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City · 5,847 residents · Miami-Dade County, Florida

Bay Harbor Islands , Florida

In Bay Harbor Islands, a typical home is worth $653,500 and typical rent is $2,442 a month. Compared with all of Miami-Dade County, the typical home value is 41% higher and typical rent is 34% higher.

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  • Typical home value

    $653,500

    41% above the county

    82% above Florida

    • Bay Harbor Islands
    • Miami-Dade
    • Florida

  • Typical rent

    $2,442a month

    34% above the county

    46% above Florida

    • Bay Harbor Islands
    • Miami-Dade
    • Florida

  • Typical household income

    $89,663a year

    25% above the county

    20% above Florida

    • Bay Harbor Islands
    • Miami-Dade
    • Florida

  • Households that own their home

    49%

    3 points below the county

    19 points below Florida

    • Bay Harbor Islands
    • Miami-Dade
    • Florida

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$710,754
3.5% more than 12 months ago
Typical rent
$4,625 a month
0.5% less than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Bay Harbor Islands is in Miami-Dade County. The FHA loan limit ($667,000 for a one-unit home), the fair market rents and the help on this page are those of all of Miami-Dade County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Bay Harbor Islands apart

What this place has that others do not, from public data, most unusual first.

  1. Bay Harbor Islands has the 13th largest share of rent-burdened renters of the 434 cities in Florida with more than 5,000 people (79%).

  2. Nearby, in North Miami, the typical home value is $365,000: 44% less than in Bay Harbor Islands ($653,500).

  3. The typical home in Bay Harbor Islands is worth $653,500, 41% more than in Miami-Dade County as a whole ($463,000).

  4. Nearby, in North Miami, the typical rent is $1,702: 30% less than in Bay Harbor Islands ($2,442).

  5. The typical rent in Bay Harbor Islands is $2,442 a month, 34% more than in Miami-Dade County as a whole ($1,829).

  6. According to Zillow, in the 12 months to September 2026 the typical home value in Bay Harbor Islands rose 3.5%; in Florida, it fell 0.9%.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Bay Harbor Islands

What homes there are in Bay Harbor Islands, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Bay Harbor Islands, the apartment is the most common kind of home: 81%, against 45% in Miami-Dade County.

Year built

The typical home in Bay Harbor Islands was built in 1970, 10 years before the typical one in Miami-Dade County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,807 a month

Miami-Dade County: $2,451 a month

Owners with a mortgage

55%

Miami-Dade County: 59%

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Bay Harbor Islands rose 80% since 2015–2019, more than in Miami-Dade County (60%).

Much as in Miami-Dade County, the typical rent in Bay Harbor Islands rose 38% since 2015–2019.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBay Harbor IslandsMiami-Dade CountyFloridaUnited States
Rental vacancy Unreliable estimate5.5%7.6%5.5%
Homeowner vacancy Unreliable estimate1.2%1.4%0.9%
More than one person per room Unreliable estimate7.2%3.3%3.4%
People per household 2.822.762.512.53
Drive alone 54%69%70%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimate3%1%3%
Walk or bike Unreliable estimate3%2%3%
Work from home 31%14%16%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate30 to 39 minutes20 to 29 minutes20 to 29 minutes

Much as in Miami-Dade County, a household in Bay Harbor Islands has 2.82 people on average.

Many people here do not commute at all: 31% work from home; in Miami-Dade County, 14%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Bay Harbor Islands?

A typical home costs more than the typical income allows

We start with a typical home in Bay Harbor Islands, worth $653,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 73% of the typical household income in Bay Harbor Islands, which is $89,663 a year. For that payment to be 28% of income, a household would need to earn about $232,756 a year.

The calculator's FHA and conventional loan limits are those of all of Miami-Dade County.

Your numbers

Local data
$

Starts at the typical home value in Bay Harbor Islands. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $22,873 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,431

at 7.18% · 30 years

Loan amount
$641,663
Total interest
$923,202
Paid off in
November 2056

Includes $11,036 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,092 a month

  • Tight

    $2,092 to $2,690 a month

  • Hard

    more than $2,690 a month

    Your payment · 73%

Compared with the typical household income in Bay Harbor Islands ($89,663 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,431
Principal & interest$4,347
Property tax$523
Home insurance$272
FHA mortgage insurance (MIP)$289

You need at least $22,873 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Bay Harbor Islands and Miami-Dade County

Bay Harbor Islands is in Miami-Dade County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Bay Harbor Islands's own numbers

Typical home value
$653,500
Typical monthly rent
$2,442
Typical yearly household income
$89,663
Households that own their home
49%
Effective property tax rate
0.96%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Miami-Dade County

FHA limit, one-unit home
$667,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,564
Price change over 5 years (FHFA)
+80%
Homes in a high flood-risk zone
40%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Miami-Dade County.

Everything about Miami-Dade County

Buying

Buying a home in Bay Harbor Islands

A typical home in Bay Harbor Islands is worth $653,500: 41% above the county and 82% above Florida. With the typical household income in Bay Harbor Islands ($89,663 a year), a typical home costs 7.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Bay Harbor Islands 7.3 years
  • Miami-Dade 6.5 years
  • Florida 4.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Miami-Dade County

According to FHFA’s house price index, home prices in Miami-Dade County rose 148% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Miami-Dade County.

Period County Florida U.S.
Last year (2025) +2.8% −0.5% +2.9%
5 years (2020–2025) +80% +60% +47%
10 years (2015–2025) +148% +127% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Bay Harbor Islands next to Miami-Dade County, Florida and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Bay Harbor Islands $653,500
  • Miami-Dade $463,000
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Bay Harbor Islands $2,442
  • Miami-Dade $1,829
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Bay Harbor Islands $89,663
  • Miami-Dade $71,753
  • Florida $74,568
  • United States $80,734
See the full table
Bay Harbor Islands next to Miami-Dade County and Florida
Measure Bay Harbor Islands Miami-Dade County Florida U.S.
Typical home value $653,500 $463,000 $359,000 $332,700
Typical monthly rent $2,442 $1,829 $1,669 $1,413
Typical yearly household income $89,663 $71,753 $74,568 $80,734
Households that own their home 49% 52% 68% 65%
Typical yearly property tax $6,256 $3,744 $2,730 $3,119
Effective property tax rate 0.96% 0.81% 0.76% 0.94%
Renters with high rent for their income 79% 64% 60% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Miami-Dade County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Bay Harbor Islands

For a typical $653,500 home in Bay Harbor Islands, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Bay Harbor Islands's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,431a month

    Least cash to close
    Down payment
    $22,873
    Cash to close
    $42,478
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $289

  • Conventional, 5% down $5,311a month

    Down payment
    $32,675
    Cash to close
    $52,280
    Rate
    7.18%
    Mortgage insurance
    PMI · $310

  • Conventional, 20% down, no PMI $4,337a month

    Down payment
    $130,700
    Cash to close
    $150,305
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,941a month

    Down payment
    $98,025
    Cash to close
    $117,630
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Bay Harbor Islands and for Miami-Dade County.

Property tax

Effective rate in Bay Harbor Islands

0.96%of the home’s value each year

$6,256 a year for the typical owner in Bay Harbor Islands.

  • Bay Harbor Islands 0.96%
  • Miami-Dade 0.81%
  • Florida 0.76%

What Florida publishes Homestead exemption (Florida Department of Revenue)

Exemptions and deadlines in Florida

Flood risk in Miami-Dade County

FEMA does not publish these numbers by city: they are for all of Miami-Dade County.

Homes in the high-risk zone
40%
199,250
Of those, with NFIP insurance
74%
County Florida U.S.
Homes in the high-risk zone 40% 13% 3.5%
Of those, with NFIP insurance 74% 67% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Bay Harbor Islands

Typical rent in Bay Harbor Islands is $2,442 a month: 34% above the county. In Bay Harbor Islands, 79% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Miami-Dade County, by unit size. To pay the 2-bedroom one ($2,564 a month) without spending more than 30% of your income, you would need to earn $49.31 an hour working full time.

HUD fair market rent for all of Miami-Dade County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,953 $37.56 $78,120
1 bedroom $2,121 $40.79 $84,840
2 bedrooms $2,564 $49.31 $102,560
3 bedrooms $3,277 $63.02 $131,080
4 bedrooms $3,749 $72.10 $149,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Bay Harbor Islands

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Bay Harbor Islands is in ZIP code 33154.

For 2 bedrooms it is $3,270: $706 more than the fair market rent for Miami-Dade County ($2,564).

  • 33154 $3,270$4,180

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Bay Harbor Islands when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Bay Harbor Islands

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 11 HUD-approved agencies with an office in Miami-Dade County; 9 say they serve in Spanish.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

HUD counseling is free or low-cost

Assistance programs in Bay Harbor Islands

1 program is for Bay Harbor Islands or Miami-Dade County, by its own record: they come first, each with what its official page says about being open. The ones below are statewide in Florida: they work in Bay Harbor Islands the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Bay Harbor Islands

The HUD-approved agencies closest to the center of Bay Harbor Islands, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Housing Foundation of America

    11900 Biscayne Blvd, North Miami · 2 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (786) 842-3843

  • NSC (naca Counseling Subsidiary) - N. Miami, FL

    656 NE 125th Street, North Miami · 3 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (425) 602-6222

  • Little Haiti Housing Association, Inc.

    8400 NE 2nd Ave, Miami · 4 miles away · Spanish

    Also serves in Creole and French.

    • Budget and financial counseling
    • Budget and credit workshops
    • and 6 more
    (786) 230-3785

Every agency in Miami-Dade County All counseling agencies in Florida

Help in Spanish near Bay Harbor Islands

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Bay Harbor Islands

In HUD’s record, no housing authority with an office in Miami-Dade County is named for Bay Harbor Islands or Miami-Dade County.

6 other authorities have an office in Miami-Dade County: see the list Source: HUD

Cities

Other cities in Miami-Dade County

These cities are also in Miami-Dade County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Miami-Dade County Housing in Florida
See 48 more cities in Miami-Dade County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Bay Harbor Islands, with the typical home value.

Neighboring counties

If Miami-Dade County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Bay Harbor Islands.

All guides
A father smiles as he carries his baby on his shoulders outdoors.

Questions

Housing questions about Bay Harbor Islands

Short answers with the numbers for Bay Harbor Islands and all of Miami-Dade County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Bay Harbor Islands?

The typical home value in Bay Harbor Islands is $653,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Miami-Dade County it is $463,000.

How much does it cost to rent in Bay Harbor Islands?

Typical rent in Bay Harbor Islands is $2,442 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Miami-Dade County is $2,564.

What is the FHA loan limit in Bay Harbor Islands?

Bay Harbor Islands uses the FHA limit for all of Miami-Dade County (2026): $667,000 for a one-unit home and $1,282,700 for a four-unit home.

How much property tax do owners pay in Bay Harbor Islands?

The typical homeowner in Bay Harbor Islands pays $6,256 a year, according to the U.S. Census Bureau. That is 0.96% of the home’s value; in Miami-Dade County, the rate is 0.81%.

Where can I find free help to buy or rent in Bay Harbor Islands?

There are 11 HUD-approved counseling agencies with an office in Miami-Dade County. 9 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).