Miami-Fort Lauderdale-West Palm Beach, FL housing market
Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$476,815+0.3% YoY · prices are flat
Market right nowBalanced marketFewer homes for sale than last year, 16% have cut their price
Income needed to buy, per year$103,364About 1.3× the local median income ($79,761): a stretch for a typical household
Days on market79 daysFaster than a year ago: sellers have the edge
Next 12 months+0.7%Zillow expects prices to rise slightly
The typical home in Miami-Fort Lauderdale-West Palm Beach, FL is worth $476,815, about the same as a year ago. That is well above what local incomes have historically supported: fair value is about $428,100, so the area is 11.4% overvalued. It is a balanced market: homes take about 79 days to sell, listings are down 9% from a year ago, 16% of listings have had a price cut. Zillow expects prices to rise about 0.7% over the next year. A household needs about $103,364 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $79,761. Typical rent is $2,654 a month, or $3,433 for a house. In the latest IRS figures, 54,761 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$476,815
Change in 1 year
+0.3%
Overvalued %
+11.4%
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Fair home value
$428,100
Change in 5 years
+29.0%
Zillow forecast, next 12 months
+0.7%
Home value to income
6.0×
Monthly mortgage payment (20% down)
$2,584
Income needed to afford it
$103,364
Property tax rate
0.86%
Rent and investing
Typical rent
$2,654
Typical rent for houses
$3,433
Price-to-rent ratio
15.0×
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HUD Fair Market Rent, 2 bedrooms
$2,434
Gross rental yield
6.68%
Cap rate (estimate)
4.34%
Market activity
Listings vs a year ago
−9.4%
Days on market
79
Listings with a price cut
15.5%
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Homes for sale
42,759
Pending sales per 100 listings
20
Asking price per sq ft
$358
People and jobs
Median household income
$79,761
Population change (1 year)
−0.1%
Unemployment rate
5.1%
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Population
6,391,072
Income adjusted for cost of living
$69,843
Net moves in (IRS)
−54,761
Cost of living (US = 100)
114.2
Schools, risk and environment
School rating (1 to 10)
6.2
FEMA hazard risk score (0 to 100)
99.5
Unhealthy air days a year
0
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Flood risk score
99.4
Wildfire risk score
96.5
Walkability (1 to 20)
12.5
Road, rail and air noise
54 dB
Questions people ask
Is Miami-Fort Lauderdale-West Palm Beach, FL overvalued?
Home prices in Miami-Fort Lauderdale-West Palm Beach, FL are well above what local incomes have historically supported: fair value is about $428,100, so the area is 11.4% overvalued.
Is Miami-Fort Lauderdale-West Palm Beach, FL a buyer's or seller's market?
Miami-Fort Lauderdale-West Palm Beach, FL is a balanced market: homes take about 79 days to sell, listings are down 9% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Miami-Fort Lauderdale-West Palm Beach, FL?
Home values in Miami-Fort Lauderdale-West Palm Beach, FL are up 0.3% over the last year. Zillow's forecast for the next 12 months is +0.7%.
How much do you need to earn to buy a home in Miami-Fort Lauderdale-West Palm Beach, FL?
A household needs about $103,364 a year to afford the typical home in Miami-Fort Lauderdale-West Palm Beach, FL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $79,761.