Explore Miami, FL - Market Insights, Demographics, Crime, Trends & Hotspots

Pulse Score
C+
Cap Rate
1.97%
Investor Friendly Score
45.00%
Median Price
$640,250

Market Insights

With 11.1 months of inventory, Miami is currently in a buyer's market. The median home price in Miami currently stands at $640,250. At the current sales pace, it would take over 11.1 months to sell all available homes in Miami, indicating an oversupplied market. Homes are taking about 98 days to sell, which is 17 days longer than this time last year. A significant 20.9% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 7.6% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Miami market with the affordability index at 7.1. Looking ahead, the Miami market is expected to maintain its current trajectory with relatively stable conditions.

Demographics market for - Miami, FL

Total Population -

702,962

White Population

42.89%

Black Population

10.48%

Mexican2.85% (1.30% of total population)
Puerto Rican4.96% (2.27% of total population)
Cuban49.51% (22.63% of total population)
Dominican3.71% (1.69% of total population)
Salvadoran1.84% (0.84% of total population)
Costa Rican0.26% (0.12% of total population)
Gautemalan1.51% (0.69% of total population)
Honduran9.85% (4.50% of total population)
Nicaraguan9.26% (4.23% of total population)
Panamanian0.40% (0.18% of total population)
Argentinean1.95% (0.89% of total population)
Bolivian0.14% (0.07% of total population)
Chilean0.68% (0.31% of total population)
Colombian5.14% (2.35% of total population)
Ecuadorian0.97% (0.44% of total population)
Peruvian1.65% (0.75% of total population)
Uruguyan0.42% (0.19% of total population)
Venezuelan4.90% (2.24% of total population)

Indian 0.46% (0.21% of total population)
Bangladeshi 0%
Chinese 0.44% (0.20% of total population)
Bhutanese 0%
Burmese 0.06% (0.03% of total population)
Filipino 0.22% (0.10% of total population)
Hmong 0%
Indonesian 0%
Japanese 0.08% (0.03% of total population)
Korean 0.16% (0.07% of total population)
Laotian 0%
Malaysian 0.00% (0.00% of total population)
Mongolian 0%
Nepalese 0.00% (0.00% of total population)
Pakistani 0.13% (0.06% of total population)
Srilankan 0.00% (0.00% of total population)
Taiwanese 0.01% (0.01% of total population)
Pakistani 0.13% (0.06% of total population)
Srilankan 0.00% (0.00% of total population)
Taiwanese 0.01% (0.01% of total population)
Thai 0.09% (0.04% of total population)
Vietnamese 0.15% (0.07% of total population)

Hawaiian0.01% (0.01% of total population)
Samoan0.01% (0.00% of total population)
Chamorro0.04% (0.02% of total population)
Fijian0%
Marshallese0%

Crime for - Miami, FL

Kidnapping/Abduction23.08%
Kidnapping/Abduction0.85%
Sex Offenses, Non-forcible3.42%
Sex Offenses68.38%
Sex Offenses, Non-forcible0.85%
Sex Offenses3.42%

Homicide Offenses100.00%

Robbery100.00%

Larceny/Theft Offenses61.24%
Stolen Property Offenses10.01%
Burglary/Breaking & Entering6.21%
Destruction/Damage/Vandalism of Property16.01%
Motor Vehicle Theft6.53%

Assault Offenses0.08%
Assault Offenses99.92%

Arson6.76%
Counterfeiting/Forgery16.22%
Human Trafficking1.35%
Fraud Offenses74.32%
Bribery1.35%

Real Estate Market Prediction for - Miami, FL

City Hotspots

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