South Miami, FL housing market
Homes typically sell in 58 days, below asking.
Home values, sales, trends and how South Miami compares with the towns next door — updated as new data is published.
South Miami at a glance
A seller's market
Supply is tight — about 3.3 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Home prices up 75% in 5 years
The federal house price index for the ZIP codes around South Miami rose 75% over the past 5 years, faster than across Florida (60%). Last year prices rose 2.6%. Carrying the Census median home value forward with that index puts the typical South Miami home at roughly $1,542,000 today.
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| Year | Change that year | Since 2000 | Florida since 2000 |
|---|---|---|---|
| 2025 | +2.6% | +410% | +264% |
| 2024 | +12% | +397% | +266% |
| 2023 | +17% | +342% | +254% |
| 2022 | +19% | +278% | +226% |
| 2021 | +8.9% | +216% | +163% |
| 2020 | +3.7% | +190% | +128% |
| 2019 | +2.2% | +180% | +117% |
| 2018 | +8.2% | +174% | +106% |
| 2017 | +0.6% | +153% | +90% |
| 2016 | +9.8% | +152% | +76% |
| 2015 | +9% | +129% | +61% |
| 2014 | +14% | +110% | +47% |
| 2013 | +14% | +84% | +34% |
| 2012 | −0.5% | +62% | +24% |
| 2011 | +1.1% | +63% | +26% |
| 2010 | −5.9% | +61% | +36% |
| 2009 | −18% | +71% | +50% |
| 2008 | −17% | +110% | +83% |
| 2007 | +0.8% | +154% | +117% |
| 2006 | +21% | +152% | +123% |
| 2005 | +26% | +109% | +92% |
| 2004 | +18% | +66% | +51% |
| 2003 | +11% | +41% | +30% |
| 2002 | +13% | +27% | +20% |
| 2001 | +12% | +12% | +9.7% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 33143, 33155, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
18 new homes permitted in 2025
Builders were permitted 18 new homes in South Miami in 2025, all single-family houses, worth about $20.2 million to build. That's 1.5 per 1,000 residents, slower than across Florida (8.3). Over the past 10 years, South Miami has permitted 940 homes in all.
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| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 15 | 15 | 0 | $15.3 million |
| 2025 | 18 | 18 | 0 | $20.2 million |
| 2024 | 332 | 16 | 316 | $91.9 million |
| 2023 | 265 | 17 | 248 | $81 million |
| 2022 | 187 | 15 | 172 | $43.3 million |
| 2021 | 32 | 11 | 21 | $9.5 million |
| 2020 | 29 | 9 | 20 | $8.2 million |
| 2019 | 30 | 10 | 20 | $8.7 million |
| 2018 | 13 | 13 | 0 | $7.1 million |
| 2017 | 12 | 12 | 0 | $6.5 million |
| 2016 | 22 | 22 | 0 | $11.5 million |
| 2015 | 3 | 3 | 0 | $1.2 million |
| 2014 | 3 | 3 | 0 | $1.2 million |
| 2013 | 5 | 5 | 0 | $1.9 million |
| 2012 | 2 | 2 | 0 | $775,000 |
| 2011 | 3 | 3 | 0 | $1.2 million |
| 2010 | 2 | 2 | 0 | $775,000 |
| 2009 | 5 | 5 | 0 | $1.9 million |
| 2008 | 7 | 7 | 0 | $2.7 million |
| 2007 | 15 | 15 | 0 | $5.8 million |
| 2006 | 19 | 19 | 0 | $7.5 million |
| 2005 | 21 | 21 | 0 | $7.7 million |
| 2004 | 38 | 31 | 7 | $11.5 million |
| 2003 | 18 | 18 | 0 | $4.2 million |
| 2002 | 304 | 10 | 294 | $22 million |
| 2001 | 18 | 18 | 0 | $2.8 million |
| 2000 | 13 | 13 | 0 | $2.8 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
South Miami and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| South Miami | — | +2.6%† | $2,890 | 18 | $94,507 |
| Glenvar Heights | — | +2.9%† | $2,870 | — | $72,118 |
| Pinecrest | $2.21M | +5.6% | $2,810 | 34 | $206,417 |
† FHFA price index change, where Zillow has no home value for the town.
8.8 years of income
The typical South Miami home costs about 8.8 years of the town's median household income, more than across Florida (5 years).
How South Miami ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $2,890
HUD's Fair Market Rent for a two-bedroom in South Miami is $2,890 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in South Miami pay a median of $1,764, so moving in tends to cost more than staying put. A two-bedroom takes about 37% of the town's median household income, above the 30% guideline for affordable housing.
Studio $2,160 · 4 bedrooms $4,280
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (33143, 33155; Miami-Miami Beach-Kendall, FL HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.