Miami Beach

Prices across the Miami Beach condo market run from $350,000 in 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 start no lower than $2-3 million.

For sheer breadth of lifestyle, Miami Beach has few rivals anywhere — world-famous beaches, a landmark Art Deco streetscape, dining that stands with any major city, and nightlife that pulls in a global crowd. If your goal is resort-caliber living threaded through a true urban setting, little else compares.

Every sub-market carries its own personality: South Beach is all nightlife and Art Deco heritage, Mid-Beach is calmer and family-friendly, North Beach has the most attainable entry prices, Surfside offers upscale residential quiet, and Bal Harbour anchors the ultra-luxury end of the spectrum.

Whether short-term rentals are permitted hinges largely on the specific building and its zoning designation — some green-light it outright, others prohibit it completely. Beyond building rules, Miami Beach enforces its own vacation rental ordinances, so before any investment purchase it is essential to verify both the condo association bylaws and the city regulations.

In Miami Beach, annual property taxes come in close to 2% of assessed value. That works out to roughly $20,000 a year on a $1 million condo. Full-time residents can trim the bill by claiming the homestead exemption.