The North Miami market

Market report · City · May 2026

The North Miami market, in numbers

Homes in North Miami typically sell in about 294 days. With 172.5 months of inventory, it’s a buyer’s market.

Some comparisons are hidden until at least 3 transactions close in a month. Medians below are drawn from very small samples — treat them as indicative.

Median sale price

$310k

↓ −15.1% MoM

2 sales closed in May 2026

Low sample

Median rent

$3,750/mo

↑ +11.9% MoM↑ +5.9% YoY

5 leases closed in Jul 2026

Time to sell

294 days

typical days on market

Low sample

Days from listing to going under contract.

Months of inventory

172.5 mo

buyer’s market

Low sample

Active listings divided by the monthly sales pace. Under 4 months favors sellers; over 6 favors buyers.

Your questions, answered

Straight answers from North Miami’s closed transactions.

What does a home here cost?

The median sale closed at $310k in May 2026. Typical sales ranged $301k–$319k.

What income do you need to buy here?

At a 6.5% 30-year mortgage with 20% down, the median home runs about $3,471/mo including taxes and HOA — comfortable at a household income around $139k a year, using the 30% rule. Renting instead costs $3,750/mo.

Is now a good time to buy?

172.5 months of inventory points to a buyer’s market.

How fast do homes sell?

About 294 days from listing to contract in May 2026. The pace picks up toward October and slows around January.

How much room is there to negotiate?

Not enough closed sales this month to measure — the price-cut chart below is the best proxy.

When is the best time to list?

Closings peak in October and bottom out around January. Listing four to six weeks ahead of the peak historically gets the most eyes.

Is it a good rental investment?

Yield needs at least 3 closed sales and 3 closed leases in a month — this area doesn’t clear that bar yet.

Buying vs renting

Price-to-rent ratio is 6.9 — buying typically starts to beat renting after roughly 3–4 years here.

To buy — median sale price

Sale price, $

$310k↓ −15.1% MoM

May 2026 — median $310k · 2 sales · 294 days on market · low sample

$300k

$400k

$500k

$600k

Aug ’25

Oct ’25

Dec ’25

Feb ’26

Apr ’26

Jun ’26

To rent — median monthly rent

Monthly rent, $

$3,750/mo↑ +11.9% MoM↑ +5.9% YoY

Jul 2026 — median $3,750/mo · 5 leases · 59 days on market

$2,500

$3,000

$3,500

$4,000

$4,500

Aug ’25

Oct ’25

Dec ’25

Feb ’26

Apr ’26

Jun ’26

MedianTypical range (5th–95th percentile)3+ closingsUnder 3 (low sample)No closings (activity only)Tap or hover any month for its numbers.

What each size costs

Medians over the last 12 months.

Beds

To buy

To rent

Volume

2 beds

$376k

$3,212/mo

25 closed

3 beds

$449k

$3,750/mo

18 closed

What sells here

Sales mix and median price by property type, last 12 months.

Condo

$398k

100% of sales · 14 closed

Market depth

Supply and demand

Listings per month

Jul 2026 — 0 closed · 8 new · 115 active

100

150

Aug ’24

Nov ’24

Feb ’25

May ’25

Aug ’25

Nov ’25

Feb ’26

May ’26

ClosedActive (on market)New listings

Seasonality

Avg closings

Listings move fastest in October

Average closings by calendar month, drawn from at least two years of history.

Price-cut pressure

% of active listings

Jul 2026 — 25% of active listings cut · median cut 7.1%

10%

20%

30%

40%

Aug ’24

Nov ’24

Feb ’25

May ’25

Aug ’25

Nov ’25

Feb ’26

May ’26

3-month averageSingle month

HOA fees per sqft

$ per sqft, monthly

$0.79 per sqft · May 2026

$0.70

$0.75

$0.80

$0.85

$0.90

Aug ’24

Nov ’24

Feb ’25

May ’25

Aug ’25

Nov ’25

Feb ’26

May ’26

Median monthly HOA fee per square foot among closed sales.

Homes for sale in North Miami →Rentals in North Miami →

Based on 94 closed transactions over the period shown · Updated Aug 9, 2026 · Medians drawn from fewer than 3 closings are flagged as low sample.