Home Insurance in Miami, Florida
With a median home value of $518,100, Miami is 12% higher than the Miami-Dade County median.
The typical home in Miami was built around 1979. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 30% of homes were built before 1960, about 9 points above Miami-Dade County's 21%.
In Miami, the housing stock is 31% single-family homes, 61% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 57% of owner-occupied homes in Miami have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 31% of occupied homes in Miami are owner-occupied.
In Miami, 91% of homes are primarily heated with electricity.
What's the biggest home insurance risk near Miami? FEMA's National Risk Index points to hurricane (Very High) in Miami-Dade County and Miami-Dade County had 355,123 active NFIP flood policies as of September 2026. See the full Miami-Dade County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Florida, the statewide average premium for a standard HO-3 homeowners policy is $2,779 per year (NAIC, 2023 data).
Key figures
| Median home value | $518,100 |
|---|---|
| Median year built | 1979 |
| Owner-occupied share | 31% |
| Share of owner-occupied homes with a mortgage | 57% |
| Top county hazard | Hurricane (Very High) |
| Active NFIP policies in Miami-Dade County | 355,123 |
| Home insurance premium | $2,779 - statewide average (NAIC, 2023 data) |
Nearby towns
- Miami Beach
- El Portal
- West Miami
- Miami Springs
- Virginia Gardens
- North Bay Village
- Key Biscayne
- Miami Shores
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)