Rent vs buy in Miramar, FL
Typical rent is $2,685 /mo, while a typical home costs $519,502 in Miramar, Florida.
Over 7 years, buying comes out ahead by $16k
Today's mortgage rate, 20% down and Miramar's typical rent and home value form the basis. Break-even arrives in year 6.
This is an opinion, clearly labeled, with the math shown. Estimates, not quotes. The stamp updates whenever you change a number.
- How far ahead owning is
- $16k after 7 years
- Break-even point
- In year 6 when owning catches up
- The true cost of ownership
- Monthly cost: $4,702 /mo year 1, against $2,685 rent
Change my numbers
Miramar's typical rent and home value determine the stamp. Your rent, your price and your years have the power to flip it.
Do your numbers differ from the city's?
Enter your own rent, price and down payment. It changes with those numbers.
Is it cheaper to rent or buy in Miramar?
Over 7 years, buying saves $16,179 after counting the money you get back when you sell. In year 6, owning's net cost falls below renting's and remains lower.
The renting option. The owning option. Net cost by year so far.
Miramar: average rent vs mortgage payment
At Miramar's typical price, here's every monthly cost for year 1, not just rent and the mortgage.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,685 | All of it, every month |
| Mortgage payment | $2,832 | $2,496 of it is interest in year 1 |
| Property tax | $411 | 0.95% of the value a year |
| Insurance | $300 | Census median for the city |
| Upkeep | $433 | 1% of the value a year |
| Owning, cash out | $3,977 | $336 of it builds equity |
| Lost return on the down payment | $844 | What the cash would earn each year at 8.3% |
| Buying costs, spread out | $216 | 3.5% of the price over 7 years |
| True cost of owning | $4,702 | Subtract the equity part from cash out, then add the two lines above |
The numbers behind Miramar's verdict
- Typical home value: Zillow: ZHVI, September 2026
- $519,502
- Typical rent: Zillow: ZORI, September 2026
- $2,685 /mo
- Down payment: 20% avoids private mortgage insurance, and the engine doesn't model that insurance
- 20%
- Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth for home prices: FHFA house price index for Florida, 1995 to 2025
- 5.4% each year
- Rent growth: yearly CPI growth for rent of primary residence, 2006 to 2026
- 3.5% each year
- Savings return: 60% S&P 500 including dividends, 40% 10-year Treasuries, yearly rebalance, 1928 through 2025
- Each year: 8.3%
- Property tax: Census ACS 2020-2024, Miramar
- 0.95% of the value
- Insurance for the home: Census ACS 2020-2024, Miramar
- Monthly cost: $300
- UpkeepFannie Mae, low end of 1% to 4%
- Each year: 1% of value
- Buying costs Freddie Mac, middle of 2% to 5%
- The 3.5% applies to the price.
- Sale expensesAgent commission plus closing costs
- 6% of the price.
Within Miramar, what would make it flip?
Each line shows where the 7-year verdict for Miramar changes, while every other setting stays the same.
Renting comes out ahead when
- Home prices grow under 5.0% annually (we use Florida’s long-run rate of 5.4%).
- A mortgage rate above 7.79% continues.
- Renting a similar home costs under $2,510 each month (typical here: $2,685).
- You relocate before year 6.
Buying comes out ahead when
- Home prices rise by more than 5.0% each year.
- You secure a mortgage rate under 7.79%; today's rate is 7.24%.
- The same home would cost over $2,510 monthly to rent.
- You remain for 6 years or more.
Miramar compared with the other 812 cities
| Measure | Miramar | Median city |
|---|---|---|
| Typical home value | $519,502 | $422,451 |
| Typical rent | $2,685 /mo | $1,837 /mo |
| Price-to-rent ratio | 16.1 (#546 of 813) | 18.5 |
| Home prices, last 10 years | 6.8% a year | 6.2% a year |
| Rents, last 5 years | 4% a year | 4% a year |
| Property tax | 0.95% | 0.87% |
| Households that rent | 31% | 42% |
Data sources: Zillow ZHVI, ZORI, Census ACS 2020-2024
Other Florida cities
- Buy. Jacksonville, FL. Buying comes out ahead by $27k.
- Buy. Miami, FL. Buying comes out ahead by $27k.
- Buy. Tampa, FL. Buying comes out ahead by $19k.
- Buy. Orlando, FL. Buying comes out ahead by $17k.
- Buy. In St. Petersburg, FL, buying leads by $41k.
- Buy. In Port St. Lucie, FL, buying leads by $48k.
- Buy. Hialeah, FL. Buying comes out ahead by $37k.
- Buy. Cape Coral, FL. Buying comes out ahead by $36k.
- Buy. Tallahassee, FL. Buying comes out ahead by $11k.
- Buy. Fort Lauderdale, FL. Buying comes out ahead by $25k.
- Buying comes out ahead by $22k in Pembroke Pines, FL.
- Buying comes out ahead by $17k in Hollywood, FL.