foreign buyer does not get it. We work through examples in the true cost of owning luxury property in Miami.
Which area fits my budget?
Based on typical values, these are the areas where a mid-range house fits each budget:
| Budget | Houses | Condos |
|---|---|---|
| Up to $650,000 | Hollywood, Hialeah, Fort Lauderdale, Little Havana, Aventura | Palmetto Bay, Hialeah, Hollywood, Kendall, Little Havana, Pinecrest, Miami Lakes, Weston, Doral, Fort Lauderdale, Aventura, Miami Beach, Upper East Side, Downtown, Coral Gables, Edgewater and Wynwood, Brickell, Sunny Isles Beach |
| $650,000 to $1 million | Doral, Miami Lakes, Weston, Kendall, Edgewater and Wynwood | Surfside and Bal Harbour |
| $1 to $2 million | Palmetto Bay, Sunny Isles Beach, Upper East Side, Surfside and Bal Harbour | Coconut Grove, Key Biscayne |
| Over $2 million | Coconut Grove, Coral Gables, Miami Beach, Pinecrest, Key Biscayne | — |
Price alone is not enough to choose between them: also compare schools, commutes and flood risk in our guide to Miami neighborhoods. And if you are buying from outside the U.S., read how to buy property in Miami as a foreigner.
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Frequently asked questions
How much does a house cost in Miami?
The typical value of a single-family house in Miami-Dade County is $599,000, and of a condo, $347,000, according to Zillow (September 2026). It varies widely by area: from $511K in Hollywood to $4.14M in Key Biscayne.
Are home prices falling in Miami?
For condos, yes: the typical Miami-Dade condo fell 2.2% over a year. Houses rose 1.3%, and considerably more in exclusive areas.
What is the cheapest area to live in Miami?
Of the areas we compare, the most affordable houses are in Hollywood and Hialeah, and the lowest rents in Little Havana and Kendall.
How much does it cost to rent in Miami?
Typical rent in Miami-Dade is $2,789 a month according to Zillow, with areas ranging from $2,067 to $7,716.
How much does flood insurance cost in Miami?
For a single-family house with the federal policy, the median annual cost ranges from $552 in Miami Lakes to $4,629 in Key Biscayne, based on OpenFEMA policies. It depends mainly on the home's elevation and location.
How often is this data updated?
Every month, when Zillow and OpenFEMA publish new data. The update date appears at the top of the page.
Sources and method
Home values come from Zillow Research's ZHVI for single-family houses and condos separately, in the middle tier of the market (35th to 65th percentile), smoothed and seasonally adjusted, as of September 2026. Rents come from Zillow's ZORI, which combines houses and apartments. For City of Miami neighborhoods we use Zillow's neighborhood definitions, and for their rent, the main ZIP code. Sales indicators (median price, sale-to-list ratio, sales below list, days to pending and inventory) are for the Miami-Fort Lauderdale-West Palm Beach metro area. Flood insurance cost is our median of the total cost of NFIP policies on single-family houses written between October 2025 and September 2026, from OpenFEMA's redacted data, filtered by ZIP code and community. Property tax rates are 2025 rates from the Miami-Dade Property Appraiser and the Florida Department of Revenue, with the calculations explained in our luxury and neighborhood guides. We update this page every month. This is general information, not an appraisal or financial advice.
Sources
- Zillow Research: Housing data (ZHVI, ZORI and market metrics)
- OpenFEMA: FIMA NFIP Redacted Policies (data.gov catalog)
- Miami-Dade Property Appraiser: 2025 proposed millage rate comparison (PDF)
- Florida Department of Revenue: 2025 comparison of levies, Broward County (PDF)
- FEMA: Flood Map Service Center