The median rent in Miami-Dade is $2,900 per month, which is 2.29% lower than a year ago and 1.09% below August, according to the September 2026 indicators from Realtor.com.
For those looking to rent or buy a home, the figures provide a reference regarding the market situation, although there are significant differences between Miami, Hialeah, Doral, Kendall, and Homestead.
A decrease in rental prices across the county does not mean that all properties are cheaper or that sales prices are dropping at the same rate.
How much does it cost to rent and buy in Miami, Hialeah, Doral, Kendall, and Homestead?
The data from September shows considerable differences between the five analyzed areas. All amounts correspond to medians, meaning the central value of each dataset and not the price of a specific property.
In Miami, the median rent stands at $2,939 per month, which is 1.38% lower than a year ago. The median listing price for homes is $620,000, while the median sale price reaches $564,000.
In Hialeah, the median rent is $2,412 per month, with a year-over-year decline of 3.52%. The listed homes have a median price of $450,000, and sales record a median of $464,000.
Doral reports a median rent of $2,920 per month and shows the largest year-over-year decline among the five areas analyzed: 5.81%. The advertised median price is $560,000 and the median selling price is $675,000.
In Kendall, the median rent drops to $2,400 per month, 4% lower than a year ago. The median listing price is $415,000, while the median price of closed transactions reaches $585,000.
Finally, in Homestead, the median rent remains at $2,500 per month, unchanged since September 2025. The listed median price is $449,900 and the median selling price is $482,500.
Among these five areas, Kendall and Hialeah have the lowest median rents, while Miami records the highest. Doral, on the other hand, shows the largest year-over-year decrease in rent.
It is also important to distinguish between annual and monthly changes. In Hialeah, for example, the median rent decreased by 3.52% compared to September 2025, but increased by 0.50% compared to August. Both movements can occur simultaneously.
The advertised price and the selling price are not the same
In the Miami-Dade area, the listed median price is $589,000, which is 2.37% less than a year ago. However, the median of the homes actually sold stands at $549,900 and has virtually not changed compared to 2025, with a decline of just 0.02%.
The difference is important: the advertised price reflects how much is being asked for properties currently on the market, while the selling price corresponds to transactions that have already been completed.
Since they are distinct sets of housing, it is not possible to subtract both medians to calculate how much a buyer negotiated or saved.
This helps to understand cases like Doral or Kendall, where the median sales exceed the median of the listings. This figure does not mean that buyers are necessarily paying more than what is being asked for those same properties.
Additionally, the residential database of Realtor.com includes single-family homes, condominiums, and townhouses. The composition of the properties listed and sold may vary in each period.
The announced prices also do not evolve uniformly across the county. Compared to September 2025, they decrease by 0.96% in Miami, 6.06% in Hialeah, 8.79% in Kendall, and 3.65% in Homestead. Doral is moving in the opposite direction, with a year-over-year increase of 1.70%.
What does it mean for Miami-Dade to be a buyer's market?
Realtor.com classifies Miami-Dade in September as a buyers' market, a situation where the supply of homes exceeds the demand.
In the county as a whole, properties are selling an average of 3.21% below the asking price, and the ratio between the selling price and the listed price is around 97%.
The median duration of ads in the market is 88 days, 6.32% less than in September 2025.
These indicators describe the overall behavior of the market, but they do not mean that all homes are sold at a discount. The negotiation margin depends on the property, its location, condition, initial price, and the interest it generates among potential buyers.
The conditions also vary by area. Realtor.com identifies Miami, Doral, and Homestead as buyer's markets, while Hialeah and Kendall are recognized as balanced markets, where there is a more equal relationship between supply and demand.
What to check before renting or buying a home
For those seeking rental options, medians serve as a reference for comparing prices, but they do not allow for predicting how much a specific apartment will cost. The most useful approach is to compare similar properties in terms of size, location, condition, and amenities.
Before renting, it's also advisable to calculate the total expenditure: monthly rent, deposit, initial expenses, and included or excluded services. A home with a seemingly lower rent may have different conditions compared to another.
For those looking to buy, the price of the property does not equate to the monthly cost of maintaining it.
The Consumer Financial Protection Bureau (CFPB) reminds us that, in addition to the principal and interest of a mortgage, property taxes, homeowners insurance, and, when applicable, mortgage insurance should also be taken into account.
In condominiums and communities with homeowners associations, there may also be additional fees. According to the CFPB guide on association fees, these payments are typically made separately and are not included in the monthly payment made to the mortgage manager.
In summary, the data for September shows a decrease in rents and advertised prices in much of Miami-Dade, but with significant differences between areas. To determine if a home is truly affordable, it is necessary to review the total cost, the conditions of the rent or financing, and the budget available for each household.
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