Miami FHA Loan Rates, Closing Costs & Stats

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 267 lenders originated 11,504 FHA loans during 2023. The total origination value was $4,566,870,000, with an average FHA loan value of $396,981.

Miami FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Miami averaged 6.79% for the week of 2024-05-10, compared to the national average (all FHA variants) of 6.786% for the same period.

Miami's average FHA mortgage closing costs are $11,450.

The average rate for the prior week (2024-05-03) was 6.78% and one month ago for the week of 2024-04-05, the average rate was 6.97%.

The average rate one year ago was 6.68%.

For refis of the same type during the week of 2024-05-10, the average rate was 7.18%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Miami level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 2,750 6.36% $18,077
QUICKEN LOANS, LLC 827 6.11% $16,222
Paramount Residential Mortgage Group, Inc. 661 6.67% $19,980
EAGLE HOME MORTGAGE, LLC 603 5.40% $15,662
CROSSCOUNTRY MORTGAGE, LLC 392 6.75% $17,658
FREEDOM MORTGAGE CORPORATION 279 6.65% $19,254
LOANDEPOT.COM, LLC 212 6.38% $16,352
PENNYMAC LOAN SERVICES, LLC 205 6.19% $19,564
CARDINAL FINANCIAL 193 6.48% $18,646
NEWREZ LLC 190 6.35% $18,327
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 161 6.59% $17,799
Flagstar Bank, FSB 159 6.52% $17,444
PRIMARY RESIDENTIAL MORTGAGE, INC. 144 6.90% $22,338
MY MORTGAGE, INC. 142 6.92% $20,047
Sierra Pacific Mortgage Company, Inc. 141 6.38% $19,140
EVERETT FINANCIAL, INC. 113 6.86% $18,047
AMCAP MORTGAGE, LTD. 113 6.97% $22,833
PLAZA HOME MORTGAGE, INC. 103 6.37% $20,535
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 96 6.60% $17,565
HOMESIDE FINANCIAL, LLC 95 6.58% $19,540
ABSOLUTE HOME MORTGAGE CORPORATION 93 6.51% $19,425
AMERICAN FINANCIAL NETWORK, INC. 88 6.76% $17,801
AMERICAN PACIFIC MORTGAGE CORPORATION 82 6.57% $18,334
1ST FINANCIAL, INC. 81 6.88% $22,967
DHI MORTGAGE COMPANY, LTD. 75 5.23% $11,787
READY MORTGAGE LENDERS, LLC 73 6.83% $21,921
Century Mortgage Company DBA Century Lending Company 72 6.29% $19,226
Plains Commerce Bank 72 6.37% $19,673
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 67 6.50% $16,392
Equity Prime Mortgage LLC 66 6.54% $19,746
GUARANTEED RATE, INC. 66 6.48% $17,719
SUN WEST MORTGAGE COMPANY, INC. 62 6.40% $19,186
CALIBER HOME LOANS, INC. 61 6.21% $17,575
Mr. Cooper ( Nationstar Mortgage ) 60 6.02% $20,431
NATIONWIDE MORTGAGE BANKERS, INC. 58 6.66% $18,624
BROKER SOLUTIONS, INC. 57 6.58% $16,009
GENEVA FINANCIAL, LLC 56 6.88% $22,555
MOVEMENT MORTGAGE, LLC 55 6.51% $17,024
Regions Bank 54 5.76% $14,614
Carrington Mortgage Services, LLC 50 6.21% $18,009
NFM, INC. 49 6.01% $16,960
AMERISAVE MORTGAGE CORPORATION 44 5.85% $19,373
THE MORTGAGE FIRM, INC. 42 6.60% $16,375
ARK-LA-TEX FINANCIAL SERVICES, LLC. 40 6.45% $18,210
FBC MORTGAGE, LLC 40 6.47% $17,915
Hometown Equity Mortgage, LLC 39 6.54% $20,881
Cornerstone First Mortgage, Inc 37 6.86% $18,594
CMG MORTGAGE, INC. 37 6.76% $18,545
FIRST EQUITY MORTGAGE BANKERS, INC. 37 6.77% $17,274
HOME FINANCING CENTER, INC. 34 7.48% $26,574
HOMEBRIDGE FINANCIAL SERVICES, INC. 32 6.60% $19,633
MUTUAL OF OMAHA MORTGAGE, INC. 32 6.38% $19,044
NP, Inc. 31 6.85% $16,612
DG PINNACLE FUNDING LLC 31 6.68% $19,372
OCMBC, INC. 30 6.80% $19,686
NVR Mortgage Finance, Inc. 30 6.40% $9,444
MICHIGAN MUTUAL, INC. 28 6.11% $18,669
POINT Mortgage 27 6.67% $15,818
Premium Mortgage Corporation 26 6.30% $21,244
VILLAGE CAPITAL MORTGAGE 26 6.11% $14,528
VAN DYK MORTGAGE CORPORATION 25 7.01% $11,996
PLANET HOME LENDING, LLC 25 6.07% $13,182
Lakeview Community Capital, LLC 24 6.03% $16,397
TOWNE MORTGAGE COMPANY 24 6.41% $19,564
AMERICAN PORTFOLIO MORTGAGE CORPORATION 24 6.28% $18,914
BECKAM FUNDING CORP. 21 7.15% $28,096
PULTE MORTGAGE LLC 20 6.21% $11,185
JPMorgan Chase Bank 20 6.52% $10,005
AMERICAN BANCSHARES MORTGAGE 20 6.46% $15,654
GUARANTEED RATE AFFINITY, LLC 20 6.25% $17,040
SWBC MORTGAGE CORPORATION 19 6.69% $14,337
FIRST ALLIANCE HOME MORTGAGE, LLC 19 6.53% $19,809
Northpointe Bank 19 6.47% $17,705
PRIMELENDING, A PLAINSCAPITAL COMPANY 17 6.50% $18,232
Citizens Bank 17 5.95% $16,679
Waterstone Mortgage Corporation 16 6.84% $16,793
LOANPAL, LLC 15 5.78% $16,987
BANKING MORTGAGE SERVICES, B.M.S. CORP. 15 6.92% $19,968
AMERICAN FINANCIAL RESOURCES, INC. 15 6.46% $17,238
NETWORK CAPITAL FUNDING CORPORATION 14 6.16% $16,791
RELIANCE FIRST CAPITAL, LLC 13 6.38% $18,393
PANORAMA MORTGAGE GROUP, LLC 13 7.14% $16,557
City National Bank of Florida 12 6.03% $15,080
The Federal Savings Bank 12 6.31% $18,431
NATIONS DIRECT MORTGAGE, LLC 12 6.55% $21,194
AmeriHome Mortgage Company, LLC 12 5.80% $16,859
ZILLOW HOME LOANS, LLC 12 5.89% $15,329
AHL FUNDING 11 6.86% $25,953
ALLIED MORTGAGE GROUP, INC. 11 6.57% $16,448
Ixonia Bank 11 6.92% $17,287
GEO-CORP, INC. 11 7.32% $25,748
Truist 10 5.75% $12,577
MILEND, INC. 10 6.28% $19,820
MID AMERICA MORTGAGE, INC. 10 6.80% $11,374
TIDEWATER MORTGAGE SERVICES, INC. 10 6.99% $17,346
PENTAGON FEDERAL CREDIT UNION 10 5.74% $13,209
EMM LOANS LLC 10 6.15% $15,248
CONTOUR MORTGAGE CORPORATION 10 6.21% $17,865
Prosperity Home Mortgage, LLC 10 6.15% $17,602
BAY EQUITY LLC 9 6.65% $14,432
MORTGAGE EQUITY PARTNERS LLC 9 7.13% $22,995
ACADEMY MORTGAGE CORPORATION 9 6.51% $17,985
A&D Mortgage LLC 9 6.40% $24,505
NORWICH COMMERCIAL GROUP, INC. 9 6.57% $16,329
LADERA LENDING, INC. 8 5.89% $16,241
TOTAL MORTGAGE SERVICES, LLC 8 6.55% $19,423
BETTER MORTGAGE CORPORATION 8 6.16% $15,491
LAKEVIEW LOAN SERVICING, LLC 8 5.92% $17,008
Wells Fargo Bank 8 5.97% $13,369
CROSSFIRE FINANCIAL NETWORK, INC. 7 6.80% $19,343
ARC HOME LLC 7 6.34% $23,030
BELEM SERVICING LLC 7 6.52% $20,406
PHH Mortgage Corporation 7 6.52% $14,232
RADIUS FINANCIAL GROUP INC. 7 6.70% $15,766
T2 FINANCIAL LLC 7 6.55% $18,080
TOP FLITE FINANCIAL, INC. 6 6.90% $17,354
Mortgage Research Center, LLC 6 6.46% $9,564
SUCCESS MORTGAGE PARTNERS, INC. 6 6.75% $17,088
NBKC BANK 6 5.52% $13,039
Bank of England 6 7.04% $14,868
US MORTGAGE CORPORATION 6 6.52% $18,490
Valley National Bank 6 6.35% $12,298
SECURITYNATIONAL MORTGAGE COMPANY 6 6.25% $14,938
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.13% $24,107
AXIA FINANCIAL, LLC 6 6.08% $18,959
1ST 2ND MORTGAGE COMPANY OF N.J., INC. 6 6.25% $18,569
Nations Lending Corporation 6 6.52% $17,128
JMAC LENDING, INC. 5 6.60% $15,783
J. VIRGIL, INC. 5 6.50% $16,214
LEADERONE FINANCIAL CORPORATION 5 6.50% $15,963
Loan Simple, Inc. 5 6.60% $20,118
U.S. Bank 5 6.43% $14,933
First Horizon Bank 5 6.48% $11,420
Mortgage Lenders Investment Trading Corporation 5 6.70% $10,810
UNION HOME MORTGAGE CORP. 5 6.65% $16,947
UNITED NORTHERN MORTGAGE BANKERS LIMITED 5 6.68% $23,024
East Coast Capital Corp. 5 6.75% $14,512
BAYSHORE MORTGAGE FUNDING, LLC 5 6.68% $19,549
RESIDENTIAL BANCORP 4 6.34% $19,733
Ameris Bank 4 6.34% $17,711
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 6.44% $15,097
TruHome Solutions, LLC 4 6.25% $13,355
HOMESPIRE MORTGAGE CORPORATION 4 6.59% $10,852
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 4 6.44% $22,851
VERITAS FUNDING, LLC 4 6.47% $23,888
AMERICAN FINANCING CORPORATION 4 6.22% $16,599
FIRSTBANK PUERTO RICO 4 5.69% $15,118
First Savings Bank 4 5.72% $21,376
LAND HOME FINANCIAL SERVICES, INC. 4 6.84% $14,508
South State Bank 4 6.94% $15,090
Centennial Bank 4 6.69% $13,075
Bank of America 4 6.38% $9,721
Synovus Bank 4 6.19% $12,025
Keystone Funding, Inc. 4 6.53% $15,252
PNC Bank 4 6.69% $11,328
TD Bank 4 6.34% $11,722
The Loan Store, Inc. 4 6.53% $27,771
LOANLEADERS OF AMERICA, INC. 4 6.50% $22,278
Performance Financial, Inc. 3 6.00% $21,205
CALCON MUTUAL MORTGAGE LLC 3 7.73% $22,611
BOND STREET MORTGAGE, LLC 3 6.67% $16,678
GoPrime Mortgage, Inc. 3 6.25% $12,419
ROYAL UNITED MORTGAGE LLC 3 6.79% $17,985
HOMESTAR FINANCIAL CORPORATION 3 6.29% $15,677
M&T Bank 3 6.54% $13,524
Strong Home Mortgage, LLC 3 5.91% $13,311
ACOPIA, LLC 3 7.33% $17,267
INTELLILOAN, INC. 3 6.38% $15,292
INTERSTATE HOME LOAN CENTER, INC. 3 6.12% $22,332
First Option Mortgage, LLC 3 7.17% $21,193
Arvest Bank 3 6.63% $10,778
AmRes Corporation 3 6.92% $22,565
EMBRACE HOME LOANS, INC. 3 6.25% $15,289
Town Square Mortgage & Investments, Inc. 3 6.33% $13,687
UNITED SECURITY FINANCIAL CORP 3 6.67% $16,476
NJ LENDERS CORP. 3 6.50% $17,536
American Mortgage & Equity Consultants, Inc. 3 6.88% $13,475
GUILD MORTGAGE COMPANY 3 7.33% $14,631
HighTechLending Inc 3 6.67% $17,192
FM Home Loans, LLC 3 6.63% $13,420
HOMEOWNERS FINANCIAL GROUP USA, LLC 3 6.54% $17,771
TJC Mortgage, Inc. 2 6.13% $14,290
LIBERTY HOME MORTGAGE CORPORATION 2 6.38% $25,574
Franklin Loan Corporation 2 6.06% $17,184
OCEANSIDE MORTGAGE COMPANY 2 5.88% $13,535
STOCKTON MORTGAGE CORPORATION 2 7.00% $16,481
ONY GLO, INC. 2 5.75% $32,303
COMPASS MORTGAGE, INC. 2 6.75% $12,857
Commerce Home Mortgage, Inc. 2 6.44% $20,023
CityWorth Mortgage LLC 2 5.19% $27,393
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.69% $21,023
PREMIA MORTGAGE, LLC 2 6.38% $9,597
Capital City Home Loans, LLC 2 5.94% $15,909
HOMEXPRESS MORTGAGE CORP. 2 7.44% $15,032
HOME FUNDING CORPORATION 2 5.69% $24,616
CIBM Bank 2 7.44% $14,710
FIRST MORTGAGE COMPANY, INC. 2 6.50% $11,650
Bell Bank 2 5.75% $9,075
Advisors Mortgage Group, L.L.C. 2 6.50% $16,303
North American Savings Bank, F.S.B. 2 5.13% $13,831
First Federal Bank 2 6.63% $14,360
DELMAR FINANCIAL COMPANY 2 6.56% $12,041
GREENWAY MORTGAGE FUNDING CORP. 1 7.38% $12,055
GREENTREE MORTGAGE COMPANY, L.P. 1 7.63% $21,754
Goldwater Bank, N.A. 1 6.75% $11,466
Gateway First Bank 1 6.75% $14,583
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 5.63% $25,964
KELLER MORTGAGE, LLC 1 5.25% $19,934
KeyBank 1 5.88% $26,717
FLAT BRANCH MORTGAGE, INC. 1 6.25% $10,910
FIRST SAVINGS MORTGAGE CORPORATION 1 6.63% $19,108
Leader Bank 1 6.25% $17,188
LEGEND LENDING CORPORATION 1 5.63% $21,825
LENDING CAPITAL GROUP Inc 1 6.50% $14,744
First National Bank of Omaha 1 6.13% $13,383
Magnolia Bank 1 6.63% $19,307
MCLEAN MORTGAGE CORPORATION 1 5.75% $9,989
First Financial Bank 1 5.75% $12,820
MLB RESIDENTIAL LENDING, LLC 1 7.50% $13,117
MLD MORTGAGE INC. 1 6.25% $13,703
MORTGAGE 1 INCORPORATED 1 5.99% $13,806
MORTGAGE INVESTORS GROUP, INC. 1 7.13% $14,607
FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $16,103
First Commonwealth Bank 1 6.25% $11,308
Fifth Third Bank 1 6.00% $10,424
FAIRWAY FUNDING GROUP, INC. 1 5.75% $16,670
NATIONS RELIABLE LENDING, LLC 1 6.75% $29,288
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.25% $13,546
EQUITY RESOURCES, INC. 1 6.25% $9,568
EQUITY NOW INC. 1 7.25% $16,205
NexBank 1 6.25% $11,043
NEXERA HOLDING LLC 1 5.25% $9,179
DAS Acquisition Company, LLC 1 5.75% $21,339
OAKTREE FUNDING CORP. 1 5.38% $19,518
CORNERSTONE HOME LENDING, INC. 1 7.25% $12,221
AMERICAN FEDERAL MORTGAGE CORPORATION 1 6.50% $11,993
PINNACLE LENDING GROUP, INC. 1 6.50% $17,753
Citibank 1 5.38% $13,040
CHURCHILL MORTGAGE CORPORATION 1 6.75% $12,418
POLARIS HOME FUNDING CORP. 1 6.25% $15,141
Presidential Bank, FSB 1 5.38% $20,617
BNC National Bank 1 5.50% $13,505
BM Real Estate Services, Inc. 1 6.50% $19,081
Bethpage Federal Credit Union 1 6.75% $4,260
Quontic Bank 1 7.25% $20,257
RAPID MORTGAGE COMPANY 1 6.63% $11,549
BAY-VALLEY MORTGAGE GROUP 1 7.13% $13,241
RESIDENTIAL HOME FUNDING CORP. 1 6.75% $22,496
RUOFF MORTGAGE COMPANY, INC. 1 6.50% $11,629
Sandy Spring Bank 1 6.12% $11,465
Seacoast National Bank 1 6.63% $18,010
Servion, Inc. 1 6.13% $21,609
Shore United Bank 1 6.63% $22,175
BAY CAPITAL MORTGAGE CORPORATION 1 6.25% $17,197
Simmons Bank 1 6.25% $12,138
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.50% $16,208
SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.50% $27,980
SOUTHWEST STAGE FUNDING, LLC 1 6.63% $11,298
SUMMIT FUNDING, INC. 1 5.63% $25,638
TBI MORTGAGE COMPANY 1 5.99% $19,613
THE EQUITABLE MORTGAGE CORPORATION 1 7.13% $23,334
The Huntington National Bank 1 6.25% $12,964
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $12,859
Towne Bank 1 6.13% $39,942
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 7.75% $12,468
VISION ONE MORTGAGE, INC. 1 5.75% $8,339
HARTFORD FUNDING, LTD. 1 7.38% $13,906

The top Miami FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 2,750 FHA loans originated. Their average total fees are $18,077, which is $1,855 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Miami FHA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. ($9,444), JPMorgan Chase Bank ($10,005), PULTE MORTGAGE LLC ($11,185), MID AMERICA MORTGAGE, INC. ($11,374) and DHI MORTGAGE COMPANY, LTD. ($11,787).

The lowest rate Miami FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.23%), EAGLE HOME MORTGAGE, LLC (5.40%), PENTAGON FEDERAL CREDIT UNION (5.74%), Truist (5.75%) and Regions Bank (5.76%).

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
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL BROWARD 2023 $557,750 $714,000 $863,100 $1,072,600
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL MIAMI-DADE 2023 $557,750 $714,000 $863,100 $1,072,600
MIAMI-FORT LAUDERDALE-POMPANO BEACH, FL PALM BEACH 2023 $557,750 $714,000 $863,100 $1,072,600

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 $390,000 (4.0%) $877,777 (3.0%) 1.45 46,965
2018-02-01 $389,950 (3.4%) $875,940 (2.6%) 1.42 48,000
2018-03-01 $394,900 (3.3%) $877,243 (2.1%) 1.39 48,472
2018-04-01 $397,250 (3.2%) $878,487 (1.5%) 1.35 48,105
2018-05-01 $399,000 (2.7%) $877,971 (0.5%) 1.33 47,079
2018-06-01 $399,000 (3.2%) $876,877 (1.6%) 1.33 46,265
2018-07-01 $399,000 (2.2%) $872,035 (1.4%) 1.33 45,954
2018-08-01 $398,750 (2.0%) $864,389 (0.0%) 1.34 45,632
2018-09-01 $397,500 (1.9%) $862,917 (-0.7%) 1.34 46,077
2018-10-01 $395,000 (1.4%) $865,206 (0.5%) 1.34 47,540
2018-11-01 $395,000 (1.3%) $870,007 (0.6%) 1.34 49,385
2018-12-01 $390,000 (0.0%) $876,847 (1.0%) 1.35 50,359
2019-01-01 $390,000 (0.0%) $877,182 (-0.1%) 1.35 51,137
2019-02-01 $390,000 (0.0%) $880,033 (0.5%) 1.32 52,897
2019-03-01 $393,857 (-0.3%) $880,719 (0.4%) 1.29 52,211
2019-04-01 $399,000 (0.4%) $885,981 (0.9%) 1.27 50,838
2019-05-01 $399,900 (0.2%) $894,521 (1.9%) 1.25 49,415
2019-06-01 $399,993 (0.3%) $888,854 (1.4%) 1.25 47,726
2019-07-01 $400,000 (0.3%) $884,100 (1.4%) 1.25 46,161
2019-08-01 $399,727 (0.3%) $881,518 (2.0%) 1.27 45,587
2019-09-01 $399,318 (0.5%) $884,240 (2.5%) 1.28 45,049
2019-10-01 $399,295 (1.1%) $890,757 (3.0%) 1.29 44,969
2019-11-01 $399,900 (1.2%) $914,850 (5.2%) 1.31 45,819
2019-12-01 $399,900 (2.5%) $928,958 (5.9%) 1.33 45,643
2020-01-01 $399,000 (2.3%) $936,963 (6.8%) 1.33 44,972
2020-02-01 $399,900 (2.5%) $942,047 (7.1%) 1.31 45,470
2020-03-01 $399,950 (1.6%) $943,092 (7.1%) 1.25 45,265
2020-04-01 $395,000 (-1.0%) $909,526 (2.7%) 1.24 44,428
2020-05-01 $390,000 (-2.5%) $914,374 (2.2%) 1.19 43,836
2020-06-01 $399,000 (-0.3%) $928,947 (4.5%) 1.18 42,714
2020-07-01 $399,450 (-0.1%) $951,359 (7.6%) 1.16 40,285
2020-08-01 $399,900 (0.0%) $962,177 (9.2%) 1.15 39,106
2020-09-01 $400,000 (0.2%) $977,488 (10.6%) 1.15 38,034
2020-10-01 $405,000 (1.4%) $988,910 (11.0%) 1.16 37,485
2020-11-01 $400,000 (0.0%) $988,828 (8.1%) 1.17 37,076
2020-12-01 $399,999 (0.0%) $994,355 (7.0%) 1.19 35,993
2021-01-01 $399,000 (0.0%) $986,024 (5.2%) 1.19 33,467
2021-02-01 $396,000 (-1.0%) $1,001,349 (6.3%) 1.15 30,510
2021-03-01 $398,750 (-0.3%) $1,025,276 (8.7%) 1.13 26,860
2021-04-01 $412,000 (4.3%) $1,061,309 (16.7%) 1.12 24,099
2021-05-01 $429,000 (10.0%) $1,116,370 (22.1%) 1.14 21,800
2021-06-01 $449,000 (12.5%) $1,163,875 (25.3%) 1.18 20,632
2021-07-01 $455,500 (14.0%) $1,159,295 (21.9%) 1.20 20,962
2021-08-01 $459,500 (14.9%) $1,176,863 (22.3%) 1.23 20,831
2021-09-01 $467,450 (16.9%) $1,208,002 (23.6%) 1.25 20,297
2021-10-01 $479,850 (18.5%) $1,260,576 (27.5%) 1.28 19,456
2021-11-01 $482,500 (20.6%) $1,304,770 (32.0%) 1.29 18,302
2021-12-01 $492,500 (23.1%) $1,343,496 (35.1%) 1.33 17,025
2022-01-01 $495,000 (24.1%) $1,399,371 (41.9%) 1.34 15,401
2022-02-01 $522,450 (31.9%) $1,501,636 (50.0%) 1.36 13,563
2022-03-01 $544,500 (36.6%) $1,566,457 (52.8%) 1.36 13,063
2022-04-01 $577,000 (40.1%) $1,616,168 (52.3%) 1.38 12,824
2022-05-01 $622,000 (45.0%) $1,623,263 (45.4%) 1.42 14,723
2022-06-01 $625,000 (39.2%) $1,531,062 (31.6%) 1.39 17,323
2022-07-01 $620,000 (36.1%) $1,432,579 (23.6%) 1.40 21,070
2022-08-01 $604,000 (31.5%) $1,406,924 (19.6%) 1.40 22,462
2022-09-01 $599,000 (28.1%) $1,393,945 (15.4%) 1.40 22,559
2022-10-01 $599,000 (24.8%) $1,407,112 (11.6%) 1.41 23,833
2022-11-01 $599,000 (24.2%) $1,431,246 (9.7%) 1.44 25,517
2022-12-01 $595,000 (20.8%) $1,461,330 (8.8%) 1.47 25,912
2023-01-01 $595,000 (20.2%) $1,473,844 (5.3%) 1.47 25,920
2023-02-01 $599,000 (14.7%) $1,503,920 (0.2%) 1.45 25,462
2023-03-01 $599,444 (10.1%) $1,521,207 (-2.9%) 1.41 24,536
2023-04-01 $605,000 (4.9%) $1,570,111 (-2.9%) 1.41 23,340
2023-05-01 $607,598 (-2.3%) $1,579,899 (-2.7%) 1.38 22,854
2023-06-01 $604,848 (-3.2%) $1,548,211 (1.1%) 1.36 22,583
2023-07-01 $600,995 (-3.1%) $1,497,098 (4.5%) 1.37 22,403
2023-08-01 $600,000 (-0.7%) $1,468,712 (4.4%) 1.38 22,488
2023-09-01 $599,000 (0.0%) $1,445,209 (3.7%) 1.39 24,077
2023-10-01 $598,500 (-0.1%) $1,453,940 (3.3%) 1.41 26,415
2023-11-01 $594,973 (-0.7%) $1,473,559 (3.0%) 1.42 29,158
2023-12-01 $579,900 (-2.5%) $1,467,078 (0.4%) 1.41 30,835
2024-01-01 $564,500 (-5.1%) $1,460,653 (-0.9%) 1.38 32,515
2024-02-01 $550,000 (-8.2%) $1,417,762 (-5.7%) 1.32 34,971
2024-03-01 $549,000 (-8.4%) $1,373,035 (-9.7%) 1.29 36,367
2024-04-01 $540,000 (-10.7%) $1,335,177 (-15.0%) 1.26 36,957
Miami's median listing price for 2024-04-01 was $540,000, a difference of $-65,000 (-10.7%) versus the prior year and $-9,000 versus the prior month.

Miami's median listing price comes in at 126% of the national average.

Miami's average listing price for 2024-04-01 was $1,335,177, a difference of $-234,934 (-15.0%) versus the prior year and $-37,858 versus the prior month.

For the 2024-04-01 period, Miami had 36,957 MLS listings, a difference of 590 listings (2%) versus the prior month and 13,617 listings (58%) 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 81 days 1,498 sqft
2018-02-01 78 days 1,499 sqft
2018-03-01 72 days 1,500 sqft
2018-04-01 74 days 1,501 sqft
2018-05-01 76 days 1,506 sqft
2018-06-01 79 days 1,515 sqft
2018-07-01 80 days 1,517 sqft
2018-08-01 81 days 1,513 sqft
2018-09-01 81 days 1,510 sqft
2018-10-01 78 days 1,507 sqft
2018-11-01 75 days 1,510 sqft
2018-12-01 79 days 1,507 sqft
2019-01-01 83 days 1,505 sqft
2019-02-01 81 days 1,507 sqft
2019-03-01 79 days 1,512 sqft
2019-04-01 78 days 1,520 sqft
2019-05-01 81 days 1,526 sqft
2019-06-01 85 days 1,527 sqft
2019-07-01 86 days 1,530 sqft
2019-08-01 86 days 1,524 sqft
2019-09-01 86 days 1,516 sqft
2019-10-01 85 days 1,508 sqft
2019-11-01 81 days 1,506 sqft
2019-12-01 84 days 1,500 sqft
2020-01-01 87 days 1,499 sqft
2020-02-01 82 days 1,488 sqft
2020-03-01 74 days 1,485 sqft
2020-04-01 82 days 1,461 sqft
2020-05-01 94 days 1,450 sqft
2020-06-01 103 days 1,437 sqft
2020-07-01 96 days 1,406 sqft
2020-08-01 82 days 1,389 sqft
2020-09-01 81 days 1,381 sqft
2020-10-01 81 days 1,376 sqft
2020-11-01 79 days 1,366 sqft
2020-12-01 81 days 1,357 sqft
2021-01-01 83 days 1,334 sqft
2021-02-01 75 days 1,303 sqft
2021-03-01 64 days 1,293 sqft
2021-04-01 60 days 1,296 sqft
2021-05-01 56 days 1,312 sqft
2021-06-01 53 days 1,341 sqft
2021-07-01 52 days 1,361 sqft
2021-08-01 53 days 1,365 sqft
2021-09-01 54 days 1,369 sqft
2021-10-01 55 days 1,376 sqft
2021-11-01 56 days 1,376 sqft
2021-12-01 58 days 1,366 sqft
2022-01-01 61 days 1,356 sqft
2022-02-01 48 days 1,364 sqft
2022-03-01 40 days 1,387 sqft
2022-04-01 40 days 1,435 sqft
2022-05-01 36 days 1,488 sqft
2022-06-01 37 days 1,500 sqft
2022-07-01 40 days 1,512 sqft
2022-08-01 49 days 1,513 sqft
2022-09-01 57 days 1,515 sqft
2022-10-01 60 days 1,518 sqft
2022-11-01 61 days 1,516 sqft
2022-12-01 66 days 1,500 sqft
2023-01-01 72 days 1,488 sqft
2023-02-01 67 days 1,472 sqft
2023-03-01 60 days 1,459 sqft
2023-04-01 63 days 1,452 sqft
2023-05-01 63 days 1,442 sqft
2023-06-01 62 days 1,441 sqft
2023-07-01 64 days 1,434 sqft
2023-08-01 62 days 1,426 sqft
2023-09-01 58 days 1,417 sqft
2023-10-01 56 days 1,422 sqft
2023-11-01 57 days 1,425 sqft
2023-12-01 61 days 1,406 sqft
2024-01-01 68 days 1,394 sqft
2024-02-01 62 days 1,376 sqft
2024-03-01 58 days 1,363 sqft
2024-04-01 64 days 1,353 sqft
Miami's median listing age (time on market) for 2024-04-01 was 64 days. This is 2% longer than the same period one year ago.

Miami's median square footage for active listings during the 2024-04-01 period was 1,353 sqft. One year prior, the average listing was 1,452 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).