Foreclosures in Miami, FL

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Home Value Estimator For Miami, FL

There are currently 403,737 real estate properties in Miami, FL, with a median automated valuation model (AVM) price of $542,190.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Miami, FL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Miami, FL, is $681,236.00, with the most expensive house in Miami, FL, topping out at $88,916,200.00 and the cheapest home in Miami, FL, clocking in at $21,006.00. In other words, there’s something for every potential homebuyer or savvy investor in Miami, FL!

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.

Top Reasons To Live In Miami, FL In 2024

Miami is located in Miami-Dade, Florida, with an estimated municipal population of 467,963 residents. All of the best foreclosed homes for sale in Miami are located in the following zip code areas on 33129 33125 33126 33127 33128 33149 33144 33145 33142 33139 33138 33137 33136 33135 33134 33133 33132 33131 33130 33150 33101 33109 33111 33151 33222 33231 33233 33238 33255 33299. The estimated population per square kilometer (.62 miles) in Miami is 5,019.

Cost Of Living In Miami, FL

So, about how much do homes cost in Miami? The most recent median value of resident-owned homes in Miami is 317,994. An estimated 29.6 percent of households in Miami own their homes, with an average family size of 3.4. The median household income in Miami is 39,049, with17.9 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Miami, the median commute time of resident workers (in minutes) is 29.3. And last, but certainly not least, are you looking for homes to rent in Miami? If so, the average rent price paid by renters in Miami is 1,183, according to recent statistics.

Diversity And Demographics In Miami, Florida

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Miami, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Miami is 40.1, split between 49.5 percent male versus 50.5 female. The percentage of residents who report being married in Miami is 36, with an average family size of 3.4.

The percentage of residents who report their race in Miami is as follows:

White 76.1%
Black / African American 16.8%
Asian 1.1%
American Indian / Alaskan Native 0.2%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 1.7%
Other 4%

Looking for family-friendly neighborhoods in and/or near Miami? Or maybe you are searching for 55+ active adult communities in and/or near Miami?

The percentage of residents who report their age in Miami is as follows:

Under 10 10.4%
Aged 10-19 8.9%
20s 14.1%
30s 16.5%
40s 14.4%
50s 13.5%
60s 9.9%
70s 7.2%
80+ 5.2%

Best Schools In Miami, Florida

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Miami with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Miami.

Pros And Cons Of Living In Miami, Florida

How do you know that living in -- or moving to -- Miami is right where you need to be? Perhaps you grew up in Miami or already live nearby; therefore, the decision to buy a home in Miami is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Miami for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Miami:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Miami.

Reasons To Move To Miami, Florida, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Miami can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Miami, meanwhile, can field multiple offers from more qualified buyers.

Miami, FL Foreclosures

Successful Real Estate Investor explains how to find and purchase Preforeclosure & Foreclosure homes

Listing types in Miami, FL

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