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  1. Home
  2. /Browse ZIP Codes
  3. /Florida
  4. /Miami
  5. /Downtown, Miami, FL - 33132

Downtown, Miami, FL—33132

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$515,000
3.3% YoY Growth
Household Income
$110,000
40.8% YoY Growth
Days on Market
99
11.0% Longer YoY
Home Price Forecast
1.9%
Median Rent
$3,600
1.4% YoY Growth
1-Bed Rent
$3,100
0.3% YoY Growth
2-Bed Rent
$4,500
1.4% YoY Growth
3-Bed Rent
$7,600
7.6% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Downtown, Miami, FL

As of May '26, the median home price in Downtown, Miami, FL is $515,000, with a year-over-year change of -3.3%. This indicates that home prices in Downtown, Miami, FL are decreasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$515,000-3.3%
Single Family $474,000-2.5%
Condos $516,000-2.5%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $408,000
    -3.5%
    2 Bed
    		$652,000-2.4%
    3 Bed
    		$1,183,0000.3%
    4 Bed
    		N/AN/A
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    12.9%
    1 Bedroom
    34.7%
    2 Bedrooms
    41.2%
    3 Bedrooms
    10.2%
    4 Bedrooms
    0.8%
    5+ Bedrooms
    0.2%

    Rental Trends — Downtown, Miami, FL

    As of July '25, Rentcast reports the average rent in Downtown, Miami, FL is $4,110, with a year-over-year rent change of -1.4%. Per bedroom, the median rent as of July '25 in Downtown, Miami, FL is studios: $2,560, 1-bedrooms: $3,340, 2-bedrooms: $4,960, 3-bedrooms: $7,520, 4-bedrooms: $9,000. The most common rental property sizes in Downtown, Miami, FL are 1-bedroom and 2-bedroom, accounting for 38.4% and 38.1% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$3,600$4,110
    Studio Rent $2,400$2,560
    1 Bed Rent $3,100$3,340
    2 Bed Rent $4,500$4,960
    3 Bed Rent $7,600$7,520
    4 Bed Rent $9,000$9,000
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    % of Rental Stock

    Studio
    16.2%
    1 Bedroom
    38.4%
    2 Bedrooms
    38.1%
    3 Bedrooms
    7.3%

    Property Listings — Downtown, Miami, FL

    As of May '26, Realtor.com reports that the median days on market for a home in Downtown, Miami, FL is 99. This is a increase of 11.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$645,000-7.0%
    Listing Count
    		792-1.0%
    Listings as % of Homes3.4%-1.0%
    Days on Market
    		9911.0%
    Loading chart...

    Demographics — Downtown, Miami, FL

    As of the latest ACS Survey released in 2023, Downtown, Miami, FL has a population of 18,200, which has increased by 41.5% over the past 5 years. Downtown, Miami, FL is a less popular place for families, as children make up 7.4% of the population. The area has a highly educated workforce, with 60.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		18,20041.5%
    % Under 18
    		7.4%2.8%
    % Seniors
    		4.7%-42.0%
    % WFH
    		25.9%133.3%
    % w/ College Degree
    		60.9%3.9%
    Loading chart...

    As of the latest ACS Survey released in 2023, Downtown, Miami, FL is a predominantly hispanic area, with 52.7% of the population identifying as hispanic. The hispanic population has grown by 6.0% in the last 5 years. The second most common race or ethnicity in Downtown, Miami, FL is white, making up 28.9% of the population. Foreign-born residents account for 50.3% of the population in Downtown, Miami, FL, and this percentage has increased by 10.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		28.9%-15.0%
    % Black
    		7.9%-32.5%
    % Hispanic
    		52.7%6.0%
    % Asian
    		6.2%59.0%
    % Foreign Born
    		50.3%10.3%
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    Mortgage and Risk — Downtown, Miami, FL

    According to HUD data as of 2023, there were 424 mortgage originations in Downtown, Miami, FL, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Downtown, Miami, FL. Investor activity is low, as 10.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		424
    % Conventional Loans
    		99.0%
    % Government Loans
    		1.0%
    % Investor Loans
    		10.0%
    % Second Loans
    		22.0%
    % Cash Out Refinance
    		4.0%
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    Rentals and Section 8 — Downtown, Miami, FL

    As of 2024, the percent of homes in Downtown, Miami, FL under the Section 8 program is 0.5%. 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. In Downtown, Miami, FL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		42
    Total Units Section 8
    		42
    % Rentals under Section 8
    		0.5%
    % Occupied Section 8
    		92.4%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$260$3,100$2,840
    2 Bedroom-$1,010$4,500$3,490
    3 Bedroom-$3,090$7,600$4,510
    4 Bedroom-$3,720$9,000$5,280

    Affordability — Downtown, Miami, FL

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio5.1
    Median Home Price$515,000
    Median Household Income$110,000

    Downtown, Miami, FL — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    33131

    South Beach, Miami Beach, FL

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    Little Havana, Miami, FL

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    Little Havana, Miami, FL

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    Overtown, Miami, FL

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    Frequently Asked Questions