Miramar, Florida

The median house value in Miramar, Florida is $291,400. The value of houses has risen 9.3 percent in the last year. And it has been forecasted that the worth of houses will increase 4.5 percent in 2018.

In the Miramar market, the median list cost per square foot is $172. The Miami-Fort Lauderdale Metro area per square foot list average cost is higher. It’s $214. Also in Miramar, $329,000 is the cost median of houses presently listed. $309,000 is the cost median of houses that have sold.

Miramar’s median cost for rent $1,950. The Miami-Fort Lauderdale Metro area has a higher median cost of rent of $2,000.

The rate of foreclosures has an effect on the value of real estate. The higher the foreclosure rate, the lower the value of real estate for a particular area.

Mortgage delinquency is defined as a homeowner missing a payment on their mortgage and is the first thing that occurs in the process of foreclosure. The number of homeowners delinquent on their mortgages in Miramar is 3.0 percent. Nationally, 1.6 percent of homeowners are delinquent on their mortgages.

The recession of 2008 had a very negative effect on the value of houses in the United States. It caused house prices to decrease by more than 20 percent in the nation.

Many homeowners are presently underwater regarding their mortgages because of that recession. Being underwater on a mortgage means that the mortgage debt is bigger than the house value.

In Miramar, 10.5 percent of owners of houses are underwater on their mortgages. The metro area of Miami-Fort Lauderdale has a lower percent of owners of houses being underwater on their mortgages. It’s 9.9 percent.

Miramar, Florida has an annual median household income of $64,632.