By MIAMI REALTORS Chief Economist Gay Cororaton
Key Takeaways
- Single-family homeowners who purchased a home 15 years ago in 2011 Q1 have over $500,000 in housing wealth in Miami-Dade County ($589,400), Palm Beach County ($542,800), and Broward County ($509,300), higher than nationally ($308,400).
- Condominium/townhome owners who purchased a property 15 years ago typically have higher housing wealth in Miami-Dade County ($365,300) and Palm Beach County ($276,200) compared to nationally ($270,800).
- Single-family and condominium/townhome prices are likely to continue to trend upward over time due to sustained wealth and talent migration and auspicious regulatory reforms that improve transparency and lowers insurance costs for condo owners.
Download the 2026 Q1 South Florida Housing Wealth Report HERE.
Single-family homebuyers who purchased a home 15 years ago have over $500,000 in housing wealth in the South Florida Tri-County area compared to $308,400 nationally
About 80% of housing wealth or home equity is created through price appreciation. Over the past 15 years, the median single-family sales prices in all South Florida counties rose at compounded annual growth rates that are higher than the increase of the US median price at 6.4%. The annual growth was strongest in Miami-Dade County (10.6%) followed by St. Lucie County (10.1%), Broward County (8.7%), Palm Beach County (8.5%, and Martin County (6.9%).
In seven municipalities in South Florida, single-family homeowners who purchased a hole 15 years ago are likely to have accumulated wealth from price appreciation alone of a million dollars or more! These are Palm Beach ($10.7 million), Miami Beach ($2.9 million), Pinecrest ($2.0 million), Coral Gables ($1.4 million), South Miami ($1.3 million), Southwest Ranches ($1.3 million), and Boca Raton ($1.0 million).
Combined with the downpayment and the principal payments that homeowners made over time, Tri-County area buyers who purchased a single-family home 15 years ago typically have over $500,000 in home equity as of 2026 Q1 compared to $308,400 nationally: Miami-Dade County ($589,400), Palm Beach County ($542,800), Broward County ($509,300), Martin County ($436,200), and St. Lucie County ($308,400).
Miami-Dade condo/townhome buyers who purchased a property after the Great Recession in 2011 saw the largest housing equity of $365,300 compared to $270,800 nationally
Over the past 15 years, the median condominium/townhome sales prices in all South Florida counties rose at compounded annual growth rates that are at par or higher than the 6% increase nationally. Miami-Dade County median prices rose at the fastest annual rate (10.6%), followed by Palm Beach County (10.2%), Broward County (9.2%), Martin County (8.4%), and St. Lucie County (6.0%).
In two municipalities, condominium/townhome owners who purchased a property 15 years ago have likely accumulated over a million dollars in wealth from home price appreciation alone, which are the town of Palm Beach ($1.6 million) and the village of Bal Harbour ($1.2 million).
Combined with the downpayment and the principal payments that homeowners made over time, Miami-Dade condo/townhome owners who purchased the property 15 years ago have the highest home equity ($365,300), followed by Palm Beach County ($276,200), St. Lucie County ($222,600), Broward County ($217,900), and Martin County ($208,600).
Outlook: Prices are likely to increase due to wealth and talent migration and auspicious regulatory changes
Several factors underpin a positive outlook for single-family and condominium/townhome prices to increase over time. Sustained wealth migration into South Florida from retirees, corporation relocations, and job movers particularly from high tax states like New York and California will bolster demand and prices. Improved access of buyers to condo financial information including the structural integrity reserve studies will continue to ease buyer anxiety and coax buyers back into the market. A new FHFA rule announced on March 18, 2026 is likely to lower insurance costs. The new rule allows Fannie Mae and Freddie Mae to accept cash value coverage for roofs (insurance premiums/payout is based on the current roof condition) instead of full replacement cost coverage (insurance premium/payout is based on the cost to replace the roof), resulting in lower insurance costs for homeowners.
