West Miami, Miami, FL—33144
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — West Miami, Miami, FL
As of Oct '25, the median home price in West Miami, Miami, FL is $612,000, with a year-over-year change of -3.5%. This indicates that home prices in West Miami, Miami, FL are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $612,000 | -3.6% |
| Single Family | $630,000 | -3.8% |
| Condos | $281,000 | -7.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $224,000 | -4.3% |
2 Bed | $525,000 | -3.3% |
3 Bed | $639,000 | -4.2% |
4 Bed | $717,000 | -2.6% |
| 5 Bed | $830,000 | -2.9% |
% of Housing Stock
Rental Trends — West Miami, Miami, FL
As of July '25, Rentcast reports the average rent in West Miami, Miami, FL is $2,770, with a year-over-year rent change of -4.8%. Per bedroom, the median rent as of July '25 in West Miami, Miami, FL is studios: $1,560, 1-bedrooms: $1,840, 2-bedrooms: $2,580, 3-bedrooms: $3,480, 4-bedrooms: $4,330. The most common rental property sizes in West Miami, Miami, FL are 2-bedroom and 1-bedroom, accounting for 42.1% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,620 | $2,770 |
| Studio Rent | $1,550 | $1,560 |
| 1 Bed Rent | $1,850 | $1,840 |
| 2 Bed Rent | $2,600 | $2,580 |
| 3 Bed Rent | $3,500 | $3,480 |
| 4 Bed Rent | $4,100 | $4,330 |
% of Rental Stock
Property Listings — West Miami, Miami, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in West Miami, Miami, FL is 67. This is a increase of 60.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $670,000 | -10.0% |
Listing Count | 58 | -8.0% |
| Listings as % of Homes | 0.5% | -8.0% |
Days on Market | 67 | 60.0% |
Demographics — West Miami, Miami, FL
As of the latest ACS Survey released in 2023, West Miami, Miami, FL has a population of 26,300, which has decreased by -13.1% over the past 5 years. West Miami, Miami, FL is a moderately popular place for families, as children make up 16.3% of the population. The area has a moderately educated workforce, with 27.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,300 | -13.1% |
% Under 18 | 16.3% | 17.3% |
% Seniors | 23.2% | -1.3% |
% WFH | 12.9% | 214.6% |
% w/ College Degree | 27.8% | 24.1% |
As of the latest ACS Survey released in 2023, West Miami, Miami, FL is a predominantly hispanic area, with 93.5% of the population identifying as hispanic. The hispanic population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in West Miami, Miami, FL is white, making up 4.7% of the population. Foreign-born residents account for 71.1% of the population in West Miami, Miami, FL, and this percentage has increased by 1.7% 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 | 4.7% | 11.9% |
% Black | 1.0% | -71.4% |
% Hispanic | 93.5% | -0.7% |
% Asian | 0.7% | 133.3% |
% Foreign Born | 71.1% | 1.7% |
Mortgage and Risk — West Miami, Miami, FL
According to HUD data as of 2023, there were 130 mortgage originations in West Miami, Miami, FL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in West Miami, Miami, FL. Investor activity is low, as 4.0% of loans were by investors. 28.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 130 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 28.0% |
Loan Activity
Rentals and Section 8 — West Miami, Miami, FL
As of 2024, the percent of homes in West 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 units appear to be good home sizes to consider for Section 8 housing in West Miami, Miami, FL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 157 |
Total Units Section 8 | 156 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,850 | $1,870 |
| 2 Bedroom | -$300 | $2,600 | $2,300 |
| 3 Bedroom | -$530 | $3,500 | $2,970 |
| 4 Bedroom | -$620 | $4,100 | $3,480 |
Affordability — West Miami, Miami, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.2 |
| Median Home Price | $612,000 |
| Median Household Income | $59,200 |