Florida City

Florida City represents a high-risk, high-reward opportunity in the Miami-Dade multifamily landscape. Entry prices between $110K-$160K per unit are among the lowest in the county, with cap rates of 6.5%-7.5% that reflect both the yield potential and the risk premium the market demands. Rent growth at 6% shows demand is building, but investors should underwrite conservatively.

One of Florida City's advantages is its favorable expense profile. Insurance costs are approximately $1,100 per unit annually — well below the county's coastal zones where premiums reach $2,200-$2,800 per unit. The X (Bajo) flood designation keeps insurance risk low, and with a millage rate of 24, property taxes come in at $2,400 per unit per year. Operating expenses typically run 42% of gross rent in this submarket.

Florida City serves a population of 12,000 with a median household income of $35,000. The walkability score of 25/100 and transit score of 10/100 reflect its exurban character. Crime grade D+ and school rating C- factor into tenant quality and retention. Vacancy at 6% is within normal range for the submarket.

For multifamily investors evaluating Florida City in 2026, the entry point ranges from $110K to $160K per unit. LOWEST PRICES in the county ($110K/unit) with maximum cap rate (7.5%). But D+ crime grade is worst in county. Very high millage (24.0). Investors comparing this zone against the broader Miami-Dade market should weigh the 6.5%-7.5% cap rate against the county-wide range of approximately 3.8% (Key Biscayne) to 7.5% (Florida City), and factor in the significant variation in insurance and tax burden across the county's 34 investable zones.