Single-family Foreclosures in Miami, FL 33147

Current Market Conditions in Miami, FL

The Miami real estate market remains strong, with demand-driven prices continuing to increase due to its attractiveness as a tourist and residential location. The influx of people moving from other states and countries adds pressure to the housing supply, which in certain areas is failing to keep up with buyer demand.

As of late 2023, there are signs of a slight cooldown in the market compared to the previous year, with a slight increase in days on market and a modest stabilization of price growth, allowing some first-time buyers to enter the market.

Rent Prices In Miami, FL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Miami, FL, is on a rollercoaster ride. The average rent price in Miami, FL, is $2,086.00. Indeed, when looking to rent in Miami, FL, you can expect to pay as little as $640.00 or as much as $7,120.00, with the average rent median estimated to be $1,940.00. The good news is that finding an affordable and desirable property to rent in Miami, FL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.