Still, median existing condo prices in Miami-Dade reached $445,000 in March, up 291% since 2011, while single‑family medians rose to $674,000, almost triple their 2011 level.
Financing constraints remained acute. Just 0.9% of South Florida condo buildings were approved for FHA loans, compared with far looser conditions in most US metros, pushing many entry‑level borrowers toward private and non‑QM options.
Miami’s multifamily pipeline and Florida’s Live Local Act offered one of the few pressure valves in a tight market.
Southeast Florida led the nation for multifamily construction as of late 2025, with more than 36,000 units underway.
Updated Live Local provisions granted by‑right density to projects that reserved at least 40% of units for households earning up to 120% of area median income.
