South Miami, Miami, FL—33143
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Miami, Miami, FL
As of Oct '25, the median home price in South Miami, Miami, FL is $917,000, with a year-over-year change of -1.4%. This indicates that home prices in South Miami, Miami, FL are decreasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $917,000 | -1.4% |
| Single Family | $1,637,000 | -0.6% |
| Condos | $276,000 | -7.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $240,000 | -6.6% |
2 Bed | $353,000 | -7.1% |
3 Bed | $1,132,000 | -1.6% |
4 Bed | $1,871,000 | -1.0% |
| 5 Bed | $4,281,000 | 0.8% |
% of Housing Stock
Rental Trends — South Miami, Miami, FL
As of July '25, Rentcast reports the average rent in South Miami, Miami, FL is $3,450, with a year-over-year rent change of 11.7%. Per bedroom, the median rent as of July '25 in South Miami, Miami, FL is studios: $2,080, 1-bedrooms: $1,990, 2-bedrooms: $2,610, 3-bedrooms: $5,310, 4-bedrooms: $7,000. The most common rental property sizes in South Miami, Miami, FL are 1-bedroom and 2-bedroom, accounting for 45.4% and 37.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,470 | $3,450 |
| Studio Rent | $2,020 | $2,080 |
| 1 Bed Rent | $1,950 | $1,990 |
| 2 Bed Rent | $2,500 | $2,610 |
| 3 Bed Rent | $4,950 | $5,310 |
| 4 Bed Rent | $7,000 | $7,000 |
% of Rental Stock
Property Listings — South Miami, Miami, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in South Miami, Miami, FL is 66. This is a increase of 7.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,580,000 | -1.0% |
Listing Count | 243 | 17.0% |
| Listings as % of Homes | 0.8% | 17.0% |
Days on Market | 66 | 7.0% |
Demographics — South Miami, Miami, FL
As of the latest ACS Survey released in 2023, South Miami, Miami, FL has a population of 32,200, which has remained stable by -0.1% over the past 5 years. South Miami, Miami, FL is a moderately popular place for families, as children make up 19.2% of the population. The area has a highly educated workforce, with 59.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,200 | -0.1% |
% Under 18 | 19.2% | 0.5% |
% Seniors | 19.8% | 30.3% |
% WFH | 17.8% | 249.0% |
% w/ College Degree | 59.8% | 13.0% |
As of the latest ACS Survey released in 2023, South Miami, Miami, FL is a predominantly hispanic area, with 60.2% of the population identifying as hispanic. The hispanic population has remained stable in the last 5 years. The second most common race or ethnicity in South Miami, Miami, FL is white, making up 27.2% of the population. Foreign-born residents account for 42.8% of the population in South Miami, Miami, FL, and this percentage has increased by 4.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 27.2% | -0.4% |
% Black | 6.5% | -12.2% |
% Hispanic | 60.2% | 0.0% |
% Asian | 2.2% | -51.1% |
% Foreign Born | 42.8% | 4.9% |
Mortgage and Risk — South Miami, Miami, FL
According to HUD data as of 2023, there were 288 mortgage originations in South Miami, Miami, FL, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in South Miami, Miami, FL. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 288 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — South Miami, Miami, FL
As of 2024, the percent of homes in South Miami, Miami, FL under the Section 8 program is 3.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in South Miami, Miami, FL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 301 |
Total Units Section 8 | 290 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $1,950 | $2,180 |
| 2 Bedroom | $170 | $2,500 | $2,670 |
| 3 Bedroom | -$1,500 | $4,950 | $3,450 |
| 4 Bedroom | -$2,960 | $7,000 | $4,040 |
Affordability — South Miami, Miami, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.8 |
| Median Home Price | $917,000 |
| Median Household Income | $80,900 |