clock menu more-arrow no yes mobile

Filed under:

Miami’s real estate market is rotten, per study

Miami ranks 60th of 62 major cities

The real estate markets in Miami and Miami Beach fared very poorly in a recently WalletHub study looking at the “Best Real-Estate Markets” of 2017, with both cities ranking in the bottom 5 percent of the 300 cities analyzed.

Miami ranked 60th among 62 “large cities” while Miami Beach ranked 138th among 140 “small cities.” The study compared the 300 cities across 21 key metrics of “housing-market attractiveness and economic strength,” with some examples being Home Value Forecast, Vacancy Rate, and Housing Affordability.

Three small cities in north Texas topped the overall list: Frisco, McKinney and Allen.

Among some specific categories, Miami Beach ranked 280th in “highest average number of days until a house is sold” while Miramar, Miami Gardens, and Sunrise were all tied for worst in the “most unsold homes owned by banks.”

Check out the full study and methodology over here. A chart highlighting the Top 5 cities across varying sizes is below.