Home Insurance in South Miami, Florida
With a median home value of $829,400, South Miami is 79% higher than the Miami-Dade County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in South Miami was built around 1969. About 41% of homes were built before 1960, about 20 points above Miami-Dade County's 21%.
Housing in South Miami breaks down to 56% single-family homes and 34% apartments in buildings with 5+ units.
In South Miami, about 56% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 9%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 60% of occupied homes in South Miami are owner-occupied.
89% of homes in South Miami are primarily heated with electricity.
What's the biggest home insurance risk near South 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 | $829,400 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 60% |
| Share of owner-occupied homes with a mortgage | 56% |
| 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
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)