City · 45,070 residents · Miami-Dade County, Florida
Cutler Bay, Florida
In Cutler Bay, a typical home is worth $472,700 and typical rent is $1,978 a month. Compared with all of Miami-Dade County, typical household income is 24% higher, typical rent is 8% higher, and the share of households that own their home is 18 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $406,422 to $563,335.
Typical rent
$2,982a month
▲ 2.8% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $2,222 to $2,982.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Cutler Bay 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
What this place has that others do not, from public data, most unusual first.
1
70% of households in Cutler Bay own their home, against 52% in Miami-Dade County.
2
Nearby, in Goulds, the typical rent is $1,423: 28% less than in Cutler Bay ($1,978).
3
The typical household income in Cutler Bay is $89,244,24% more than in Miami-Dade County as a whole ($71,753).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Cutler Bay
What homes there are in Cutler Bay, 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
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Cutler Bay
Miami-Dade County
Florida
United States
Kind of home: Cutler Bay and its comparisons
Measure
Cutler Bay
Miami-Dade County
Florida
United States
Detached house
66%
39%
55%
61%
Attached house
14%
10%
7%
6%
Building of 2 to 4
2%
5%
6%
8%
Apartments (5 or more)
18%
45%
25%
19%
Mobile home
Unreliable estimate
1%
8%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
In Cutler Bay, 7 in 10 homes are single-family detached houses; in Miami-Dade County, 4.
Year built
Before 19601960–19791980–19992000–20092010 or later
Cutler Bay
Miami-Dade County
Florida
United States
Year built: Cutler Bay and its comparisons
Measure
Cutler Bay
Miami-Dade County
Florida
United States
Before 1960
18%
21%
10%
26%
1960–1979
27%
29%
24%
24%
1980–1999
22%
26%
34%
25%
2000–2009
26%
13%
18%
14%
2010 or later
7%
11%
14%
11%
The typical home in Cutler Bay was built in 1984, 4 years after the typical one in Miami-Dade County.
Homes in Cutler Bay are bigger: 74% have 3 bedrooms or more; in Miami-Dade County, 45%.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K4%
$100K–$200KUnreliable
$200K–$300K8%
$300K–$500K43%
$500K–$750K32%
$750K–$1M7%
$1M or more4%
Value of owner-occupied homes: Cutler Bay and its comparisons
Measure
Cutler Bay
Under $100K
4%
$100K–$200K
Unreliable estimate
$200K–$300K
8%
$300K–$500K
43%
$500K–$750K
32%
$750K–$1M
7%
$1M or more
4%
Monthly rent with utilities
Unreliable estimate
Under $5009%
$500–$999Unreliable
$1,000–$1,49911%
$1,500–$1,99928%
$2,000–$2,49916%
$2,500–$2,99919%
$3,000 or more13%
Monthly rent with utilities: Cutler Bay and its comparisons
Measure
Cutler Bay
Under $500
9%
$500–$999
Unreliable estimate
$1,000–$1,499
11%
$1,500–$1,999
28%
$2,000–$2,499
16%
$2,500–$2,999
19%
$3,000 or more
13%
With a mortgage
$2,620 a month
Miami-Dade County: $2,451 a month
Without a mortgage
$759 a month
Miami-Dade County: $815 a month
Owners with a mortgage
70%
Miami-Dade County: 59%
Owning costs more in Cutler Bay: with a mortgage, the typical cost is $2,620 a month; in Miami-Dade County, $2,451. Without one, $759.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Cutler Bay+65%
Miami-Dade County+60%
Florida+67%
United States+53%
Typical rent
Cutler Bay+27%
Miami-Dade County+38%
Florida+42%
United States+33%
Typical household income
Cutler Bay+19%
Miami-Dade County+40%
Florida+34%
United States+29%
Change since 2015–2019: Cutler Bay and its comparisons
Measure
Cutler Bay
Miami-Dade County
Florida
United States
Typical home value
+65%
+60%
+67%
+53%
Typical rent
+27%
+38%
+42%
+33%
Typical household income
+19%
+40%
+34%
+29%
From 2015–2019 to 2020–2024, the typical home value in Cutler Bay rose 65%; in Miami-Dade County, it rose 60%.
Since 2015–2019, the typical rent in Cutler Bay rose 27%, less than in Miami-Dade County (38%).
Housing prices ran ahead of income in Cutler Bay: typical income rose 19%, against +65% for home values and +27% for rent.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Cutler Bay and its comparisons
Measure
Cutler Bay
Miami-Dade County
Florida
United States
Rental vacancy
Unreliable estimate
5.5%
7.6%
5.5%
Homeowner vacancy
Unreliable estimate
1.2%
1.4%
0.9%
More than one person per room
4.8%
7.2%
3.3%
3.4%
People per household
3.08
2.76
2.51
2.53
Drive alone
71%
69%
70%
69%
Carpool
9%
9%
9%
9%
Public transit
1%
3%
1%
3%
Walk or bike
Unreliable estimate
3%
2%
3%
Work from home
16%
14%
16%
15%
Other means
2%
2%
2%
2%
Typical commute
Unreliable estimate
30 to 39 minutes
20 to 29 minutes
20 to 29 minutes
In Cutler Bay, 4.8% of households live with more than one person per room, against 7.2% in Miami-Dade County.
More people live in each home here: 3.08 on average, against 2.76 in Miami-Dade County.
To get to work, 71% of workers in Cutler Bay drive alone; in Miami-Dade County, 69%.
Do the math
What would you pay each month for a home in Cutler Bay?
A typical home costs more than the typical income allows
We start with a typical home in Cutler Bay, worth $472,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 52% of the typical household income in Cutler Bay, which is $89,244 a year. For that payment to be 28% of income, a household would need to earn about $166,842 a year.
The calculator's FHA and conventional loan limits are those of all of Miami-Dade County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Cutler Bay. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $16,545 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$3,893
at 7.18% · 30 years
Loan amount
$464,138
Total interest
$667,785
Paid off in
November 2056
Includes $7,983 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,082 a month
Tight
$2,082 to $2,677 a month
Hard
more than $2,677 a month
Your payment · 52%
Compared with the typical household income in Cutler Bay ($89,244 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$3,144
Property tax
$343
Home insurance
$197
FHA mortgage insurance (MIP)
$209
You need at least $16,545 for the down payment, plus closing costs.
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.
Total monthly payment $3,893; principal and interest $3,144.
The city and its county
Cutler Bay and Miami-Dade County
Cutler Bay 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).
Cutler Bay
Map of Miami-Dade County, Florida, with Cutler Bay marked. Around it, the neighboring counties.
Cutler Bay
Miami-Dade County
Other cities with a page
Cutler Bay's own numbers
Typical home value
$472,700
Typical monthly rent
$1,978
Typical yearly household income
$89,244
Households that own their home
70%
Effective property tax rate
0.87%
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.
A typical home in Cutler Bay is worth $472,700: 2% above the county and 32% above Florida. With the typical household income in Cutler Bay ($89,244 a year), a typical home costs 5.3 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.
Cutler Bay5.3 years
Miami-Dade6.5 years
Florida4.8 years
United States4.1 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.
Yearly change in FHFA’s price index in Miami-Dade County, 2016 to 2025
2016: +9.0% +9.0% 2016
2017: +7.8% +7.8% 2017
2018: +7.4% +7.4% 2018
2019: +5.0% +5.0% 2019
2020: +4.2% +4.2% 2020
2021: +13.0% +13.0% 2021
2022: +22.4% +22.4% 2022
2023: +14.9% +14.9% 2023
2024: +10.0% +10.0% 2024
2025: +2.8% +2.8% 2025
Change in FHFA’s price index in Miami-Dade County, Florida and the United States
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
Cutler Bay 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
Cutler Bay$472,700
Miami-Dade$463,000
Florida$359,000
United States$332,700
Typical monthly rent
Cutler Bay$1,978
Miami-Dade$1,829
Florida$1,669
United States$1,413
Typical yearly household income
Cutler Bay$89,244
Miami-Dade$71,753
Florida$74,568
United States$80,734
See the full table
Cutler Bay next to Miami-Dade County and Florida
Measure
Cutler Bay
Miami-Dade County
Florida
U.S.
Typical home value
$472,700 ▲2% above the county
$463,000
$359,000
$332,700
Typical monthly rent
$1,978 ▲8% above the county
$1,829
$1,669
$1,413
Typical yearly household income
$89,244 ▲24% above the county
$71,753
$74,568
$80,734
Households that own their home
70% ▲18 points above the county
52%
68%
65%
Typical yearly property tax
$4,095 ▲9% above the county
$3,744
$2,730
$3,119
Effective property tax rate
0.87% ▲0.06 points above the county
0.81%
0.76%
0.94%
Renters with high rent for their income
64% ▼1 points below the county
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 Cutler Bay
For a typical $472,700 home in Cutler Bay, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Cutler Bay's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,893a month
Least cash to close
Down payment
$16,545
Cash to close
$30,726
Rate
7.18%
Mortgage insurance
FHA MIP · $209
Conventional, 5% down$3,806a month
Down payment
$23,635
Cash to close
$37,816
Rate
7.18%
Mortgage insurance
PMI · $225
Conventional, 20% down, no PMI$3,101a month
Down payment
$94,540
Cash to close
$108,721
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$3,538a month
Down payment
$70,905
Cash to close
$85,086
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Cutler Bay
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,893
$16,545
$464,138
7.18%
FHA MIP · $209
$30,726
580
Conventional, 5% down
$3,806
$23,635
$449,065
7.18%
PMI · $225
$37,816
620*
Conventional, 20% down, no PMI
$3,101
$94,540
$378,160
7.18%
None
$108,721
620*
ITIN, 15% down (example)
$3,538
$70,905
$401,795
8.18%
None
$85,086
Set by the lender
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.
Typical rent in Cutler Bay is $1,978 a month: 8% above the county. In Cutler Bay, 64% 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.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Miami-Dade County (Fiscal year 2027)
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 Cutler Bay
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Cutler Bay has 3 ZIP codes with their own.
For 2 bedrooms it runs from $2,310 in 33157 to $2,520 in 33190.
None is above the fair market rent for Miami-Dade County ($2,564).
2-bedroom fair market rent in each of the 3 ZIP codes of Cutler Bay, beside the one for Miami-Dade County. For 2 bedrooms it runs from $2,310 in 33157 to $2,520 in 33190. None is above the fair market rent for Miami-Dade County ($2,564).
2-bedroom fair market rent in each ZIP code
Each line is one ZIP code: in color, those above the county's fair market rent; in gray, the rest.
County: $2,564
Lowest: $2,310 (33157)Highest: $2,520 (33190)
Fair market rent by ZIP code and size in Cutler Bay, fiscal year 2027.
33157
$1,760
$1,910
$2,310
$2,950
$3,380
33189
$1,780
$1,940
$2,340
$2,990
$3,420
33190
$1,920
$2,080
$2,520
$3,220
$3,680
ZIP code2 bd3 bd
33157 $2,310$2,950
33189 $2,340$2,990
33190 $2,520$3,220
3 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Cutler Bay 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 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 15 buildings with rents for lower incomes in Cutler Bay. These are the largest.
Peninsula Housing21269 SW 85th Ave, Cutler Bay 33189376 homes, 375 low-income · For older adults(305) 232-8994
Cabana Club Apts19701 SW 110th Ct, Cutler Bay 33157334 homes, 330 low-income · Studio: 2 · 1 bd: 297 · 2 bd: 35 · In service since 1995
Sunset Bay10030 SW 224th St, Cutler Bay 33190308 low-income homes · 1 bd: 45 · 2 bd: 149 · 3 bd: 114 · In service since 2002 · For families
Old Cutler Village10407 Old Cutler Rd, Cutler Bay 33190288 low-income homes · 1 bd: 32 · 2 bd: 160 · 3 bd: 64 · 4 bd: 32 · In service since 2003 · For families
Pine Woods Villa8420 SW 188th Ter, Cutler Bay 33157272 homes, 267 low-income · For older adults(305) 235-8269
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.
1 program is for Cutler Bay 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 Cutler Bay the same as in the rest of the state.
Miami-Dade County loan of up to $35,000, with no interest or monthly payments, for the down payment of first-time buyers who already live in the county; repaid when you sell, refinance or at the end of the term.Offered by Miami-Dade County Housing and Community Development.
Florida Housing second loan with no interest and no monthly payments, repaid when you sell or refinance.Offered by Florida Housing Finance Corporation.
No legal help resource on our list is for Cutler Bay or Miami-Dade County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Cutler Bay 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 Cutler Bay?
The typical home value in Cutler Bay is $472,700, 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 Cutler Bay?
Typical rent in Cutler Bay is $1,978 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 Cutler Bay?
Cutler Bay 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 Cutler Bay?
The typical homeowner in Cutler Bay pays $4,095 a year, according to the U.S. Census Bureau. That is 0.87% 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 Cutler Bay?
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.
