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 273 lenders originated 12,308 FHA loans during 2022. The total origination value was $4,248,810,000, with an average FHA loan value of $345,207.

Miami FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Miami averaged 6.42% for the week of 2023-12-01, compared to the national average (all FHA variants) of 6.949% for the same period.

Miami's average FHA mortgage closing costs are $10,647.

The average rate for the prior week (2023-11-24) was 6.63% and one month ago for the week of 2023-10-27, the average rate was 7.24%.

The average rate one year ago was 6.05%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.44%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,790 4.82% $14,699
Paramount Residential Mortgage Group, Inc. 825 5.08% $16,989
QUICKEN LOANS, LLC 703 4.33% $13,886
CALIBER HOME LOANS, INC. 601 4.50% $14,264
CROSSCOUNTRY MORTGAGE, LLC 470 5.03% $15,007
LOANDEPOT.COM, LLC 438 4.73% $14,702
EAGLE HOME MORTGAGE, LLC 376 4.86% $15,479
FREEDOM MORTGAGE CORPORATION 368 4.44% $12,983
Flagstar Bank, FSB 241 4.57% $12,967
PENNYMAC LOAN SERVICES, LLC 237 4.21% $12,174
MY MORTGAGE, INC. 187 5.02% $16,707
DHI MORTGAGE COMPANY, LTD. 170 3.87% $11,833
EVERETT FINANCIAL, INC. 166 5.39% $9,930
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 160 5.05% $15,163
HOME POINT FINANCIAL CORPORATION 154 4.23% $14,958
CARDINAL FINANCIAL 146 5.01% $15,893
COLUMBUS CAPITAL LENDING, LLC 137 5.11% $17,593
Mr. Cooper ( Nationstar Mortgage ) 131 4.29% $14,440
PRIMARY RESIDENTIAL MORTGAGE, INC. 116 5.45% $19,553
AMCAP MORTGAGE, LTD. 107 5.11% $20,113
Carrington Mortgage Services, LLC 104 4.95% $15,901
Lakeview Community Capital, LLC 104 3.63% $7,316
Sierra Pacific Mortgage Company, Inc. 102 4.98% $16,558
HAMILTON HOME LOANS, INC. 100 4.71% $14,775
NEWREZ LLC 98 4.61% $11,859
HOME FINANCING CENTER, INC. 94 5.62% $21,126
Equity Prime Mortgage LLC 91 5.18% $17,283
AMERICAN PACIFIC MORTGAGE CORPORATION 89 5.23% $15,437
ABSOLUTE HOME MORTGAGE CORPORATION 85 4.96% $14,952
LAKEVIEW LOAN SERVICING, LLC 73 3.70% $8,082
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 68 4.35% $12,958
AMERISAVE MORTGAGE CORPORATION 68 4.42% $14,461
HOMESIDE FINANCIAL, LLC 68 5.66% $16,769
READY MORTGAGE LENDERS, LLC 68 5.11% $19,299
AMERICAN PORTFOLIO MORTGAGE CORPORATION 65 5.19% $16,971
NP, Inc. 63 5.01% $17,548
PLAZA HOME MORTGAGE, INC. 63 5.15% $17,360
MOVEMENT MORTGAGE, LLC 61 4.88% $13,413
1ST FINANCIAL, INC. 60 5.23% $17,364
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 55 5.34% $15,805
THE MORTGAGE FIRM, INC. 52 5.42% $13,642
BROKER SOLUTIONS, INC. 52 4.77% $14,024
AMERICAN BANCSHARES MORTGAGE 50 4.95% $14,496
FIRST EQUITY MORTGAGE BANKERS, INC. 48 4.83% $15,879
CMG MORTGAGE, INC. 46 5.12% $16,431
HOMEBRIDGE FINANCIAL SERVICES, INC. 45 4.86% $16,790
GUARANTEED RATE, INC. 44 4.94% $14,082
Hometown Equity Mortgage, LLC 42 4.84% $16,653
Plains Commerce Bank 41 5.09% $14,761
PLANET HOME LENDING, LLC 37 3.90% $9,808
FBC MORTGAGE, LLC 34 4.80% $15,485
Regions Bank 33 4.86% $12,629
SUN WEST MORTGAGE COMPANY, INC. 30 5.12% $15,715
Mortgage Lenders Investment Trading Corporation 30 4.34% $9,139
VAN DYK MORTGAGE CORPORATION 30 5.61% $10,026
ARK-LA-TEX FINANCIAL SERVICES, LLC. 28 4.82% $15,365
JPMorgan Chase Bank 27 5.19% $7,362
SWBC MORTGAGE CORPORATION 27 4.84% $11,793
GENEVA FINANCIAL, LLC 26 5.07% $18,357
FINANCE OF AMERICA MORTGAGE LLC 26 4.11% $13,837
Century Mortgage Company DBA Century Lending Company 25 5.36% $17,625
VILLAGE CAPITAL MORTGAGE 25 3.57% $7,165
NATIONWIDE MORTGAGE BANKERS, INC. 22 5.47% $16,473
MUTUAL OF OMAHA MORTGAGE, INC. 22 4.51% $15,892
BANKING MORTGAGE SERVICES, B.M.S. CORP. 21 5.58% $17,055
CAPITAL PARTNERS MORTGAGE, LLC 21 4.71% $13,570
BECKAM FUNDING CORP. 21 5.90% $22,513
OCMBC, INC. 21 5.05% $17,499
NVR Mortgage Finance, Inc. 20 4.59% $14,462
FOUNDATION MORTGAGE CORPORATION 18 4.32% $13,907
Northpointe Bank 18 4.92% $11,493
RESIDENTIAL BANCORP 18 4.74% $14,254
CROSSFIRE FINANCIAL NETWORK, INC. 17 5.07% $17,099
Citizens Bank 17 3.94% $12,879
DG PINNACLE FUNDING LLC 17 5.12% $18,474
RESIDENTIAL HOME FUNDING CORP. 16 4.69% $17,385
MICHIGAN MUTUAL, INC. 16 4.63% $15,975
NATIONS DIRECT MORTGAGE, LLC 16 5.03% $15,513
AMERICAN FINANCING CORPORATION 15 4.69% $13,412
AmRes Corporation 15 4.65% $13,510
TOP FLITE FINANCIAL, INC. 15 5.63% $22,990
Bank of America 14 4.31% $9,042
First Guaranty Mortgage Corporation 14 3.48% $12,883
NFM, INC. 14 5.59% $15,353
MILEND, INC. 14 5.52% $18,272
FIRST ALLIANCE HOME MORTGAGE, LLC 14 5.23% $15,899
Ixonia Bank 14 5.66% $19,231
MID AMERICA MORTGAGE, INC. 13 5.36% $10,071
Cornerstone First Mortgage, Inc 13 5.08% $18,333
PANORAMA MORTGAGE GROUP, LLC 13 5.44% $18,739
Financial Freedom Mortgage, LLC 13 4.48% $12,864
TOWNE MORTGAGE COMPANY 12 4.94% $16,207
NETWORK CAPITAL FUNDING CORPORATION 12 4.35% $14,012
ALLIED MORTGAGE GROUP, INC. 12 4.82% $14,258
ACADEMY MORTGAGE CORPORATION 12 4.82% $16,422
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 5.38% $13,219
GUARANTEED RATE AFFINITY, LLC 12 4.82% $12,723
EMM LOANS LLC 11 5.01% $13,926
Princeton Mortgage Corporation 11 3.86% $16,695
SUCCESS MORTGAGE PARTNERS, INC. 11 4.41% $14,155
AmeriHome Mortgage Company, LLC 10 4.06% $10,388
Waterstone Mortgage Corporation 10 5.60% $17,147
TD Bank 10 3.83% $10,121
US MORTGAGE CORPORATION 9 5.19% $16,055
LEADERONE FINANCIAL CORPORATION 9 5.21% $14,364
Nations Lending Corporation 9 5.44% $15,890
The Federal Savings Bank 9 4.92% $18,578
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 9 4.29% $12,623
J. VIRGIL, INC. 9 4.79% $12,559
ROUNDPOINT MORTGAGE SERVICING CORPORATION 8 4.42% $17,385
LOANPAL, LLC 8 4.81% $15,724
LADERA LENDING, INC. 8 4.20% $16,457
M&T Bank 8 5.11% $9,200
First Savings Bank 8 5.19% $18,458
Truist 8 4.33% $11,670
HighTechLending Inc 8 5.17% $16,461
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 4.86% $24,059
TOTAL MORTGAGE SERVICES, LLC 7 5.52% $17,728
UNION HOME MORTGAGE CORP. 7 4.68% $12,040
HOMESPIRE MORTGAGE CORPORATION 7 4.71% $13,736
UNITED MORTGAGE CORP 7 5.00% $13,916
AMERICAN FINANCIAL RESOURCES, INC. 7 4.23% $15,157
PULTE MORTGAGE LLC 7 4.52% $11,699
Advisors Mortgage Group, L.L.C. 7 5.64% $16,561
City National Bank of Florida 7 4.59% $12,093
T2 FINANCIAL LLC 7 4.88% $13,128
RADIUS FINANCIAL GROUP INC. 7 5.04% $12,939
Loan Simple, Inc. 6 5.46% $16,994
MORTGAGE EQUITY PARTNERS LLC 6 5.02% $15,343
Christensen Financial, Inc. 6 4.04% $12,055
LAND HOME FINANCIAL SERVICES, INC. 6 5.13% $16,410
TIDEWATER MORTGAGE SERVICES, INC. 6 5.10% $13,529
Commerce Home Mortgage, Inc. 6 4.38% $14,270
SPACE COAST Credit Union 6 4.21% $10,482
ZILLOW HOME LOANS, LLC 5 4.60% $13,376
A&D Mortgage LLC 5 4.43% $18,979
AHL FUNDING 5 5.00% $20,669
AMERIFIRST FINANCIAL CORPORATION 5 4.95% $15,544
ARC HOME LLC 5 5.35% $18,289
CONTOUR MORTGAGE CORPORATION 5 4.83% $12,938
EMBRACE HOME LOANS, INC. 5 4.90% $14,012
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 4.38% $16,379
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 5 4.80% $20,400
MORIA DEVELOPMENT, INC. 5 5.25% $12,630
NORWICH COMMERCIAL GROUP, INC. 5 5.65% $13,993
PHH Mortgage Corporation 5 4.18% $10,765
RELIANCE FIRST CAPITAL, LLC 5 3.80% $13,195
TruHome Solutions, LLC 5 4.03% $11,215
U.S. Bank 5 4.88% $11,658
STOCKTON MORTGAGE CORPORATION 4 5.00% $17,244
PNC Bank 4 5.16% $9,686
BAY EQUITY LLC 4 5.38% $15,514
VERITAS FUNDING, LLC 4 5.34% $14,758
INTELLILOAN, INC. 4 5.00% $17,272
MLB RESIDENTIAL LENDING, LLC 4 5.59% $16,997
Evolve Bank & Trust 4 4.72% $14,561
UNITED SECURITY FINANCIAL CORP 4 4.81% $14,089
LIBERTY HOME MORTGAGE CORPORATION 4 6.13% $13,345
Premium Mortgage Corporation 4 6.56% $16,081
Barrington Bank & Trust Company, N.A. 4 4.53% $11,424
First Federal Bank 4 4.41% $16,922
JMAC LENDING, INC. 3 4.25% $10,117
ROYAL UNITED MORTGAGE LLC 3 4.08% $14,565
Magnolia Bank 3 4.54% $17,469
Bank of England 3 4.71% $16,355
BANKERS MORTGAGE LENDING, INC. 3 5.46% $12,308
Neighborhood Loans, Inc. 3 4.50% $13,738
TJC Mortgage, Inc. 3 5.42% $16,260
Armed Forces Bank 3 5.04% $10,189
Mortgage Research Center, LLC 3 6.21% $11,205
Wyndham Capital Mortgage, Inc. 3 4.13% $8,742
FAY SERVICING, LLC 3 4.21% $9,688
OPEN MORTGAGE, LLC 3 5.33% $13,818
FIRST MORTGAGE COMPANY, INC. 3 4.08% $9,030
Wells Fargo Bank 3 5.13% $12,180
East Coast Capital Corp. 3 4.79% $19,895
AXIA FINANCIAL, LLC 2 2.88% $21,391
CASTLE & COOKE MORTGAGE, LLC 2 4.19% $12,969
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 3.38% $10,565
CREDIT UNION MORTGAGE ASSOCIATION, INC. 2 4.63% $9,183
Hometown Lenders, Inc. 2 3.69% $16,451
Town Square Mortgage & Investments, Inc. 2 4.06% $15,793
HOMESTAR FINANCIAL CORPORATION 2 4.13% $14,720
Ameris Bank 2 4.69% $16,353
Amerifirst Financial, Inc. 2 3.63% $12,610
FIDELITY FUNDING MORTGAGE CORP. 2 4.63% $12,779
First Horizon Bank 2 5.13% $13,330
DAS Acquisition Company, LLC 2 5.69% $17,172
GUILD MORTGAGE COMPANY 2 5.69% $13,680
Quontic Bank 2 4.38% $16,641
First Internet Bank of Indiana 2 4.13% $11,423
Summit Mortgage Corporation 2 4.69% $17,927
BAYSHORE MORTGAGE FUNDING, LLC 2 4.56% $13,283
LOANLEADERS OF AMERICA, INC. 2 4.50% $20,227
Strong Home Mortgage, LLC 2 4.06% $12,222
BETTER MORTGAGE CORPORATION 2 3.31% $14,356
Goldwater Bank, N.A. 2 5.44% $10,290
ML Mortgage Corp. 2 4.88% $18,481
Valley National Bank 2 6.69% $10,703
The Home Loan Expert LLC 2 4.94% $12,946
SECURITYNATIONAL MORTGAGE COMPANY 2 6.06% $17,202
First Option Mortgage, LLC 2 5.75% $14,982
SOUTHPOINT FINANCIAL SERVICES, INC. 2 4.19% $20,863
Texana Bank 1 3.00% $19,475
THE MORTGAGE LINK, INC. 1 6.13% $12,267
The Union Bank Company 1 4.00% $10,998
Arvest Bank 1 4.75% $11,884
ANGEL OAK HOME LOANS LLC 1 5.13% $12,588
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.25% $21,028
AMERICAN ADVISORS GROUP 1 3.25% $13,553
UNIVERSITY LENDING GROUP, LLC 1 4.13% $11,228
1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 5.63% $12,153
Alcova Mortgage LLC 1 5.50% $19,944
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.75% $7,574
ALAMEDA MORTGAGE CORPORATION 1 5.63% $8,108
Vellum Mortgage, Inc. 1 5.75% $17,410
INTERSTATE HOME LOAN CENTER, INC. 1 3.75% $14,674
INLAND BANK & TRUST 1 5.63% $12,586
IMPAC MORTGAGE CORP. 1 5.25% $26,944
HOMESTEAD FUNDING CORP. 1 4.88% $14,608
GUARANTY HOME MORTGAGE CORPORATION 1 5.25% $24,400
GTE Federal Credit Union 1 7.25% $11,873
MATTAMY HOME FUNDING, LLC 1 3.13% $16,352
MCLEAN MORTGAGE CORPORATION 1 4.25% $11,776
Victorian Finance, LLC 1 5.50% $15,904
GSF Mortgage Corporation 1 4.63% $12,567
GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.25% $11,701
MID-ISLAND MORTGAGE CORP. 1 2.75% $16,447
GoPrime Mortgage, Inc. 1 5.75% $13,898
MLD MORTGAGE INC. 1 4.25% $12,689
Acre Mortgage and Financial Inc 1 3.63% $16,768
Gateway First Bank 1 6.63% $8,990
FM Home Loans, LLC 1 4.75% $10,635
Florida Capital Bank 1 4.63% $13,973
Mutual Federal Bank 1 5.25% $14,379
FIRST HOME MORTGAGE CORPORATION 1 2.75% $9,052
NATIONS RELIABLE LENDING, LLC 1 4.25% $22,680
FIRSTBANK PUERTO RICO 1 4.75% $12,451
FirstBank 1 3.50% $11,787
Network Funding, L.P. 1 3.63% $18,554
North American Savings Bank, F.S.B. 1 4.75% $7,543
Watermark Capital, Inc. 1 5.63% $9,721
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.13% $9,282
ENVOY MORTGAGE, LTD 1 5.00% $14,942
Credence Funding Corporation 1 4.38% $9,169
Peoples Bank 1 5.62% $19,573
ACOPIA, LLC 1 4.25% $21,825
COUNTRYPLACE MORTGAGE, LTD. 1 4.13% $13,896
COMPASS MORTGAGE, INC. 1 5.25% $13,349
CLIFFCO, INC. 1 6.25% $16,356
POLARIS HOME FUNDING CORP. 1 6.50% $13,919
Preston Home Loans Inc 1 6.88% $10,018
CityWorth Mortgage LLC 1 4.25% $9,749
Citibank 1 3.50% $13,832
Prosperity Home Mortgage, LLC 1 5.00% $9,878
CHURCHILL MORTGAGE CORPORATION 1 3.50% $7,216
CHAMPIONS MORTGAGE LLC 1 3.50% $13,082
Centennial Bank 1 5.00% $11,157
RANLIFE, INC. 1 3.75% $17,048
RAPID MORTGAGE COMPANY 1 6.13% $21,551
Capital City Home Loans, LLC 1 5.75% $17,440
Capital Bank 1 3.75% $12,400
CALCON MUTUAL MORTGAGE LLC 1 5.75% $22,795
Blue Ridge Bank 1 3.63% $11,249
S1L, Inc. 1 4.75% $28,037
Seacoast National Bank 1 5.25% $10,096
BLUELEAF LENDING, LLC 1 3.50% $11,077
SOUTHERN TRUST MORTGAGE, LLC 1 4.75% $17,322
South State Bank 1 5.63% $8,280
STEARNS LENDING, LLC 1 3.25% $5,024
BEST CAPITAL FUNDING 1 3.63% $12,357
Synovus Bank 1 3.25% $13,709
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 3.13% $7,771

The top Miami FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,790 FHA loans originated. Their average total fees are $14,699, which is $2,291 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 MORTGAGE ($7,165), Lakeview Community Capital, LLC ($7,316), JPMorgan Chase Bank ($7,362), LAKEVIEW LOAN SERVICING, LLC ($8,082) and Bank of America ($9,042).

The lowest rate Miami FHA lenders (with over 10 loans originated) are First Guaranty Mortgage Corporation (3.48%), VILLAGE CAPITAL MORTGAGE (3.57%), Lakeview Community Capital, LLC (3.63%), LAKEVIEW LOAN SERVICING, LLC (3.70%) and TD Bank (3.83%).

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%) $877,930 (3.0%) 1.45 46,964
2018-02-01 $389,950 (3.4%) $876,093 (2.7%) 1.42 48,000
2018-03-01 $394,900 (3.3%) $877,390 (2.1%) 1.39 48,471
2018-04-01 $397,250 (3.2%) $878,625 (1.5%) 1.35 48,104
2018-05-01 $399,000 (2.8%) $878,080 (0.5%) 1.33 47,080
2018-06-01 $399,000 (3.4%) $876,980 (1.6%) 1.33 46,266
2018-07-01 $399,000 (2.2%) $872,121 (1.4%) 1.33 45,956
2018-08-01 $398,750 (2.0%) $864,479 (0.0%) 1.34 45,634
2018-09-01 $397,500 (1.9%) $863,005 (-0.7%) 1.34 46,079
2018-10-01 $395,000 (1.4%) $865,294 (0.5%) 1.34 47,545
2018-11-01 $395,000 (1.3%) $870,080 (0.6%) 1.34 49,390
2018-12-01 $390,000 (0.0%) $876,932 (0.9%) 1.35 50,364
2019-01-01 $390,000 (0.0%) $877,272 (-0.1%) 1.35 51,142
2019-02-01 $390,000 (0.0%) $880,129 (0.5%) 1.32 52,901
2019-03-01 $393,857 (-0.3%) $880,775 (0.4%) 1.29 52,215
2019-04-01 $399,000 (0.4%) $885,985 (0.8%) 1.27 50,843
2019-05-01 $399,900 (0.2%) $894,498 (1.9%) 1.25 49,419
2019-06-01 $399,995 (0.3%) $888,830 (1.4%) 1.25 47,731
2019-07-01 $400,000 (0.3%) $887,381 (1.8%) 1.25 46,166
2019-08-01 $399,727 (0.3%) $881,450 (2.0%) 1.27 45,593
2019-09-01 $399,318 (0.5%) $884,164 (2.5%) 1.28 45,055
2019-10-01 $399,295 (1.1%) $890,679 (2.9%) 1.29 44,975
2019-11-01 $399,900 (1.2%) $914,790 (5.1%) 1.31 45,823
2019-12-01 $399,900 (2.5%) $928,914 (5.9%) 1.33 45,647
2020-01-01 $399,000 (2.3%) $936,926 (6.8%) 1.33 44,976
2020-02-01 $399,900 (2.5%) $942,000 (7.0%) 1.31 45,474
2020-03-01 $399,950 (1.6%) $943,061 (7.1%) 1.25 45,269
2020-04-01 $395,000 (-1.0%) $909,493 (2.7%) 1.24 44,432
2020-05-01 $390,000 (-2.5%) $914,355 (2.2%) 1.19 43,838
2020-06-01 $399,000 (-0.3%) $928,936 (4.5%) 1.18 42,716
2020-07-01 $399,450 (-0.1%) $951,326 (7.2%) 1.16 40,288
2020-08-01 $399,900 (0.0%) $962,157 (9.2%) 1.15 39,108
2020-09-01 $400,000 (0.2%) $977,449 (10.6%) 1.15 38,036
2020-10-01 $405,000 (1.4%) $988,892 (11.0%) 1.16 37,486
2020-11-01 $400,000 (0.0%) $988,801 (8.1%) 1.17 37,078
2020-12-01 $399,999 (0.0%) $994,308 (7.0%) 1.19 35,995
2021-01-01 $399,000 (0.0%) $985,980 (5.2%) 1.19 33,468
2021-02-01 $396,000 (-1.0%) $1,001,301 (6.3%) 1.15 30,512
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%) $1,163,849 (25.3%) 1.18 20,633
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%) $1,207,975 (23.6%) 1.25 20,298
2021-10-01 $479,850 (18.5%) $1,260,576 (27.5%) 1.28 19,457
2021-11-01 $482,500 (20.6%) $1,304,727 (32.0%) 1.29 18,303
2021-12-01 $492,000 (23.0%) $1,343,447 (35.1%) 1.33 17,026
2022-01-01 $495,000 (24.1%) $1,399,438 (41.9%) 1.34 15,400
2022-02-01 $522,450 (31.9%) $1,501,661 (50.0%) 1.36 13,562
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%) $1,623,239 (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 $604,250 (31.5%) $1,406,956 (19.6%) 1.40 22,465
2022-09-01 $599,000 (28.1%) $1,394,037 (15.4%) 1.40 22,563
2022-10-01 $599,000 (24.8%) $1,407,503 (11.7%) 1.41 23,837
2022-11-01 $599,000 (24.2%) $1,431,457 (9.7%) 1.44 25,520
2022-12-01 $595,000 (20.9%) $1,461,505 (8.8%) 1.47 25,915
2023-01-01 $595,000 (20.2%) $1,471,482 (5.2%) 1.48 25,923
2023-02-01 $599,000 (14.7%) $1,504,246 (0.2%) 1.45 25,465
2023-03-01 $599,444 (10.1%) $1,521,538 (-2.9%) 1.41 24,539
2023-04-01 $605,000 (4.9%) $1,570,063 (-2.9%) 1.41 23,341
2023-05-01 $607,945 (-2.3%) $1,580,256 (-2.7%) 1.38 22,853
2023-06-01 $604,924 (-3.2%) $1,548,264 (1.1%) 1.36 22,582
2023-07-01 $601,990 (-2.9%) $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 (2.9%) 1.42 29,158
Miami's median listing price for 2023-11-01 was $594,973, a difference of $-4,027 (-0.7%) versus the prior year and $-3,527 versus the prior month.

Miami's median listing price comes in at 142% of the national average.

Miami's average listing price for 2023-11-01 was $1,473,559, a difference of $42,102 (2.9%) versus the prior year and $19,619 versus the prior month.

For the 2023-11-01 period, Miami had 29,158 MLS listings, a difference of 2,743 listings (10%) versus the prior month and 3,638 listings (14%) 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 1,500 sqft
2018-03-01 72 days 1,500 sqft
2018-04-01 74 days 1,502 sqft
2018-05-01 76 days 1,507 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 1,515 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 1,436 sqft
2020-07-01 96 days 1,405 sqft
2020-08-01 82 days 1,389 sqft
2020-09-01 81 days 1,380 sqft
2020-10-01 81 days 1,375 sqft
2020-11-01 79 days 1,366 sqft
2020-12-01 81 days 1,357 sqft
2021-01-01 83 days 1,333 sqft
2021-02-01 75 days 1,302 sqft
2021-03-01 64 days 1,291 sqft
2021-04-01 60 days 1,296 sqft
2021-05-01 56 days 1,311 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 1,363 sqft
2022-03-01 40 days 1,387 sqft
2022-04-01 40 days 1,434 sqft
2022-05-01 36 days 1,487 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 1,513 sqft
2022-10-01 60 days 1,518 sqft
2022-11-01 61 days 1,515 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 1,460 sqft
2023-04-01 63 days 1,452 sqft
2023-05-01 63 days 1,441 sqft
2023-06-01 62 days 1,441 sqft
2023-07-01 64 days 1,434 sqft
2023-08-01 62 days 1,425 sqft
2023-09-01 58 days 1,416 sqft
2023-10-01 56 days 1,421 sqft
2023-11-01 57 days 1,425 sqft
Miami's median listing age (time on market) for 2023-11-01 was 57 days. This is -7% shorter than the same period one year ago.

Miami's median square footage for active listings during the 2023-11-01 period was 1,425 sqft. One year prior, the average listing was 1,515 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).