Property In Miami’s Edgewater Neighborhood Has Appreciated 1400% In Just Five Years

How much have property values in Edgewater gone up in the past few years?

According to the Biscayne Times, one homeowner there is now routinely being offered $3 million for his house on a 5,500 square foot lot. He purchased it a little over five years ago for $200,000, meaning the property has increased in value by 1400% (or 280% per year).

As staggering as those gains are, some properties in Wynwood and the Design District have exceeded them, although they are mostly commercial buildings.