Is Miami condo investment still worth it in 2026? MLS data shows buyers have more choice: in 9 of 13 Miami neighborhoods we track, the median closed price per square foot fell over the 12 months to October 27, 2026. Bay Harbor Islands (+21.4%) and Coconut Grove (+11.6%) and Miami Beach (+0.8%) and South Beach (+0.5%) rose, and active listings equal 7.6 to 26.7 months of sales.
Miami condo market by neighborhood
| Neighborhood | Median closed $/sq ft | Change vs prior 12 months | Median days on market | Sale-to-list | Months of supply | Median HOA $/sq ft/month |
|---|---|---|---|---|---|---|
| Aventura | $324 | -4.2% | 98 | 93.8% | 17.9 | $0.96 |
| Bal Harbour | $941 | -13.8% | 89 | 91.9% | 13.5 | $1.48 |
| Bay Harbor Islands | $537 | 21.4% | 126 | 93.8% | 16.7 | $1.34 |
| Brickell | $590 | -3.9% | 85 | 95.2% | 20.2 | $1.31 |
| Coconut Grove | $863 | 11.6% | 76 | 94.2% | 9.9 | $1.51 |
| Coral Gables | $519 | -3.8% | 72 | 95.3% | 7.6 | $1.25 |
| Downtown Miami | $525 | -8.7% | 79 | 95.7% | 26.7 | $1.29 |
| Edgewater | $637 | -2.2% | 87 | 95.0% | 15.7 | $1.41 |
| Miami Beach | $569 | 0.8% | 83 | 94.5% | 13.5 | $1.34 |
| Midtown Miami | $550 | -6.1% | 55 | 96.8% | 12.6 | $1.41 |
| South Beach | $614 | 0.5% | 84 | 94.6% | 12.0 | $1.39 |
| Sunny Isles Beach | $448 | -14.6% | 104 | 93.5% | 20.6 | $1.17 |
| Surfside | $718 | -3.1% | 77 | 94.2% | 12.9 | $1.34 |
Source: MLS closed sales, October 28, 2025 to October 27, 2026. Updated October 28, 2026. Full Miami condo market data · Methodology
The table is a closed-sale comparison, not an appraisal. It uses the same rolling 12-month period for every neighborhood, so a buyer can see the median price per square foot, marketing time, list-to-sale ratio and supply on one basis. A small number of very large waterfront or penthouse closings can move a neighborhood median, which is why an individual building page is the next useful comparison.
Months of supply combines the active for-sale count with the pace of recent closed sales. It is useful for comparing competition, but it does not predict a particular residence's sale price. Floor height, view direction, interior condition, parking, association fees and the terms of an accepted offer remain residence-specific. The current listing table and the recorded sale history should be read together.
Which Miami neighborhoods have the lowest condo supply?
Months of supply shows how long current listings would take to sell at the last 12 months' pace. The lowest are Coral Gables (7.6), Coconut Grove (9.9), South Beach (12.0), Midtown Miami (12.6). The highest are Downtown Miami (26.7), Sunny Isles Beach (20.6), Brickell (20.2). More months of supply means more listings competing for each buyer.
Brickell vs Sunny Isles Beach: which is better for condo investment?
Neither leads on every measure. Brickell has a higher median price per square foot and a smaller 12-month decline; Sunny Isles Beach is cheaper per square foot and has lower HOA dues, but homes take longer to sell and close further below list price.
| Metric | Brickell condo data | Sunny Isles Beach condo data |
|---|---|---|
| Median closed $/sq ft | $590 | $448 |
| Change vs prior 12 months | -3.9% | -14.6% |
| Closed sales, last 12 months | 939 | 630 |
| Median days on market | 85 | 104 |
| Sale-to-list | 95.2% | 93.5% |
| Months of supply | 20.2 | 20.6 |
| Median HOA $/sq ft/month | $1.31 | $1.17 |
Source: MLS closed sales, October 28, 2025 to October 27, 2026. Updated October 28, 2026. Full Miami condo market data · Methodology
How much are HOA fees for Miami condos?
Across the neighborhoods we track, median HOA fees run from $0.96 to $1.51 per square foot per month. For a 1,000 sq ft condo in Brickell ($1.31), that is about $1,308 a month. Fees can rise when an association must fund structural reserves under Florida law.
What Florida condo safety laws should buyers check?
Condo buildings three or more habitable stories tall need a milestone inspection at 30 years (25 if the local agency requires it) and every 10 years after. Associations must also complete a structural integrity reserve study (SIRS) at least every 10 years. If a milestone inspection is due by December 31, 2026, the SIRS can be done with it, but no later than that date. Ask for both reports before you buy.
Can I cancel a pre-construction condo contract in Florida?
Under Florida Statute 718.503, a buyer can cancel a developer contract by written notice within 15 days after signing and receiving all required documents, and again within 15 days of receiving an amendment that materially changes the offering adversely to the buyer.
Can I rent my Miami condo on Airbnb?
Only if the building's condominium documents permit stays under 30 days, the city allows short-term rentals at that address, and the owner holds the required state and local licenses and tax accounts. Rules differ between the City of Miami and Miami Beach.
Why Invest in Miami Condos?
Miami offers a combination of advantages that few markets in the world can match — and that domestic and international investors increasingly recognise.
No State Income Tax
Florida levies no personal income tax, making it one of the most tax-efficient states for real estate investors. Rental income and capital gains are taxed only at the federal level.
Strong Rental Demand
Miami's year-round tourism, growing tech and finance sectors, and international appeal support rental demand. Review each building's rental rules, current competing supply, and operating costs before making a decision.
International Capital Hub
Miami is a gateway city for Latin American, European, and Middle Eastern capital, with a broad mix of domestic and international buyers.
Branded Residence Premium
Miami has branded residences including Waldorf Astoria, Dolce & Gabbana, Nobu, and Aman. Buyers should compare each building's current MLS listings, fees, and services rather than assume a fixed premium.
Pre-Construction Due Diligence
Pre-construction outcomes vary by project, contract terms, delivery timing, and the resale market at completion. Review offering documents, deposits, carrying costs, and comparable MLS sales before committing.
EB-5 Visa Pathway
Several Miami developments qualify for the EB-5 Immigrant Investor Program, offering a pathway to US permanent residency for qualifying investments of $800,000+.
Miami's Condo Market in 2026
Miami's luxury condominium market includes a broad range of neighborhoods, building types, and price positions. Current MLS listings and recent closed sales are the appropriate starting point for a building-specific comparison.
The pipeline includes branded residences associated with Waldorf Astoria, Dolce & Gabbana, Nobu, Aman, and Cipriani. Compare the services, association costs, and current MLS pricing of each building with nearby alternatives.
For investors, Miami's position as a global capital hub is one consideration among many. Current MLS supply, building rules, ownership costs, and resale competition remain essential to a property-specific decision.
Top Buildings for Investment
A selection of completed and pre-construction buildings across price points. Inclusion is not a recommendation.
Brickell Flatiron
Brickell · Completed 2023
Waldorf Astoria Residences
Downtown Miami · Delivery 2027
888 Brickell by Dolce & Gabbana
Brickell · Delivery 2029
Apogee South Beach
South Beach · Completed 2008
Porsche Design Tower
Sunny Isles Beach · Completed 2017
619 Brickell by Nobu
Brickell · Delivery 2030
Frequently Asked Questions
Common questions from investors considering Miami condominiums.
Is buying a condo in Miami a good investment?
A purchase decision depends on the specific building, residence, financing, association costs, rental rules, and current MLS comparisons. Review recent closed sales and active competition before deciding whether a property fits your objectives.
What is the average rental yield for Miami condos?
Rental performance depends on the building's rules, operating costs, seasonality, management approach, and current competition. Verify permitted rental terms and calculate carrying costs for the specific residence.
Can foreigners buy condos in Miami?
Yes. There are no restrictions on foreign nationals purchasing real estate in Florida. International buyers typically pay in cash or use portfolio loans. Many Miami luxury buildings have a majority of international owners.
What is the best neighborhood in Miami for condo investment?
Different neighborhoods suit different priorities. Compare current MLS availability, commute needs, rental rules, building services, and the price position of individual residences in the areas you are considering.
What are the property taxes on Miami condos?
Property taxes depend on the assessed value and the owner's circumstances. Confirm current taxes and any applicable exemptions with the appropriate public authority or qualified adviser before purchasing.
How does the EB-5 visa relate to Miami real estate?
The EB-5 Immigrant Investor Program allows foreign nationals to obtain US permanent residency through qualifying investments of $800,000+ in designated projects. Several Miami developments are EB-5 eligible. See our dedicated EB-5 guide for details.
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