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West Miami

Learn about the people, housing, costs and businesses in West Miami, Florida

Median Home$515,542
Median Rent$2,124/month
Population7,605
Leading IndustriesFinance & Insurance · Education · Information & Media10% finance & insurance
Home Value Growth⬆⬆⬆+26.1% over 2 years
Young Adults33% of residentswell above average
Homeowners54% of occupied units
NotableAmenity Score70/100 · highly walkable area
NotableHighly Educated23% hold a bachelor's degree · top 23% nationally
West Miami
FL

Frequently Asked Questions

What are today's mortgage rates in West Miami?

As of today, the 30-year fixed mortgage rate for West Miami is approximately 6.810% (6.843% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in West Miami?

The median home value in West Miami is $516k. The median monthly rent is $2,124. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in West Miami?

Home values in West Miami have increased 26.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in West Miami?

Based on a typical all-in ownership cost of $1,717/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $74k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in West Miami is $73k/year.

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What industries drive the economy in West Miami?

The largest employment sectors in West Miami are public administration (25%) and healthcare (16%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.