How do property taxes work in South Miami?

Florida has no state income tax, but local property tax runs about 1-2% of assessed value yearly. Exemptions like Homestead reduce this amount.

How long does it take to close a purchase in South Miami?

Typically 30-45 days, depending on financing. Cash can close in 14 days. Inspection and title search are the critical steps.

Should I buy with HOA or without HOA in South Miami?

Depends on lifestyle. HOA covers common-area maintenance and rules but adds amenities and a controlled neighborhood. No-HOA means more freedom but full maintenance responsibility.

Homes for Rent in South Miami, FL

28 rentals in South Miami

Market overview

Total active

Avg price

$1,875,772.22

Median price

$1,300,000.00

Price range

$376,000.00 – $6,350,000.00

Avg $/sqft

$482.00

Luxury (1M+)

In South Miami, the gap between a good purchase and an excellent one is in knowing the micro-markets: neighborhood, community, distance to water, and HOA rules.

Healthy rotation in the mid-range price segment, ideal for first-time buyers with a 5-10 year horizon.

Frequently asked questions

How do property taxes work in South Miami?: Florida has no state income tax, but local property tax runs about 1-2% of assessed value yearly. Exemptions like Homestead reduce this amount.
How long does it take to close a purchase in South Miami?: Typically 30-45 days, depending on financing. Cash can close in 14 days. Inspection and title search are the critical steps.
Should I buy with HOA or without HOA in South Miami?: Depends on lifestyle. HOA covers common-area maintenance and rules but adds amenities and a controlled neighborhood. No-HOA means more freedom but full maintenance responsibility.