Florida

Home prices in Florida and Miami: median value and trend

Median owner-occupied home value: $396,900 in Florida and $598,200 in Miami (Census ACS 2024). FHFA: Florida prices up 1.0% in a year.

Checked on against the official sources listed at the bottom of the page.

In short

The median value of owner-occupied homes is $396,900 in Florida and $598,200 in the city of Miami, against $360,600 nationwide (Census ACS 2024). On the FHFA index, Florida prices up 1.0% and Miami–Miami Beach–Kendall prices down 0.3% from Q2 2025 to Q2 2026.

What it costs: median value in 2024

AreaMedian value, 2024Margin of error (90%)
United States$360,600±$618
Florida$396,900±$1,617
Miami–Fort Lauderdale–West Palm Beach metro area$510,600±$6,110
Miami-Dade County$547,200±$8,538
City of Miami$598,200±$34,998

Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.

Three points stand out:

  • The Florida median is $36,300 above the national median.
  • The city of Miami sits $201,300 above the Florida median, $51,000 above Miami-Dade County and $87,600 above the three-county metro area. Here the city is the most expensive level, the opposite of many metro areas where the suburbs pull the figure up.
  • The city figure carries a margin of error of ±$34,998, so Miami’s true median is very likely between about $563,200 and $633,200.

How prices have moved: the FHFA index

It is also the first release with purchase-only indexes for metro divisions. The Miami–Fort Lauderdale–West Palm Beach area is split into divisions, and the one that covers Miami-Dade County is Miami–Miami Beach–Kendall.

Area1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
United States+2.1%+33.4%
Florida+1.0%+37.5%
Miami–Miami Beach–Kendall metro division−0.3%+57.4%

Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.

Florida prices rose less than half as fast as the national index over the past year, and Miami-area prices dipped slightly. Over five years the picture is reversed: Florida gained more than the nation, and the Miami division gained more than half its value.

Keep in mind that FHFA measures single-family homes financed by Fannie Mae and Freddie Mac. In Miami, where many owners live in condominiums, the index describes houses better than condo units.

A worked example

Take a Miami-area house worth $600,000 in the second quarter of 2021. Tracking the Miami–Miami Beach–Kendall index exactly, it would have been worth about $944,400 in the second quarter of 2026 (+57.4%). Over the last year alone, it would have lost about $2,500 (−0.3%). A single home can move very differently from the index: location, condition, flood exposure and renovations matter more than the average.

How to use these figures when buying

Closing costs and the documentary stamp tax come on top of the price. Our Florida closing costs guide explains who pays what, and our page on buying a home in Miami applies these numbers to the city, including condo rules and insurance. First-time buyers can also check the Florida first-time buyer programs.

Method and dataset

ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), Florida (0400000US12), Miami–Fort Lauderdale–West Palm Beach metro area (310M700US33100), Miami-Dade County (0500000US12086), Miami city (1600000US1245000). Read through the data.census.gov API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions.

FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Florida), metro series (Miami–Miami Beach–Kendall, FL metro division, code 33124) and U.S. series. Index values used: Florida 542.23 (Q2 2025), 398.23 (Q2 2021) and 547.45 (Q2 2026); Miami–Miami Beach–Kendall 801.21, 507.66 and 799.06; United States 426.58, 326.58 and 435.69.

Frequently asked questions

What is the median home value in Florida?

Florida’s 2024 ACS median home value is $396,900 (±$1,617), against $360,600 for the nation: owners’ own estimates, not sale prices.

What is the median home value in Miami?

For the city of Miami, the 2024 ACS median value is $598,200 (±$34,998). Miami-Dade County is at $547,200 and the Miami–Fort Lauderdale–West Palm Beach metro area at $510,600.

Are Florida home prices going up or down?

FHFA’s purchase-only index shows Florida prices rose 1.0% over the year to Q2 2026, and the Miami–Miami Beach–Kendall area fell 0.3%. Over five years, they rose 37.5% and 57.4%.

How Florida compares with the other States

Florida ranks 18th of 50 for median home value ($396,900), 10% above the national $360,600.

The States closest in median value are Connecticut ($396,900) and Virginia ($403,500). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; Florida is $57,400 above the middle of that ranking (Wyoming).

On the FHFA index, Florida prices rose 1% over the year to the second quarter of 2026, which places the State 39th of 50, 1.1 points behind the national +2.1%. Over five years the gain is +37.5% (23rd of 50; nation +33.4%).

Florida sits in the middle of the pack on at least one of the two measures: 18th for the level, 39th for the one-year change.

Over five years, Florida's +37.5% annualises to +6.6% a year (nation +5.9%). The latest year (+1%) is 5.6 points under that average, a slower pace than the five-year average.

Miami, the main city, has a median of $598,200, 9th of the 49 main cities Payotte covers. That is 51% above the Florida median, a premium that ranks 7th of 49.

The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Florida (+1%) is 7.3 points below the top and 2.2 above the bottom; Maryland (+1%) and Tennessee (+0.9%) are the nearest to it.

For scale, 20% of the Florida median is $79,380, against $72,120 at the national median.

Compare with the other states: Median home price by state.

More Florida guides

Sources

Florida · All states · Federal guides