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Miami, FL Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$2,989
Monthly Cash Flow
-$568
Principal + Equity
$3,714
Annual Total Gain
$37,751
Cash on Cash
-4.71%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$223
Occupancy Rate
64.52%
Monthly Revenue
$3,154
Monthly Cash Flow
-$876
Principal + Equity
$3,714
Annual Total Gain
$34,059
Cash on Cash %
-7.27%
Net ROI %
Market Health & Growth
Median Income
$59,390
Population
446,663
LTR Renter %
69.27%
Forecast (1 yr)
1.99%
Appreciation (1 yr)
-2.99%
Appreciation (5 yr)
58.77%
Appreciation (10 yr)
92.84%
Job Growth
2.19%
LTR Rentability
Low
STR Demand
59
STR Rentals
15,043
Top Public Schools
ASchool for Advanced Studies - Homestead
ASchool for Advanced Studies - North
A
A
A
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Cities to Retire in America
#32out of 229 markets
Healthiest Places to Live in America
#50out of 230 markets
Best Cities for Young Professionals in America
#33out of 229 markets
B
Public School
D
Crime And Safety
D
Housing
A
Nightlife
B-
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Miami, FL.
In Miami, FL, Short Term Rental (STR) regulations are governed by the city's zoning code and the Miami-Dade County Code. Investors looking to purchase a property for short term rental purposes should be aware of the following regulations:
1. Zoning Restrictions: Miami has specific zoning regulations that dictate where short term rentals are allowed. Investors should check the zoning of the property they are interested in to ensure that short term rentals are permitted in that area.
2. Licensing Requirements: Property owners in Miami are required to obtain a business tax receipt and a resort tax account in order to legally operate a short term rental. Additionally, property owners must comply with all state and local licensing requirements.
3. Length of Stay Restrictions: Miami has restrictions on the length of stay for short term rentals. In some areas, rentals are limited to a minimum of 7 days, while in others, rentals are limited to a minimum of 30 days.
4. Occupancy Limits: Miami has occupancy limits for short term rentals, which vary depending on the size of the property. Investors should be aware of these limits and ensure that they comply with them.
5. Noise and Nuisance Regulations: Miami has strict noise and nuisance regulations that property owners must adhere to. Investors should be aware of these regulations and take steps to ensure that their guests comply with them.
6. Homeowner's Association (HOA) Rules: If the property is located in a community with a homeowner's association, investors should review the HOA rules and regulations regarding short term rentals. Some HOAs may have restrictions or prohibitions on short term rentals.
7. Insurance Requirements: Property owners in Miami are required to carry liability insurance for short term rentals. Investors should ensure that they have the appropriate insurance coverage in place before renting out their property.
Overall, investors should thoroughly research and understand the Short Term Rental regulations in Miami before purchasing a property for this purpose. Failure to comply with these regulations can result in fines, penalties, and legal issues. It is recommended to consult with a real estate attorney or property management company familiar with local regulations to ensure compliance.
Market Trends Over Time
Explore 25 years of market data for Miami, FL, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Miami, FL.
The LTR Genie Score of Miami, FL is 69 and STR Genie Score is 71, indicating a moderate to high level of attractiveness for both long-term and short-term rental investments. The LTR Rentability being low may be attributed to the relatively low LTR Rent Growth Rate of 0.0542%, while the STR Net ROI of 23.56% suggests a strong potential for short-term rental profitability. The 1-Year Price Appreciation Forecast of 1.99% also indicates a stable market with potential for growth.
Miami, FL is a popular tourist destination known for its beautiful beaches, vibrant nightlife, and diverse cultural scene. The city's strong tourism industry makes it an attractive market for short-term rental investments, while its growing population and stable real estate market also present opportunities for long-term rental investments.
Based on the metrics provided, Miami, FL appears to be a favorable market for both long-term and short-term rental investments. Real estate investors may consider diversifying their portfolio by investing in both rental strategies to take advantage of the city's strong tourism industry and stable real estate market. It is recommended to conduct further research and due diligence to determine the best investment strategy based on individual goals and risk tolerance.
