According to statistics, the population in Miami, FL amounts to 470,911, which shows growth 2% compared to the previous year. The median age of the city’s residents is 41. The average household income is $41,818, shifting growth 4% from the past year, and the average property value in Miami, FL growth 9% to $350,400 throughout the year.
|Number Of Employees||235,956|
|Median Property Value||$350,400|
The average household income in Miami, FL grew from $40,327 to $41,818 in the past year. This data is an estimate based upon 182,631 households in Miami, FL . The chart below presents how household income is distributed in Miami, FL in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Miami, FL shifted from $322,100 to $350,400 throughout the year. The subsequent graph indicates the share of properties in the given price range in Miami, FL in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Miami, FL properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Miami, FL compared to median property taxes around the country. The prevalent amount of property taxes in Miami, FL equals $3000, which is less than the national average.
|Apartment Size||May||vs Last Month|
|Studio for sale||$990,054||+29%|
|1 bed for sale||$273,247||-44.7%|
|2 bed for sale||$411,646||-43.7%|
|3 bed for sale||$789,965||-34.9%|
|4+ bed for sale||$2,024,681||+4.5%|
During May 2022, the average price for an apartment in/near Miami, FL decreased by 19.3% to $858,660.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $273,247 with no changes this month. Asking price for 2-bed apartment remains the same, a place of this size will still cost you $411,646. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $789,965. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $2,024,681 for a big-family home.
|Listing Type||May||vs Last Month|
|Apartments for sale||$363,310||-72.7%|
|Lofts for sale||$1,041,888||+65.1%|
|Townhouses for sale||$733,422||-27.1%|
|Condos for sale||$1,000,234||+9.2%|
|Duplexes for sale||$1,198,382||+35.7%|
|Other for sale||$1,724,403||+64.9%|
|Houses for sale||$832,575||-46.4%|
|Land for sale||$2,500,815||N/A|
While assessing the property pricing Miami, FL, you can note that it remains flat with a price tag of $363,310. According to statistics, average house is still $832,575 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $1,000,234. An average value of duplex is $1,198,382, thus a median price for a duplex remains the same this month. The price statistics of lofts have not significantly changed, it now still goes for $1,041,888. Value of the townhouses didn’t change, the price still starts at $733,422.