Guide · Updated:
Rent or buy?
In Brickell the median rent is $3,124 a month and the median Miami-Dade condo costs $408,000; if you will live in it, the homestead exemption and the 3% annual cap change the maths.
Sources: U.S. Census Bureau, ACS 2020–2024 5-year, by ZIP code (via Census Reporter) · MIAMI REALTORS®, August 2026 report (Miami-Dade) · U.S. Census Bureau, QuickFacts (2020–2024) · checked Sep 30, 2026
Ask for a shortlist and documentsYour message includes this guide topic.Source: U.S. Census Bureau, QuickFacts (2020–2024) · checked Sep 30, 2026
What does renting in Brickell cost?
Median gross rent in ZIP 33131 is $3,124 a month; across Miami-Dade, $1,829.
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According to the Census American Community Survey 2020–2024, median gross rent — rent plus basic utilities — is $3,124 in 33131 and $1,829 countywide. In Brickell 63% of homes are renter-occupied; across Miami-Dade, owners occupy 52.2%. For an investor that means rental demand; for someone moving here, that renting is normal, not a phase.
Sources: U.S. Census Bureau, ACS 2020–2024 5-year, by ZIP code (via Census Reporter) · U.S. Census Bureau, QuickFacts (2020–2024) · checked Sep 30, 2026
What weighs on the buying side?
Price, interest rate, association fee and property tax. If it is your primary home, the assessed value rises at most 3% a year.
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The median Miami-Dade condo sold for $408,000 in August 2026 (MIAMI REALTORS®) and the 30-year average rate was 7.03% (Freddie Mac). If the home is your permanent residence, section 193.155 caps the annual rise in assessed value at the lower of 3% or inflation. If it is not, the cap is 10% (s. 193.1555). That gap, year after year, is one of the things that most changes the long-run maths.
Sources: MIAMI REALTORS®, August 2026 report (Miami-Dade) · Freddie Mac, Primary Mortgage Market Survey · Florida Statutes, s. 193.155 · checked Sep 30, 2026
And if I buy to rent it out?
Then the building's rules matter: they can limit or ban rentals, and that decides returns before price does.
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A condominium can restrict rentals in its declaration, and section 718.110(13) says that if it amends its rules to limit them, the change binds those who consented and anyone who buys afterwards. If you plan short stays, licensing and tourist taxes apply too. Ask Carolina which buildings allow it before you look at prices.
Source: Florida Statutes, s. 718.110(13) · checked Sep 30, 2026
This summarises what the law says and what the cited sources publish; it is not legal or tax advice. Before you decide, confirm it with a Florida-licensed attorney or CPA.
Written by Carolina Suárez Rivas, Florida-licensed real estate agent (SL3336060).