Miami FHA Loan Rates, Closing Costs & Stats

Miami-Fort Lauderdale-Pompano Beach, FL

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    • 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 6.43% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.5% and one month ago for the week of 2024-10-04, the average rate was 6.02%.

    The average rate one year ago was 7.57%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.92%.

    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
    2024-05-01 $539,450 (-11.2%) $1,328,676 (-15.9%) 1.22 37,425
    2024-06-01 $535,000 (-11.6%) $1,274,959 (-17.7%) 1.20 37,869
    2024-07-01 $535,000 (-11.0%) $1,229,123 (-17.9%) 1.22 38,455
    2024-08-01 $530,000 (-11.7%) $1,208,342 (-17.7%) 1.23 38,724
    2024-09-01 $525,000 (-12.4%) $1,209,341 (-16.3%) 1.24 40,430
    2024-10-01 $525,000 (-12.3%) $1,221,215 (-16.0%) 1.24 41,516
    Miami's median listing price for 2024-10-01 was $525,000, a difference of $-73,500 (-12.3%) versus the prior year and $0 versus the prior month.

    Miami's median listing price comes in at 124% of the national average.

    Miami's average listing price for 2024-10-01 was $1,221,215, a difference of $-232,725 (-16.0%) versus the prior year and $11,874 versus the prior month.

    For the 2024-10-01 period, Miami had 41,516 MLS listings, a difference of 1,086 listings (3%) versus the prior month and 15,101 listings (57%) 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
    2024-05-01 64 days 1,344 sqft
    2024-06-01 67 days 1,343 sqft
    2024-07-01 73 days 1,344 sqft
    2024-08-01 74 days 1,340 sqft
    2024-09-01 73 days 1,335 sqft
    2024-10-01 74 days 1,336 sqft
    Miami's median listing age (time on market) for 2024-10-01 was 74 days. This is 31% longer than the same period one year ago.

    Miami's median square footage for active listings during the 2024-10-01 period was 1,336 sqft. One year prior, the average listing was 1,422 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).