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Miami, Florida

Know what your Miami home is really worth

A global city with a stratified market spanning Brickell condos and Coral Gables estates, Miami posted a $776K median sale price on 1,106 active listings — one of Florida's most liquid luxury markets.

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Miami market snapshot

Median Sale Price
$776K
Median Days on Market
83 days
Active Listings
1,106

RentCast market data · Miami-Dade County County, Florida

About Miami, Florida

Miami is a coastal city in the U.S. state of Florida. It is the second-most populous city proper in Florida, with a population of 442,241 at the 2020 census. The Miami metropolitan area in South Florida has an estimated 6.39 million residents, ranking as the fifth-largest metropolitan area in the Southeast and eighth-largest metropolitan area in the United States. Miami has the third-largest skyline in the U.S. with over 300 high-rises, 70 of which exceed 491 ft (150 m). It is the county seat of Miami-Dade County.

Miami is a major center and leader in finance, commerce, culture, arts, and international trade. Miami's metropolitan area is by far the largest urban economy in Florida, with a 2023 gross domestic product of $533.674 billion. In a 2018 UBS study of 77 world cities, Miami was the third-richest city in the U.S. and the third-richest globally in purchasing power. Miami is a majority-minority city, with 70.2 percent of the city's population identifying as Hispanic and Latino as of 2020.

Downtown Miami has among the largest concentrations of international banks in the U.S. and is home to several large national and international companies. The Health District is home to several major University of Miami–affiliated hospital and health facilities, including Jackson Memorial Hospital, the nation's largest hospital with 1,547 beds, and the Miller School of Medicine, the University of Miami's academic medical center and teaching hospital, and others engaged in health-related care and research. PortMiami, the city's seaport, is the busiest cruise port in the world in both passenger traffic and cruise lines.

Miami by the numbers

Population 446,663 · Median age 39.7 yrs · Census ACS 2023

Median household income

Miami's median household income of $59,390 compares to $71,711 statewide and $78,538 nationally, per Census ACS 2023 5-year estimates.

Median age (years)

The median age in Miami is 39.7 yrs, compared to 42.6 yrs for Florida and 38.7 yrs nationally.

Gender split

Miami is 50.7% male and 49.3% female, per Census ACS estimates.

Population trend — Miami

Miami's population declined 1.7% from 2019 to 2023, per Census ACS 5-year estimates.

Source: U.S. Census Bureau, American Community Survey 2023 5-year estimates.

Florida government

Governor

Ron DeSantis

Republican

U.S. Senators

  • Moody, Ashley(R)
  • Scott, Rick(R)

House Representatives (27)

  • Patronis, Jimmy — District 1(R)
  • Dunn, Neal P. — District 2(R)
  • Cammack, Kat — District 3(R)
  • Bean, Aaron — District 4(R)
  • Rutherford, John H. — District 5(R)
  • Fine, Randy — District 6(R)
  • Mills, Cory — District 7(R)
  • Haridopolos, Mike — District 8(R)
  • Soto, Darren — District 9(D)
  • Frost, Maxwell — District 10(D)
  • Webster, Daniel — District 11(R)
  • Bilirakis, Gus M. — District 12(R)
  • Luna, Anna Paulina — District 13(R)
  • Castor, Kathy — District 14(D)
  • Lee, Laurel M. — District 15(R)
  • Buchanan, Vern — District 16(R)
  • Steube, W. Gregory — District 17(R)
  • Franklin, Scott — District 18(R)
  • Donalds, Byron — District 19(R)
  • Mast, Brian J. — District 21(R)
  • Frankel, Lois — District 22(D)
  • Moskowitz, Jared — District 23(D)
  • Wilson, Frederica S. — District 24(D)
  • Wasserman Schultz, Debbie — District 25(D)
  • Diaz-Balart, Mario — District 26(R)
  • Salazar, Maria Elvira — District 27(R)
  • Gimenez, Carlos A. — District 28(R)

Source: Congress.gov, Wikidata. Federal legislators represent Florida statewide or by congressional district.

Miami economy

Miami is a major center of commerce and finance and has a strong international business community. According to the 2020 ranking of world cities undertaken by the Globalization and World Cities Research Network (GaWC) based on the level of presence of global corporate service organizations, Miami is considered a Beta + level world city, along with Atlanta, Dallas, and Houston. However, according to the U.S. census between 2015 and 2019, Miami lacks in terms of owner-occupied housing, computer and internet usage, education of bachelor's degree or higher, median household income, per capita income, while having a higher percentage of persons in poverty. In 2013, Miami had a Gross Metropolitan Product of $257 billion, ranking 11th in the United States and 20th worldwide in GMP. Several large companies are headquartered in Miami and the Miami area, including but not limited to Akerman LLP, Alienware, Arquitectonica, Brightstar Corporation, Celebrity Cruises, Carnival Corporation, Duany Plater-Zyberk, Greenberg Traurig, Inktel Direct, Lennar Corporation, Norwegian Cruise Line, Oceania Cruises, OPKO Health, Parkjockey, RCTV International, Royal Caribbean International, Sitel, Southern Wine & Spirits, Telemundo, Vector Group, Watsco and World Fuel Services. In 2022, hedge fund Citadel LLC and market maker Citadel Securities relocated their headquarters from Chicago to Miami. Over 1,400 multinational firms are located in Miami, with many major global organizations headquartering thei…

Source: Wikipedia article on Miami under CC BY-SA 4.0.

Climate in Miami

Monthly climate — Miami

Source: NOAA Climate Data Online, 1991–2020 climate normals, station GHCND:USC00081306.

Miami real estate news

Recent news about the Miami housing market. Source: Google News.

Miami real estate — frequently asked questions

What is the median home price in Miami?
The median home sale price in Miami, FL is $776,000, based on the most recent available sales data.
How long do homes stay on the market in Miami?
Homes in Miami sell in a median of 83 days.
What is the cost of living like in Miami?
Miami has a median household income of $59,390, per U.S. Census Bureau ACS estimates.
Who lives in Miami?
Miami has a population of 446,663 with a median age of 39.7 years, per U.S. Census Bureau ACS estimates.
How do I sell my home in Miami?
Start with a free, no-obligation home value estimate. Enter your address above and we'll connect you with a licensed local real-estate professional familiar with the Miami market within 24 hours.

How it works

  1. 1

    Enter your address

    We pull public records and comparable sales for your Miami property in seconds.

  2. 2

    See the math

    Three data-driven estimates — low, mid, and high — with the market context behind them.

  3. 3

    Connect with an expert

    A licensed Florida real-estate professional reaches out within 24 hours.

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ForSaleAmerica.com is an online marketplace and is not a real estate brokerage in Florida. Property valuations shown are automated estimates based on public data and are not appraisals, comparative market analyses, or guarantees of sale price. We connect homeowners with top local agents and partners — we do not represent buyers or sellers.