Miami Beach

Condo pricing in Miami Beach runs a huge span — from $350,000 in the older buildings up to $20 million and beyond for oceanfront penthouses. At trophy addresses such as Faena, Four Seasons, and Surf Club, prime oceanfront units rarely start below $2-3 million.

Very few places rival the range of lifestyle Miami Beach packs in — world-famous beaches, a landmark Art Deco streetscape, dining that holds its own against any major city, and nightlife with a genuinely international pull. If your goal is resort-caliber living stitched into a real urban setting, the bar here is hard to clear.

Every sub-market here has its own character. South Beach lives on nightlife and Art Deco heritage, Mid-Beach is calmer and better suited to families, North Beach carries the most attainable entry prices, Surfside offers upscale residential quiet, and Bal Harbour anchors the ultra-luxury end of the range.

Whether you can rent short-term comes down largely to the specific building and how it is zoned — some permit it freely, others prohibit it outright. On top of building rules, Miami Beach enforces its own vacation rental ordinances, so before buying for investment you need to check both the condo association bylaws and the city regulations.

Expect annual property taxes in Miami Beach to sit near 2% of assessed value. On a $1 million condo, that works out to roughly $20,000 a year. If it is your primary residence, the homestead exemption can bring that number down.