Surfside / Bal Harbour

Surfside / Bal Harbour is a distinctive submarket in Miami-Dade County with a unique investor profile. Cap rates of 4%-4.5% and average rents of $3,800/month position this zone in the premium segment of the market. The 50% five-year appreciation reflects measured growth.

The expense side is where Surfside / Bal Harbour demands close attention. Insurance costs run approximately $2,800 per unit annually, rated VERY HIGH risk due to the VE (Alto) FEMA flood designation. Combined with a millage rate of 16 and operating expenses that typically run 38% of gross rent, investors need to model total expenses carefully to avoid overestimating net returns. Property taxes average $5,500 per unit per year in this zone.

Surfside / Bal Harbour serves a population of 7,000 with a median household income of $120,000. The walkability score of 72/100 and transit score of 50/100 make it highly accessible without a car. Crime grade A+ and school rating A factor into tenant quality and retention. Vacancy at 4% signals tight supply.

For multifamily investors evaluating Surfside / Bal Harbour in 2026, the entry point ranges from $500K to $650K per unit. Ultra-luxury coastal. Post-Champlain Tower, strictest building codes in FL. No new supply. Astronomical insurance. Wealth preservation only. Investors comparing this zone against the broader Miami-Dade market should weigh the 4%-4.5% 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.