New York real estate vs Miami real estate since 2016
39% × 113%
Updated May 1, 2026 · Redfin
Since 2016, New York real estate returned 39% and Miami real estate returned 113%, in U.S. dollars. Miami real estate won the period — but with different risk: the worst drop was 46% (New York real estate) vs 14% (Miami real estate).
Base 100 since 2016
Why compare New York home prices (US$/m²) and Miami home prices (US$/m²)
New York versus Miami is the classic Northeast-to-Sun-Belt question, and the pandemic migration of money and people from one to the other made it a live debate. Both lines are home prices per square foot from Redfin sold listings, so this is a pure price-appreciation comparison, not a verdict on which is the better investment: it excludes rent, leverage, property taxes and maintenance in both cities. The durable pattern is that New York is the more expensive, slower-moving market, while Miami runs in sharper boom-and-bust cycles driven by domestic and overseas inflows. Their relative lead shifts with each migration wave and rate cycle. This is not investment advice.
Returns by window
| Window | New York home prices (US$/m²) | Miami home prices (US$/m²) |
|---|---|---|
| 1 year | -2% | -3% |
| 5 years | 1% | 46% |
| 10 years | 23% | 100% |
| since 2016 | 39% | 113% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| New York real estate | 28% | -46% |
| Miami real estate | 15% | -14% |
$10,000 in each, since 2016
| Asset | Value today |
|---|---|
| New York real estate | $13,914 |
| Miami real estate | $21,286 |
Frequently asked questions
New York real estate or Miami real estate: which returned more?
Since 2016, Miami real estate returned more in U.S. dollars. Over shorter windows the lead can change — see the per-window table on the page.
Does a higher return mean a better investment?
Not on its own — risk matters. The page shows the volatility and the largest drop of each; similar returns can hide very different rides.
Are these figures in real terms?
No — these are nominal returns in U.S. dollars. To see real (inflation-adjusted) gains, compare each one against U.S. inflation (CPI).
Keep exploring
Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.