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City · 12,277 residents · Miami-Dade County, Florida

South Miami , Florida

In South Miami, a typical home is worth $829,400 and typical rent is $1,764 a month. Compared with all of Miami-Dade County, the typical home value is 79% higher, typical household income is 32% higher, and the share of households that own their home is 8 points higher.

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  • Typical home value

    $829,400

    79% above the county

    131% above Florida

    • South Miami
    • Miami-Dade
    • Florida

  • Typical rent

    $1,764a month

    4% below the county

    6% above Florida

    • South Miami
    • Miami-Dade
    • Florida

  • Typical household income

    $94,507a year

    32% above the county

    27% above Florida

    • South Miami
    • Miami-Dade
    • Florida

  • Households that own their home

    60%

    8 points above the county

    7 points below Florida

    • South Miami
    • Miami-Dade
    • Florida

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

South Miami 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 South Miami apart

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

  1. The typical home in South Miami is worth $829,400, 79% more than in Miami-Dade County as a whole ($463,000).

  2. Nearby, in Glenvar Heights, the typical home value is $545,400: 34% less than in South Miami ($829,400).

  3. The typical household income in South Miami is $94,507, 32% more than in Miami-Dade County as a whole ($71,753).

  4. South Miami has the 25th largest share of rent-burdened renters of the 434 cities in Florida with more than 5,000 people (76%).

  5. 60% of households in South Miami own their home, against 52% in Miami-Dade County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in South Miami

What homes there are in South Miami, 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

The detached house rules in South Miami: 52% of homes, more than in Miami-Dade County (39%).

Year built

In South Miami, half of the homes were built before 1969; in Miami-Dade County, before 1980.

There is more room for a big family here: 54% of homes have 3 bedrooms or more, against 45% 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

$3,626 a month

Miami-Dade County: $2,451 a month

Without a mortgage

$911 a month

Miami-Dade County: $815 a month

Owners with a mortgage

56%

Miami-Dade County: 59%

Owning costs more in South Miami: with a mortgage, the typical cost is $3,626 a month; in Miami-Dade County, $2,451. Without one, $911.

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 South Miami rose 46% since 2015–2019, less than in Miami-Dade County (60%).

The typical rent in South Miami rose 32% over the same time; in Miami-Dade County, it rose 38%.

Income in South Miami grew faster than housing: it rose 52%, while home values changed +46% and rent +32%.

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

MeasureSouth MiamiMiami-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 2.602.762.512.53
Drive alone 61%69%70%69%
Carpool 3%9%9%9%
Public transit 7%3%1%3%
Walk or bike 6%3%2%3%
Work from home 22%14%16%15%
Other means Unreliable estimate2%2%2%
Typical commute 20 to 29 minutes30 to 39 minutes20 to 29 minutes20 to 29 minutes

On average, a household in South Miami has 2.60 people, fewer than in Miami-Dade County (2.76).

In South Miami, 22% of workers work from home, more than 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 South Miami?

A typical home costs more than the typical income allows

We start with a typical home in South Miami, worth $829,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 85% of the typical household income in South Miami, which is $94,507 a year. For that payment to be 28% of income, a household would need to earn about $285,631 a year. Note: at that price the loan is above the FHA limit for Miami-Dade County ($667,000), so FHA would not insure it; the payment is only a reference.

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 South Miami. 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 $29,029 (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

$6,665

at 7.18% · 30 years

Loan amount
$814,377
Total interest
$1,171,698
Paid off in
November 2056

Includes $14,006 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,205 a month

  • Tight

    $2,205 to $2,835 a month

  • Hard

    more than $2,835 a month

    Your payment · 85%

Compared with the typical household income in South Miami ($94,507 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$6,665
Principal & interest$5,517
Property tax$435
Home insurance$346
FHA mortgage insurance (MIP)$367

This loan is over the FHA limit

You'd borrow $800,371, but the FHA limit for a one-unit home in South Miami is $667,000. You'd need a bigger down payment or a different loan.

You need at least $29,029 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

South Miami and Miami-Dade County

South Miami 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).

South Miami's own numbers

Typical home value
$829,400
Typical monthly rent
$1,764
Typical yearly household income
$94,507
Households that own their home
60%
Effective property tax rate
0.63%

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 South Miami

A typical home in South Miami is worth $829,400: 79% above the county and 131% above Florida. With the typical household income in South Miami ($94,507 a year), a typical home costs 8.8 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.

  • South Miami 8.8 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

South Miami 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
  • South Miami $829,400
  • Miami-Dade $463,000
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • South Miami $1,764
  • Miami-Dade $1,829
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • South Miami $94,507
  • Miami-Dade $71,753
  • Florida $74,568
  • United States $80,734
See the full table
South Miami next to Miami-Dade County and Florida
Measure South Miami Miami-Dade County Florida U.S.
Typical home value $829,400 $463,000 $359,000 $332,700
Typical monthly rent $1,764 $1,829 $1,669 $1,413
Typical yearly household income $94,507 $71,753 $74,568 $80,734
Households that own their home 60% 52% 68% 65%
Typical yearly property tax $5,243 $3,744 $2,730 $3,119
Effective property tax rate 0.63% 0.81% 0.76% 0.94%
Renters with high rent for their income 76% 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 South Miami

For a typical $829,400 home in South Miami, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, South Miami's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $6,665a month

    Above the FHA limit for Miami-Dade County ($667,000)
    Down payment
    $29,029
    Cash to close
    $53,911
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $367

  • Conventional, 5% down $6,513a month

    Least cash to close
    Down payment
    $41,470
    Cash to close
    $66,352
    Rate
    7.18%
    Mortgage insurance
    PMI · $394

  • Conventional, 20% down, no PMI $5,276a month

    Down payment
    $165,880
    Cash to close
    $190,762
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $6,043a month

    Down payment
    $124,410
    Cash to close
    $149,292
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is Conventional, 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 South Miami and for Miami-Dade County.

Property tax

Effective rate in South Miami

0.63%of the home’s value each year

$5,243 a year for the typical owner in South Miami.

  • South Miami 0.63%
  • 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 South Miami

Typical rent in South Miami is $1,764 a month: 4% below the county. In South Miami, 76% 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 South Miami

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). South Miami is in ZIP code 33143.

For 2 bedrooms it is $2,960: $396 more than the fair market rent for Miami-Dade County ($2,564).

  • 33143 $2,960$3,780

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for South Miami 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?

Low-income apartments

Low-income apartments in South Miami

HUD lists 2 buildings with rents for lower incomes in South Miami. These are the largest.

  • South Miami Plaza 6701 SW 62nd Ave, South Miami 33143 97 low-income homes · 1 bd: 42 · 2 bd: 37 · 3 bd: 8 · In service since 2014 · For older adults, families
  • Metro South Senior 6101 Sunset Dr, South Miami 33143 91 low-income homes · Studio: 15 · 1 bd: 57 · 2 bd: 19 · In service since 2016 · For families

See all 399 buildings in Miami-Dade County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in South Miami

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.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in South Miami

1 program is for South Miami 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 South Miami the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near South Miami

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

  • Real Estate, Education and Community Housing, Inc.

    7875 NW 12th St, Doral · 5 miles away · Spanish

    Also serves in Creole.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 5 more
    (786) 260-6821

  • Cuban American National Council, Inc. - Miami

    1223 SW 4th St, Miami · 7 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    305-642-3484-182

  • Neighborhood Housing Services of South Florida

    300 NW 12th Ave, Miami · 7 miles away · Spanish

    Also serves in Creole.

    • Budget and financial counseling
    • Budget and credit workshops
    • and 6 more
    (305) 751-5511

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

Help in Spanish near South Miami

3 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 South Miami

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

All guides
A father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about South Miami

Short answers with the numbers for South Miami 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 South Miami?

The typical home value in South Miami is $829,400, 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 South Miami?

Typical rent in South Miami is $1,764 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 South Miami?

South Miami 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 South Miami?

The typical homeowner in South Miami pays $5,243 a year, according to the U.S. Census Bureau. That is 0.63% 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 South Miami?

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).