It goes without saying that the coronavirus pandemic sparked a wave of uncertainty across myriad industries, and no other market has quite felt its impact like that of real estate.
The pandemic became a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. Since then, increasing mortgage rates have slowed growth, with prices even declining in some places. But some areas are still seeing price jumps compared to the year before.
compiled a list of cities with the fastest-growing home prices in the Miami-Fort Lauderdale-Pompano Beach, FL metro area using data from . Cities are ranked by 1-year price change as of May 2023. The typical home value in the United States increased over the last year by 0.9% to $346,856. Data was available for 130 cities and towns in Miami.
You may also like: Highest-rated breakfast restaurants in the Miami area by diners
#30. Fountainbleau, FL
- 1-year price change: +$39,906 (+14.8%)
- 5-year price change: +$125,601 (+68.4%)
- Typical home value: $309,184 (#117 most expensive city in metro)
#29. North Miami, FL
- 1-year price change: +$40,089 (+11.6%)
- 5-year price change: +$192,184 (+99.4%)
- Typical home value: $385,545 (#84 most expensive city in metro)
#28. Gulf Stream, FL
- 1-year price change: +$40,600 (+1.7%)
- 5-year price change: +$1,200,782 (+97.9%)
- Typical home value: $2,427,762 (#6 most expensive city in metro)
#27. Aventura, FL
- 1-year price change: +$42,641 (+9.2%)
- 5-year price change: +$193,558 (+62.2%)
- Typical home value: $504,864 (#52 most expensive city in metro)
#25. Miami, FL
- 1-year price change: +$43,600 (+8.5%)
- 5-year price change: +$222,693 (+67.3%)
- Typical home value: $553,743 (#45 most expensive city in metro)
#24. Doral, FL
- 1-year price change: +$44,792 (+9.6%)
- 5-year price change: +$190,729 (+59.1%)
- Typical home value: $513,432 (#51 most expensive city in metro)
#23. Miami Shores, FL
- 1-year price change: +$45,458 (+4.8%)
- 5-year price change: +$438,760 (+80.5%)
- Typical home value: $983,624 (#17 most expensive city in metro)
#22. Ocean Ridge, FL
- 1-year price change: +$46,110 (+3.8%)
- 5-year price change: +$643,972 (+104.4%)
- Typical home value: $1,260,728 (#13 most expensive city in metro)
#21. Sunny Isles Beach, FL
#20. North Bay Village, FL
- 1-year price change: +$48,032 (+13.1%)
- 5-year price change: +$148,218 (+55.6%)
- Typical home value: $414,732 (#74 most expensive city in metro)
#19. Village of Palmetto Bay, FL
- 1-year price change: +$49,104 (+5.5%)
- 5-year price change: +$380,787 (+68.2%)
- Typical home value: $939,360 (#18 most expensive city in metro)
#18. Mangonia Park, FL
- 1-year price change: +$49,250 (+26.7%)
- 5-year price change: +$125,621 (+116.2%)
- Typical home value: $233,735 (#125 most expensive city in metro)
#17. Southwest Ranches, FL
- 1-year price change: +$49,745 (+4.5%)
- 5-year price change: +$551,526 (+91.7%)
- Typical home value: $1,152,898 (#14 most expensive city in metro)
#15. Biscayne Park, FL
- 1-year price change: +$52,275 (+6.7%)
- 5-year price change: +$341,541 (+69.4%)
- Typical home value: $833,588 (#21 most expensive city in metro)
#14. Palm Beach Shores, FL
- 1-year price change: +$55,711 (+8.6%)
- 5-year price change: +$341,644 (+94.8%)
- Typical home value: $702,206 (#25 most expensive city in metro)
#13. Bay Harbor Islands, FL
- 1-year price change: +$61,871 (+11.5%)
- 5-year price change: +$248,217 (+70.2%)
- Typical home value: $602,035 (#35 most expensive city in metro)
#12. Key Biscayne, FL
- 1-year price change: +$63,529 (+4.4%)
- 5-year price change: +$373,095 (+32.6%)
- Typical home value: $1,517,123 (#11 most expensive city in metro)
#10. Surfside, FL
- 1-year price change: +$107,290 (+10.7%)
- 5-year price change: +$491,918 (+79.9%)
- Typical home value: $1,107,225 (#15 most expensive city in metro)
#9. Sea Ranch Lakes, FL
- 1-year price change: +$123,265 (+7.6%)
- 5-year price change: +$845,039 (+92.8%)
- Typical home value: $1,755,361 (#8 most expensive city in metro)
#8. Golden Beach, FL
- 1-year price change: +$130,590 (+2.0%)
- 5-year price change: +$3,424,930 (+106.6%)
- Typical home value: $6,636,421 (#1 most expensive city in metro)
#7. Bal Harbour, FL
- 1-year price change: +$150,039 (+10.2%)
- 5-year price change: +$617,892 (+61.2%)
- Typical home value: $1,628,009 (#10 most expensive city in metro)
#5. Jupiter Inlet Colony, FL
- 1-year price change: +$158,705 (+4.6%)
- 5-year price change: +$1,767,579 (+95.0%)
- Typical home value: $3,628,459 (#3 most expensive city in metro)
#4. Manalapan, FL
- 1-year price change: +$166,856 (+5.4%)
- 5-year price change: +$1,788,267 (+124.0%)
- Typical home value: $3,230,743 (#4 most expensive city in metro)
#3. Palm Beach, FL
- 1-year price change: +$192,617 (+13.1%)
- 5-year price change: +$988,193 (+146.1%)
- Typical home value: $1,664,762 (#9 most expensive city in metro)
#2. Golf, FL
- 1-year price change: +$287,368 (+12.4%)
- 5-year price change: +$1,537,625 (+144.9%)
- Typical home value: $2,598,954 (#5 most expensive city in metro)
