“South Florida by the numbers” is a web feature that catalogues the most notable, quirky and surprising real estate statistics.
For years, analysts have observed South Florida real estate as if it were one market moving in one direction. Increasingly, that assumption has never been less accurate.
While affluent buyers fuel record-breaking activity at the top of the luxury sector, many entry-level and middle-income buyers are facing a very different reality, shaped by affordability challenges, higher borrowing costs, rising insurance premiums, relentless inflation and tougher financial decisions.
The result is a growing divide that is reshaping everything from pricing and inventory to buyer behavior and long-term migration patterns.
We take a closer look at the widening gap between two very different housing markets in this edition of South Florida by the numbers.
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Miami’s cost-of-living outpaced that of New York city for the first time, according to the Bureau of Economic Analysis. Even with no state income tax, high costs for insurance and property taxes, coupled with lower average salaries, disproportionately affect Miami residents. Since 2019, South Florida’s consumer price index has increased by 36 percent, more than any other metro area tracked by the U.S. Bureau of Labor Statistics, except for Tampa.
$1.36 Million
The difference between the median listing price ($799,000) and the mean listing price ($2.16 million) in the Miami-Fort Lauderdale-Pompano Beach metro, according to HousingWire. That staggering 170 percent gap illustrates just how heavily South Florida’s luxury market is influencing the region’s overall housing statistics. At the same time, tightening inventory has added further upward pressure on prices, with active single-family home listings falling 29 percent year-over-year to 13,319.
Nearly 9X
Disparity between luxury and non-luxury home prices in West Palm Beach and Miami, earning these South Florida metros the No. 1 and 2 ranks in America, according to Redfin. Homebuyers are not the only ones feeling this pain, as local developers also report increased competition and costs for land in desirable areas.
10,115
Record number of residents who left Miami between 2024 and 2025, marking the third-largest population decline among all U.S. counties during that period. While billionaires flock to the region, departing residents cite years of rising living, housing, health care and insurance costs as their reasons for relocating, with political and immigration policy changes also contributing to their decision.
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Number of spots Florida fell (from No. 3 to No. 8) in CNBC’s annual ranking of the top states for business. While the Sunshine State earned an A-plus in workforce and an A in access to capital, it lost ground in areas like business friendliness, infrastructure, economy and quality of life. It fell the farthest in infrastructure, from 16th to 32nd. Florida’s worst score was a D-minus for cost of living, ranking 48 out of 50 states.
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.
