Mortgage Rates in Miami, Florida: 2026 Guide
30-year fixed: 6.75%. Median home price: $520,000.
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Current Mortgage Rates in Miami
| Loan Type | Rate | APR | Monthly Payment* |
|---|---|---|---|
| 30-Year Fixed | 6.75% | 6.830% | $2,698/mo |
| 15-Year Fixed | 6.23% | 6.300% | $3,562/mo |
| 5/1 ARM | 6.13% | 6.480% | $2,529/mo |
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6.75%
Avg 30yr Rate
$520,000
Median Home Price
442K
Population
0.89%
Property Tax
Median Home Prices in Miami
The median home price in Miami is $520,000, above the Florida state median of $410,000. Neighborhoods like Coconut Grove, Coral Gables, and Brickell command premium prices.
Cost of Living & Property Taxes
Florida has no state income tax. Property tax rate: 0.89%. Annual taxes: $4,628.
Miami Market Insights
Miami’s housing market is influenced by international capital, particularly from Latin America and Europe. The luxury condominium market in Brickell, South Beach, and Coral Gables continues to attract wealthy buyers, while more moderately priced single-family homes can be found in suburbs like Kendall and Cutler Bay. Florida’s lack of state income tax and warm climate keep demand strong year-round.
Frequently Asked Questions
What is the average mortgage rate in Miami, Florida?+
As of mid-2026, the average 30-year fixed rate in Miami is 6.75%.
How much down payment do I need for a home in Miami?+
On a median-priced home of $520,000, 20% down is $104,000.
What are property taxes like in Miami?+
Florida has no state income tax. Property tax rate is 0.89%. Annual taxes: $4,628.