Miami Faces Housing Affordability Crisis Amid Construction Boom
Miami's housing market is struggling with affordability and new construction, despite a statewide housing boom in Florida. According to the 2026 Realtor.com Metro Report Cards, Miami scored an F grade, with an overall score of 29 out of 100. The city faces unique challenges, including limited land availability due to geographic constraints like the Everglades and the Atlantic Ocean. High land costs, expensive construction, and lengthy permitting processes have led developers to focus on luxury housing, leaving affordable options scarce. Miami's new-construction homes are priced 248% higher than existing homes, making homeownership unattainable for many local residents.