Miami FHA Loans

Miami-Fort Lauderdale-Pompano Beach, FL

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Miami's 317 lenders originated 23,212 FHA loans during 2021. The total origination value was $6,868,320,000, with an average FHA loan value of $295,895.

Miami FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Miami averaged 5.34% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.48% and one month ago for the week of 2022-07-01, the average rate was 5.77%.

The average rate one year ago was 3.17%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.08%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Miami FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Miami level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
UNITED WHOLESALE MORTGAGE, LLC 1,762 2.75% $11,091
Paramount Residential Mortgage Group, Inc. 1,654 3.24% $12,462
CALIBER HOME LOANS, INC. 1,468 2.85% $10,589
QUICKEN LOANS, LLC 1,313 2.68% $7,731
FREEDOM MORTGAGE CORPORATION 1,091 2.81% $8,114
CROSSCOUNTRY MORTGAGE, LLC 931 3.10% $11,242
PENNYMAC LOAN SERVICES, LLC 621 3.07% $6,526
EAGLE HOME MORTGAGE, LLC 570 3.19% $11,774
Lakeview Community Capital, LLC 542 3.03% $5,774
LOANDEPOT.COM, LLC 437 2.99% $11,712
LAKEVIEW LOAN SERVICING, LLC 433 3.05% $5,896
Mr. Cooper ( Nationstar Mortgage ) 432 3.21% $5,581
NEWREZ LLC 387 2.91% $8,192
HOME POINT FINANCIAL CORPORATION 340 2.79% $11,122
PRIMARY RESIDENTIAL MORTGAGE, INC. 326 3.46% $13,664
COLUMBUS CAPITAL LENDING, LLC 297 3.17% $13,430
HAMILTON HOME LOANS, INC. 296 3.25% $11,323
AMERICAN FINANCIAL NETWORK, INC. 279 3.06% $17,418
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 256 3.10% $11,468
Flagstar Bank, FSB 248 2.87% $10,069
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 247 3.01% $11,026
AMCAP MORTGAGE, LTD. 224 3.16% $13,554
Carrington Mortgage Services, LLC 220 3.33% $11,516
DHI MORTGAGE COMPANY, LTD. 205 2.73% $9,738
NP, Inc. 205 2.88% $11,045
HOME FINANCING CENTER, INC. 153 3.75% $13,326
Equity Prime Mortgage LLC 151 3.20% $10,147
FIRST EQUITY MORTGAGE BANKERS, INC. 144 3.09% $12,305
PLANET HOME LENDING, LLC 141 2.79% $6,694
AmeriHome Mortgage Company, LLC 141 2.95% $5,791
ABSOLUTE HOME MORTGAGE CORPORATION 139 3.06% $10,459
1ST FINANCIAL, INC. 124 3.12% $12,610
GUARANTEED RATE, INC. 119 2.86% $10,564
BROKER SOLUTIONS, INC. 118 2.94% $10,571
VILLAGE CAPITAL & INVESTMENT LLC 112 2.96% $4,015
InterContinental Capital Group, Inc 112 2.84% $9,225
CMG MORTGAGE, INC. 110 3.27% $12,222
HOMEBRIDGE FINANCIAL SERVICES, INC. 108 2.91% $10,688
First Guaranty Mortgage Corporation 107 2.98% $10,190
READY MORTGAGE LENDERS, LLC 105 3.08% $14,597
FBC MORTGAGE, LLC 101 2.98% $11,309
THE MORTGAGE FIRM, INC. 101 3.08% $10,816
Hometown Equity Mortgage, LLC 97 3.21% $12,049
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 95 3.25% $11,748
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 82 2.92% $10,272
PLAZA HOME MORTGAGE, INC. 77 2.82% $13,080
Commerce Home Mortgage, Inc. 64 3.20% $10,355
AMERISAVE MORTGAGE CORPORATION 63 2.98% $9,168
VAN DYK MORTGAGE CORPORATION 59 3.12% $8,939
EVERETT FINANCIAL, INC. 56 3.80% $8,940
AmRes Corporation 55 3.00% $10,891
AMERICAN PACIFIC MORTGAGE CORPORATION 54 3.07% $11,052
OCMBC, INC. 54 2.82% $11,377
FINANCE OF AMERICA MORTGAGE LLC 53 2.69% $12,368
NVR Mortgage Finance, Inc. 53 3.18% $11,431
CAPITAL PARTNERS MORTGAGE, LLC 51 3.24% $11,299
ARK-LA-TEX FINANCIAL SERVICES, LLC. 50 3.15% $10,942
BANKING MORTGAGE SERVICES, B.M.S. CORP. 50 3.04% $12,616
GENEVA FINANCIAL, LLC 48 2.88% $13,492
BAY EQUITY LLC 47 3.13% $13,300
RESIDENTIAL HOME FUNDING CORP. 45 3.22% $12,029
SWBC MORTGAGE CORPORATION 44 3.24% $9,330
CITY FIRST MORTGAGE SERVICES, L.L.C. 44 3.24% $10,937
SUCCESS MORTGAGE PARTNERS, INC. 43 3.24% $11,318
SUN WEST MORTGAGE COMPANY, INC. 42 2.98% $10,799
PANORAMA MORTGAGE GROUP, LLC 36 3.38% $12,415
MID AMERICA MORTGAGE, INC. 34 3.13% $4,668
MOVEMENT MORTGAGE, LLC 33 3.21% $11,295
Regions Bank 32 2.85% $10,480
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 32 3.14% $10,857
HOMESIDE FINANCIAL, LLC 31 3.03% $11,116
GROUP ONE MORTGAGE, INC. 31 2.67% $9,354
CROSSFIRE FINANCIAL NETWORK, INC. 31 2.98% $11,168
Nations Lending Corporation 31 3.11% $10,915
Mortgage Lenders Investment Trading Corporation 30 3.43% $7,725
A&D Mortgage LLC 30 2.92% $14,737
Northpointe Bank 30 2.95% $9,198
The Federal Savings Bank 29 2.84% $11,587
CORNERSTONE HOME LENDING, INC. 28 3.06% $11,128
Ixonia Bank 27 3.34% $12,315
FOUNDATION MORTGAGE CORPORATION 26 3.11% $9,930
ACADEMY MORTGAGE CORPORATION 25 3.24% $11,573
UNION HOME MORTGAGE CORP. 25 2.96% $11,838
MICHIGAN MUTUAL, INC. 25 3.17% $12,383
NATIONS DIRECT MORTGAGE, LLC 24 3.31% $12,435
CELEBRITY HOME LOANS, LLC 24 3.08% $9,932
ARC HOME LLC 23 2.87% $11,883
OCEANSIDE MORTGAGE COMPANY 22 2.65% $4,177
Financial Freedom Mortgage, LLC 22 3.19% $11,176
Bank of America 20 2.93% $8,317
GUARANTEED RATE AFFINITY, LLC 19 2.63% $9,905
LAND HOME FINANCIAL SERVICES, INC. 19 3.59% $13,324
UNITED MORTGAGE CORP. 18 2.99% $11,533
LEADERONE FINANCIAL CORPORATION 18 3.15% $8,921
Advisors Mortgage Group, L.L.C. 17 2.95% $10,884
HighTechLending Inc 17 3.10% $12,199
NATIONS RELIABLE LENDING, LLC 16 3.41% $11,369
TOWNE MORTGAGE COMPANY 16 3.08% $10,846
BECKAM FUNDING CORP. 16 3.29% $15,088
Citizens Bank 16 2.90% $11,433
Plains Commerce Bank 16 2.80% $10,000
NATIONWIDE MORTGAGE BANKERS, INC. 15 3.18% $11,590
BANKERS MORTGAGE LENDING, INC. 15 2.89% $10,367
J. VIRGIL, INC. 15 2.92% $9,159
PARKSIDE LENDING, LLC 15 2.70% $12,607
Bank of England 14 3.41% $13,102
US MORTGAGE CORPORATION 14 3.16% $11,464
STEARNS LENDING, LLC 14 2.85% $12,441
Century Mortgage Company DBA Century Lending Company 13 2.93% $12,038
RESIDENTIAL BANCORP. 13 3.12% $9,956
First Savings Bank 13 3.05% $11,057
Hometown Lenders, Inc. 13 3.20% $11,488
MORIA DEVELOPMENT, INC. 13 3.57% $10,655
Prosperity Home Mortgage, LLC 13 3.33% $11,454
Waterstone Mortgage Corporation 12 3.40% $11,959
FIRST ALLIANCE HOME MORTGAGE, LLC 12 3.13% $10,368
FIRSTBANK PUERTO RICO 12 2.92% $11,391
Christensen Financial, Inc. 12 3.18% $12,993
PULTE MORTGAGE LLC 12 3.17% $8,143
Atlantic Home Loans, Inc. 11 2.88% $11,755
Evolve Bank & Trust 11 2.99% $9,482
MATTAMY HOME FUNDING, LLC 11 2.76% $12,186
PRIMELENDING, A PLAINSCAPITAL COMPANY 10 3.34% $10,082
LENDUS, LLC 10 3.08% $11,373
JPMorgan Chase Bank 10 3.00% $7,178
ROUNDPOINT MORTGAGE SERVICING CORPORATION 10 3.19% $11,152
MUTUAL OF OMAHA MORTGAGE, INC. 10 3.04% $9,380
FAMILY FIRST FUNDING LLC 9 2.79% $11,557
SPACE COAST Credit Union 9 2.99% $9,056
JMAC LENDING, INC. 9 3.04% $10,389
Synovus Bank 9 3.10% $10,393
TD Bank 9 2.85% $7,202
TOP FLITE FINANCIAL, INC. 9 3.13% $17,505
TruHome Solutions, LLC 9 3.07% $8,512
U.S. Bank 9 2.71% $10,498
ALLIED MORTGAGE GROUP, INC. 9 2.99% $11,749
SOVEREIGN LENDING GROUP INCORPORATED 9 2.69% $10,904
Magnolia Bank 9 2.81% $11,868
ZILLOW HOME LOANS, LLC 8 2.48% $11,344
AMERICAN FINANCING CORPORATION 8 2.70% $8,273
GUILD MORTGAGE COMPANY 8 3.08% $10,233
HOMESPIRE MORTGAGE CORPORATION 8 2.95% $10,596
KELLER MORTGAGE, LLC 8 2.52% $9,222
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 3.28% $14,853
South State Bank 8 2.73% $10,128
T2 FINANCIAL LLC 8 3.22% $11,441
Valley National Bank 8 3.06% $9,632
RELIANCE FIRST CAPITAL, LLC 7 2.77% $14,398
TOTAL MORTGAGE SERVICES, LLC 7 3.50% $11,638
CONTOUR MORTGAGE CORPORATION 7 3.18% $12,050
TJC Mortgage, Inc. 7 3.02% $9,591
CHURCHILL MORTGAGE CORPORATION 7 2.98% $11,318
Truist Bank 7 3.23% $8,656
Colten Mortgage, LLC 7 2.95% $5,473
First Federal Bank 7 3.07% $12,809
OPEN MORTGAGE, LLC 7 2.66% $11,817
ENVOY MORTGAGE, LTD 7 3.05% $9,970
Ameris Bank 6 2.77% $10,631
Strong Home Mortgage, LLC 6 2.88% $6,468
Princeton Mortgage Corporation 6 2.88% $10,559
First Home Bank 6 2.92% $11,400
PNC Bank 6 2.71% $7,857
LOANLEADERS OF AMERICA, INC. 6 2.92% $14,926
Wyndham Capital Mortgage, Inc. 6 2.60% $7,573
Barrington Bank & Trust Company, N.A. 6 3.13% $8,251
EMM LOANS LLC 6 3.08% $9,862
LIBERTY HOME MORTGAGE CORPORATION 5 3.05% $11,339
Mortgage Research Center, LLC 5 3.17% $9,923
NFM, INC. 5 3.10% $10,841
Neighborhood Loans, Inc. 5 2.95% $10,949
EMBRACE HOME LOANS, INC. 5 3.07% $9,611
UNITED SECURITY FINANCIAL CORP 5 3.68% $13,626
Trust Mortgage Lending 5 2.98% $13,675
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 3.30% $10,506
First Horizon Bank 5 2.95% $10,231
DAS Acquisition Company, LLC 5 3.05% $9,332
Wells Fargo Bank 5 3.13% $9,603
SECURITYNATIONAL MORTGAGE COMPANY 5 2.93% $11,458
Manufacturers and Traders Trust Company 5 2.73% $7,319
AMERICAN FINANCIAL RESOURCES, INC. 5 3.20% $10,596
MILEND, INC. 5 2.90% $11,495
Peoples Bank 5 3.25% $8,707
Colonial Savings, F.A. 5 3.28% $7,870
MORTGAGE EQUITY PARTNERS LLC 5 3.18% $10,749
RADIUS FINANCIAL GROUP INC. 4 2.78% $9,450
MEGA CAPITAL FUNDING, INC. 4 2.81% $13,795
Quontic Bank 4 3.00% $10,920
Home Mortgage Alliance Corp 4 3.09% $9,837
INTELLILOAN, INC. 4 3.16% $7,334
ANGEL OAK HOME LOANS LLC 4 2.75% $11,072
STOCKTON MORTGAGE CORPORATION 4 2.88% $8,933
LADERA LENDING, INC. 4 3.16% $8,287
Sierra Pacific Mortgage Company, Inc. 4 3.13% $9,653
First Option Mortgage, LLC 4 3.09% $10,040
BETTER MORTGAGE CORPORATION 4 2.66% $9,772
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 3.13% $13,440
Fifth Third Bank 4 2.94% $11,358
HANCOCK MORTGAGE PARTNERS, LLC 4 3.47% $14,219
BEST CAPITAL FUNDING 4 2.72% $13,391
GREENTREE MORTGAGE COMPANY, L.P. 3 2.96% $9,481
GREAT WESTERN FINANCIAL SERVICES, INC. 3 2.83% $10,913
KS StateBank 3 2.67% $9,143
LENDING 3, INC. 3 2.92% $8,756
MCLEAN MORTGAGE CORPORATION 3 3.17% $9,018
FIDELITY FUNDING MORTGAGE CORP. 3 2.96% $8,539
FAY SERVICING, LLC 3 3.17% $8,129
East Coast Capital Corp. 3 2.75% $10,917
NETWORK CAPITAL FUNDING CORPORATION 3 2.79% $13,023
North American Savings Bank, F.S.B. 3 2.58% $8,779
CityWorth Mortgage LLC 3 2.96% $9,836
PHH Mortgage Corporation 3 3.04% $5,656
PREFERRED LENDING SERVICES, LLC 3 3.46% $9,028
Blue Ridge Bank 3 3.00% $10,489
Residential Mortgage Solutions, Inc. 3 2.83% $7,080
BEST FINANCE CAPITAL, INC. 3 3.67% $11,287
BAYSHORE MORTGAGE FUNDING, LLC 3 3.13% $10,773
UNITED NORTHERN MORTGAGE BANKERS LIMITED 3 3.04% $10,789
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 2 3.69% $14,270
SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 3.25% $10,797
FAIRWAY FUNDING GROUP, INC. 2 2.69% $8,923
CLEARPATH LENDING 2 2.75% $9,024
VERITAS FUNDING, LLC 2 2.31% $14,156
Platinum Home Mortgage Corporation 2 3.25% $19,472
Acre Mortgage and Financial Inc 2 2.69% $13,000
CALCULATED RISK ANALYTICS LLC 2 3.13% $14,518
Amerifirst Financial, Inc. 2 3.25% $7,751
FIRST HOME MORTGAGE CORPORATION 2 3.50% $10,570
CIS Financial Services, Inc. 2 2.88% $8,367
AMERIFIRST FINANCIAL CORPORATION 2 3.88% $10,579
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 2 3.13% $17,980
MLB RESIDENTIAL LENDING, LLC 2 3.06% $9,544
MLD MORTGAGE INC. 2 2.75% $10,629
CERTAINTY HOME LOANS, LLC 2 2.94% $8,757
NORTHERN MORTGAGE SERVICES, LLC 2 3.00% $8,759
Centennial Bank 2 2.50% $10,769
ROYAL UNITED MORTGAGE LLC 2 2.50% $12,156
RUOFF MORTGAGE COMPANY, INC. 2 3.31% $7,224
S1L, Inc. 2 3.25% $14,355
DG PINNACLE FUNDING LLC 2 3.06% $9,367
Loan Simple, Inc. 2 4.25% $11,471
VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.25% $12,173
Paramount Bank 2 3.06% $8,812
ASPIRE FINANCIAL, INC. 2 2.25% $8,740
NEXERA HOLDING LLC 2 3.06% $9,328
The Home Loan Expert LLC 2 2.75% $11,286
AHL FUNDING 2 3.25% $17,027
GMFS LLC 1 2.50% $15,018
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 2.63% $12,448
RESOURCE FINANCIAL SERVICES, INC. 1 2.38% $7,747
FirstBank 1 3.88% $8,761
Shamrock Home Loans, Inc. 1 2.50% $9,718
LOANPAL, LLC 1 3.13% $15,345
SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.25% $10,039
LOANFLIGHT LENDING, LLC 1 2.38% $7,290
SOUTHWEST FUNDING, LP 1 3.50% $9,123
Bethpage Federal Credit Union 1 3.25% $3,436
Lend Smart Mortgage, LLC 1 2.38% $9,648
First Mortgage Solutions, LLC 1 2.49% $4,172
GREENWAY MORTGAGE FUNDING CORP. 1 4.25% $12,290
Summit Mortgage Corporation 1 3.25% $10,665
Watermark Capital, Inc. 1 2.38% $7,495
Atlantic Coast Mortgage, LLC 1 2.75% $7,773
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.13% $22,001
FLAT BRANCH MORTGAGE, INC. 1 3.13% $10,751
TBI MORTGAGE COMPANY 1 3.00% $15,039
ASSOCIATED MORTGAGE BANKERS, INC. 1 3.25% $16,348
THE EQUITABLE MORTGAGE CORPORATION 1 2.75% $10,366
THE MONEY HOUSE INC. 1 2.50% $11,634
APEX HOME LOANS, INC. 1 2.50% $8,243
The Union Bank Company 1 2.63% $19,718
F&M Bank 1 2.25% $7,812
Gateway First Bank 1 2.63% $13,603
JET DIRECT FUNDING CORP 1 2.38% $12,043
JAMES B. NUTTER & COMPANY 1 3.13% $5,238
Town Square Mortgage & Investments, Inc. 1 3.00% $17,868
George Mason Mortgage, LLC 1 2.25% $12,888
INTERSTATE HOME LOAN CENTER, INC. 1 2.63% $8,813
HOME SOLUTION LENDERS INC. 1 2.88% $5,851
GET A RATE LLC 1 3.00% $12,357
AMERICAN MORTGAGE SERVICE COMPANY 1 2.38% $9,260
Alcova Mortgage LLC 1 3.00% $11,446
NATION ONE MORTGAGE CORPORATION 1 3.63% $10,561
1st Constitution Bank 1 2.38% $10,596
DREW MORTGAGE ASSOCIATES, INC. 1 3.13% $13,036
ENDEAVOR CAPITAL, LLC. 1 3.50% $13,376
Network Funding, L.P. 1 2.63% $8,506
DATA MORTGAGE, INC. 1 2.75% $11,303
ACOPIA, LLC 1 3.25% $18,106
INTERCOASTAL MORTGAGE COMPANY 1 2.75% $11,976
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.50% $11,602
NORWICH COMMERCIAL GROUP, INC. 1 3.75% $9,744
Credence Funding Corporation 1 2.75% $5,761
MORTGAGE INVESTORS GROUP, INC. 1 2.63% $10,006
OAKTREE FUNDING CORP. 1 2.75% $16,663
COMPASS MORTGAGE, INC. 1 3.25% $8,722
MORTGAGE 1 INCORPORATED 1 3.13% $13,037
ML Mortgage Corp. 1 2.75% $10,187
CLIFFCO, INC. 1 2.88% $8,484
Victorian Finance, LLC 1 3.13% $10,399
Pinnacle Bank 1 2.25% $9,287
City National Bank of Florida 1 2.50% $8,012
Citibank 1 3.50% $8,036
POLARIS HOME FUNDING CORP. 1 3.13% $10,427
Poli Mortgage Group, Inc. 1 2.38% $10,352
INLANTA MORTGAGE, INC. 1 2.38% $7,283
PREMIA MORTGAGE, LLC 1 2.63% $9,662
CIBC Bank USA 1 2.50% $10,337
Prime Choice Funding Inc. 1 3.25% $7,572
MID-ISLAND MORTGAGE CORP. 1 3.00% $11,469
Meridian Bank Corporation 1 2.50% $8,843
Chickasaw Community Bank 1 2.50% $11,308
MEGASTAR FINANCIAL CORP. 1 2.25% $10,217
CBM Mortgage, Inc. 1 2.50% $7,496
Capital City Home Loans, LLC 1 3.13% $11,034
MDE Home Loans, LLC 1 2.38% $11,719
Renasant Bank 1 3.63% $8,483
HOME FUNDING CORPORATION 1 3.00% $12,033

The top Miami FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,762 FHA loans originated. Their average total fees are $11,091, which is $1,371 lower than the next largest lender, Paramount Residential Mortgage Group, Inc..

The lowest fee Miami FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($4,015), OCEANSIDE MORTGAGE COMPANY ($4,177), MID AMERICA MORTGAGE, INC. ($4,668), Mr. Cooper ( Nationstar Mortgage ) ($5,581) and Lakeview Community Capital, LLC ($5,774).

The lowest rate Miami FHA lenders (with over 10 loans originated) are GUARANTEED RATE AFFINITY, LLC (2.63%), OCEANSIDE MORTGAGE COMPANY (2.65%), GROUP ONE MORTGAGE, INC. (2.67%), QUICKEN LOANS, LLC (2.68%) and FINANCE OF AMERICA MORTGAGE LLC (2.69%).

Miami FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL BROWARD 2022 $460,000 $588,850 $711,800 $884,600
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL MIAMI-DADE 2022 $460,000 $588,850 $711,800 $884,600
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL PALM BEACH 2022 $460,000 $588,850 $711,800 $884,600

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $396,156 (4.3%) $918,614 (2.8%) 1.46 47,888
2018-02-01 $395,000 (3.4%) $918,452 (2.8%) 1.42 48,934
2018-03-01 $398,000 (2.3%) $919,255 (2.2%) 1.38 49,490
2018-04-01 $399,000 (2.3%) $919,912 (0.6%) 1.34 49,075
2018-05-01 $399,700 (1.2%) $916,176 (-0.2%) 1.33 48,034
2018-06-01 $399,999 (2.6%) $911,815 (0.5%) 1.33 47,153
2018-07-01 $399,900 (0.2%) $905,816 (0.6%) 1.33 46,869
2018-08-01 $399,250 (0.6%) $898,559 (0.0%) 1.33 46,483
2018-09-01 $399,000 (0.5%) $896,427 (-0.8%) 1.33 46,852
2018-10-01 $399,000 (1.0%) $903,016 (0.3%) 1.33 48,425
2018-11-01 $398,000 (0.3%) $908,836 (0.4%) 1.33 50,373
2018-12-01 $395,000 (0.0%) $917,567 (0.5%) 1.35 51,461
2019-01-01 $395,000 (-0.3%) $919,360 (0.1%) 1.36 52,278
2019-02-01 $395,000 (0.0%) $923,299 (0.5%) 1.32 54,082
2019-03-01 $398,285 (0.1%) $930,975 (1.3%) 1.30 53,304
2019-04-01 $400,000 (0.3%) $942,457 (2.5%) 1.26 51,880
2019-05-01 $409,500 (2.5%) $946,388 (3.3%) 1.26 50,393
2019-06-01 $410,000 (2.5%) $940,863 (3.2%) 1.26 48,676
2019-07-01 $410,000 (2.5%) $927,931 (2.4%) 1.27 47,062
2019-08-01 $406,996 (1.9%) $927,093 (3.2%) 1.28 45,954
2019-09-01 $402,199 (0.8%) $932,917 (4.1%) 1.28 45,034
2019-10-01 $409,950 (2.7%) $950,708 (5.3%) 1.31 45,856
2019-11-01 $411,648 (3.4%) $976,683 (7.5%) 1.33 46,837
2019-12-01 $411,328 (4.1%) $1,000,574 (9.1%) 1.37 46,952
2020-01-01 $411,000 (4.1%) $1,011,537 (10.0%) 1.37 45,959
2020-02-01 $415,000 (5.1%) $1,015,586 (10.0%) 1.34 46,345
2020-03-01 $417,420 (4.8%) $1,019,233 (9.5%) 1.30 46,202
2020-04-01 $399,450 (-0.1%) $971,050 (3.0%) 1.24 45,487
2020-05-01 $399,000 (-2.6%) $969,464 (2.4%) 1.21 44,864
2020-06-01 $402,500 (-1.8%) $987,712 (5.0%) 1.18 43,617
2020-07-01 $410,000 (0.0%) $1,007,234 (8.6%) 1.17 41,127
2020-08-01 $410,000 (0.7%) $1,012,514 (9.2%) 1.17 39,893
2020-09-01 $419,000 (4.2%) $1,041,235 (11.6%) 1.20 38,783
2020-10-01 $419,900 (2.4%) $1,053,210 (10.8%) 1.20 38,193
2020-11-01 $415,000 (0.8%) $1,047,388 (7.2%) 1.19 37,904
2020-12-01 $415,000 (0.9%) $1,058,106 (5.8%) 1.22 36,745
2021-01-01 $400,000 (-2.7%) $1,048,760 (3.7%) 1.18 34,030
2021-02-01 $399,000 (-3.9%) $1,063,442 (4.7%) 1.15 30,964
2021-03-01 $399,750 (-4.2%) $1,089,053 (6.9%) 1.12 27,219
2021-04-01 $417,450 (4.5%) $1,103,545 (13.6%) 1.12 24,319
2021-05-01 $430,000 (7.8%) $1,158,702 (19.5%) 1.13 21,962
2021-06-01 $449,750 (11.7%) $1,207,559 (22.3%) 1.17 20,816
2021-07-01 $458,950 (11.9%) $1,201,378 (19.3%) 1.19 21,067
2021-08-01 $462,450 (12.8%) $1,216,657 (20.2%) 1.22 20,996
2021-09-01 $472,400 (12.7%) $1,250,256 (20.1%) 1.24 20,451
2021-10-01 $480,000 (14.3%) $1,301,294 (23.6%) 1.26 19,637
2021-11-01 $487,000 (17.4%) $1,364,494 (30.3%) 1.28 18,469
2021-12-01 $495,000 (19.3%) $1,400,791 (32.4%) 1.32 17,232
2022-01-01 $499,000 (24.8%) $1,460,755 (39.3%) 1.33 15,526
2022-02-01 $525,000 (31.6%) $1,575,652 (48.2%) 1.34 13,704
2022-03-01 $547,500 (37.0%) $1,660,175 (52.4%) 1.35 13,191
2022-04-01 $585,000 (40.1%) $1,706,391 (54.6%) 1.38 12,994
2022-05-01 $627,450 (45.9%) $1,708,104 (47.4%) 1.40 14,902
2022-06-01 $630,000 (40.1%) $1,602,030 (32.7%) 1.40 17,515
Miami's median listing price for 2022-06-01 was $630,000, a difference of $180,250 (40.1%) versus the prior year and $2,550 versus the prior month.

Miami's median listing price comes in at 140% of the national average.

Miami's average listing price for 2022-06-01 was $1,602,030, a difference of $394,471 (32.7%) versus the prior year and $-106,074 versus the prior month.

For the 2022-06-01 period, Miami had 17,515 MLS listings, a difference of 2,613 listings (18%) versus the prior month and -3,301 listings (-16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 90 days 1,508 sqft
2018-02-01 88 days 1,510 sqft
2018-03-01 82 days 1,511 sqft
2018-04-01 83 days 1,520 sqft
2018-05-01 86 days 1,521 sqft
2018-06-01 89 days 1,529 sqft
2018-07-01 92 days 1,529 sqft
2018-08-01 93 days 1,526 sqft
2018-09-01 93 days 1,522 sqft
2018-10-01 89 days 1,520 sqft
2018-11-01 87 days 1,524 sqft
2018-12-01 88 days 1,522 sqft
2019-01-01 93 days 1,520 sqft
2019-02-01 92 days 1,523 sqft
2019-03-01 87 days 1,531 sqft
2019-04-01 85 days 1,543 sqft
2019-05-01 90 days 1,549 sqft
2019-06-01 93 days 1,550 sqft
2019-07-01 96 days 1,548 sqft
2019-08-01 98 days 1,541 sqft
2019-09-01 99 days 1,532 sqft
2019-10-01 94 days 1,530 sqft
2019-11-01 91 days 1,530 sqft
2019-12-01 88 days 1,522 sqft
2020-01-01 92 days 1,520 sqft
2020-02-01 89 days 1,508 sqft
2020-03-01 84 days 1,504 sqft
2020-04-01 90 days 1,485 sqft
2020-05-01 103 days 1,477 sqft
2020-06-01 113 days 1,457 sqft
2020-07-01 118 days 1,426 sqft
2020-08-01 92 days 1,409 sqft
2020-09-01 92 days 1,389 sqft
2020-10-01 91 days 1,385 sqft
2020-11-01 91 days 1,380 sqft
2020-12-01 91 days 1,368 sqft
2021-01-01 94 days 1,345 sqft
2021-02-01 88 days 1,306 sqft
2021-03-01 76 days 1,296 sqft
2021-04-01 71 days 1,304 sqft
2021-05-01 65 days 1,318 sqft
2021-06-01 60 days 1,348 sqft
2021-07-01 58 days 1,369 sqft
2021-08-01 58 days 1,373 sqft
2021-09-01 59 days 1,377 sqft
2021-10-01 59 days 1,383 sqft
2021-11-01 59 days 1,383 sqft
2021-12-01 60 days 1,376 sqft
2022-01-01 65 days 1,366 sqft
2022-02-01 54 days 1,375 sqft
2022-03-01 43 days 1,395 sqft
2022-04-01 43 days 1,442 sqft
2022-05-01 37 days 1,496 sqft
2022-06-01 38 days 1,507 sqft
Miami's median listing age (time on market) for 2022-06-01 was 38 days. This is -36% shorter than the same period one year ago.

Miami's median square footage for active listings during the 2022-06-01 period was 1,507 sqft. One year prior, the average listing was 1,348 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).