Miami Again Ranks #1 For Housing Price Increases

Home prices in Miami rose more over the past year than any other major U.S. city, according to the S&P CoreLogic Case-Shiller Index.

The data was released on March 28.

According to the release, home prices in Miami were up 13.8% year-over-year at the end of January 2023.

By comparison, the price gains for the composite 20 city index stood at 2.5% for the year.

The only other city in the index that was up double digits was Tampa (+10.5%).

San Francisco and Seattle actually saw price declines during the period of 7.6% and 5.1% respectively.

Miami’s winning streak for year-over-year price gains in the index has lasted for six months, the release said.

 

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Anonymous
8 months ago

Great time to be a local property owner!

anonymous
8 months ago

I bought a place back when rates were still in the mid 3s. Holding onto my place and never letting it go

Anonymous
8 months ago

Same here. My property value has already gone up so much in just a little over a year. Can’t wait to see it skyrocket as demand continues to rise.

Anonymous
8 months ago

shit gets scary when newbies believe 15-20% yearly appreciation rates are the norm.

Anon
8 months ago

Mid 5s here. It’s now mid 6s in short time. I see it doubling in few yrs.

Not Anonymous
8 months ago

Bad time to be a renter!

Anonymous
8 months ago

Not really all that great. Prices are high everywhere, and unless you 1) are willing to move to a lower cost of living area, which usually means lower desirability or 2) are willing to lose your property tax cap and pay a lot more tax for even a similarly or lower valued property, then there’s not much benefit. It enables you to stay afloat, or cash out if you’re willing to downgrade your housing.

Anonymous
8 months ago

Still beats throwing money away every month like renters do.

Anonymous
8 months ago

it’s not throwing money away when you pay little more on rent than the owner’s carrying costs like I do.

Enjoy finding windstorm insurance!

Anonymous
8 months ago

Never had a problem finding insurance. But please do enjoy being subject to your landlord’s whims!

Anonymous
8 months ago

His whims are 2-3% increases per year. Still a quarter of my take home pay. Find the right landlord, pay on time, good things result. And if you never had a problem finding insurance, it’s because your condo assoc. has been finding it for you for the building coverage.

Anonymous
8 months ago

So what portion of your rent do you expect to get back at the end of your tenancy?

Anonymous
8 months ago

^considering my rent basically only covers HOA fees, taxes, repairs, and the special assessment installments, what makes you think I would get a portion of my rent “back”? My landlord has no mortgage. Isn’t living there for carry cost enough? Man you’re pushy!

Anonymous
8 months ago

What portion of your property taxes and windstorm insurance do you expect to get back at the end of your ownership? (HINT–the answer is ZERO).

Anonymous
8 months ago

Right, but I will get all the equity out of it, whereas you will walk away with nothing. Renting, like leasing a car, is almost always a bad call.

Anonymous
8 months ago

Oh so true……a strong financial education needs to be a requirement in high schools across America. Much like Japan / Singapore.

Anonymous
8 months ago

That black tarp has been hanging off the side of SLS Lux for 4 years. What a joke.

Anonymous
8 months ago

What do you expect considering it also has that when it has a hideous mural? I suppose it’s not as bad as CitizenM, which is an awful building.

Anonymous
8 months ago

Those murals are iconic and need to be integrated throughout brickell, especially the western side. We want them here! It brings a sense of shared identity and tourists take pictures all the time – they are like the doors of Provence or the white walls of Santorini, Brickell’s colorful murals.

Dan
8 months ago

Brickell rents are up 45%. Brickell winning!

Anonymous
8 months ago

Are you sure that’s not your underwear?

Melo is sigma and Chad
8 months ago

Give Melo a fast track on projects and they could reverse that

Azarius
8 months ago

We need more inventory built east of 95 going up! This will help with affordability and accessibility, as most of the transit options are there

Anonymous
8 months ago

Overtown!

Anonymous
8 months ago

Developers have a pathway forward. New Live Local law signed by the Governor.

Looks like the Riverside area may have its chance to go up!

This will also make it more profitable for developers to build in blighted areas next to higher zoned areas that are zoned low.

Evens the playing ground, adds more luxury amenities and quality urban planning, while also providing part workforce housing for 30 years, and stimulates the local economy 👏

https://therealdeal.com/miami/2023/03/29/floridas-711m-affordable-housing-bill-becomes-law/

Jeff
8 months ago

Downtown, CBD, Overtown and around all the endless construction by 395 is ideal spot for affordable housing. Still inexpensive land and close to the metro to work or entertainment in Brickell.

Anonymous
8 months ago

Near the museums east of I95 so affordable housing gets exposed to culture and isn’t stigmatized into segregated area.

Doesn't make sense
8 months ago

So build affordable housing in some of the most in-demand land in the country? Did you see the bids that Genting received for the old Herald site?

Anonymous
8 months ago

Not there but a few blocks over where there’s land that can’t be utilized as well. That’s what all the other neighborhoods have done.

Anonymous
8 months ago

Segregation is immoral, hurtful and bad for society. Integrate people into society with culture, education and respect, or we will keep seeing people drag race in Brickell and twirk on cars in South Beach.

Anonymous
8 months ago

blahblahblah….what you really mean is “subsidize broke people so they can live on the Bay”

Anonymous
8 months ago

Not on the bay, near it like they did in Brickell. It’s already all homeless and factories around there along 395. It’s an upgrade. Not saying a housing project but something nice with 1/3 subsidized – it’s better than it is now.

Anonymous
8 months ago

It’s not FAIR! He demands a Nordstrom neighborhood on his Dollar Tree paycheck.

Anonymous
8 months ago

Would you rather a wealthy area next to an entirely blighted neighborhood… or have it all be a wealthy and nice, with a few mixed income buildings?

Anonymous
8 months ago

It won’t all be wealthy and nice with a “few” subsidized apartments incorporated into it lol

Anon
8 months ago

Sure it will. The trump towers, Hudson yards and all the ultra lux new condos in midtown west have luxury buildings nearby* with middle income units mixed in. These are some of the best areas to live in NYC.

Anonymous
8 months ago

I-95 is a border vacuum for a reason.

Down2Town
8 months ago

DGX is my favorite dollar store downtown.

Anonymous
8 months ago

exposed to culture…LOLOLOLOL

Anonymous
8 months ago

Build housing for everybody into a segregated area while complaining about historic stigma and segregation. You can’t win…

Anon
8 months ago

Not a segregated area, a few mixed use luxury buildings spread FAR apart and integrated seamlessly, to help counter the displacement of people in developing parts. It has to bs the right balance bc if you go overboard with subsidies especially in “zones” like it has been done in the past, it becomes blighted and brings down the high value areas, so everyone suffers

anonymous
8 months ago

Really the county needs to an RFP for the property they own adjacent to Henry Reeves park. Its a bunch of low income housing that are a couple stories sitting on almost 13 acres of land. Could easiliy build a couple 25 story high rises to replace the aging low income housing and do a large scale redo with office, commercial, retail, improve the park, etc.

And the property is a block or so from culmer metro stop.

Anonymous
8 months ago

Amazing news! Miami winning

AXXXA
8 months ago

How is this winning? You’re making it more expensive for yourself to live here. Moron

Anonymous
8 months ago

He’s marking it more lucrative to live here, adding jobs and opportunities to get out of a neighborhood of shacks. There will always be poor areas within reach of the City, just not in the City.

Go Miami go!
8 months ago

Everyone running from the N.E. broken over taxed crime infested states.

Local Elections Matter
8 months ago

Rezone the NW 7th Ave, 54th, 62nd, and 79th St Corridors, Change the 35 FT Height Restriction at MIMo Joke to at least 70.

Anonymous
8 months ago

Love MiMo!

Anonymous
8 months ago

MiMo is at 35 feet for that reason. Plenty of space to build taller in Lemon City and Little River, and beneficial if Coastal Link stops are added.

305
8 months ago

Its awful to see prople frozen out of the opportunity to own property

Travis
8 months ago

Do you think apartment prices will come at all this year or next? We are moving from Chicago to Miami within the next 15 months.. thanks ….

The voice of America
8 months ago

I mean if we don’t build supply then demand will just get even worse. It’s not that hard Miami government officials. Let the developers build!

Anonymous
8 months ago

‘winning streak’ – the authors on this site are shameless. I mean i know you are fans and homers but seriously, you don’t have to spin everthing – there are 2 sides to every story. Funny how when it is the story in another city these folks spin it as a negative thing.

Anonymous
8 months ago

Numero Uno! Number one baby!

Professional Engineer
8 months ago

Start tearing down single family homes! They take up way too much space.

Jones
8 months ago

what? lol

Melo is sigma and Chad
8 months ago

they’re plenty of empty lots still

Anonymous
8 months ago

Think they mean around the nice areas.

Anonymous
8 months ago

If only you could afford a single family house, you’d learn their many benefits.

Anonymous
8 months ago

Herp derp, ban single-family homes, making existing ones more valuable and harder for developers to acquire to build multi-family housing. Sure Jan.

Anonymous
8 months ago

Snatch em all up. Every single one and combine the lots before it’s too expensive.

Anonymous
8 months ago

The gringos are coming

Anonymous
8 months ago

^^could always go back to where you came from and be amongst only your own to satisfy your racist cravings.

Anonymous
8 months ago

English-speaking people are not foreigners or new to Miami. All the streets used to be anglo-Saxon names like “Anderson” Avenue, and the names got renamed to Spanish later. Miami is a beautiful melting pot.

Anonymous
8 months ago

I bet according to him, Miami was a only couple tents before a some people came after a guy with a funny hat and beard took over Cuba.

Anonymous
8 months ago

This is why we need some historical preservation and cultural attractions around the city.

The early settlement legacy may not be known to the last wave of immigrants. We should celebrate all the cultures that are woven into Miamis fabric 🤗

Juan
8 months ago

Case in point the city was founded by Julia DeForest Tuttle, a businesswoman from Ohio, the most “Gringa” you can get.

Anonymous
8 months ago

Don’t worry, you still have your precious Hialeah.

O.K.
8 months ago

You can always move to Puerto Rico.

anon
8 months ago

ironic that the gringos say that when they’re the ones moving to places like miami, mexico city and rincon, PR because they want to live in warmer, more latin cultured regions