Mortgage Rates in Miami Gardens, Florida — March 2026
Updated March 2026 | Based on Miami Gardens market data and regional lending conditions
Miami Gardens is a growing city in Florida with a population of 111,640. The current 30-year fixed mortgage rate in Miami Gardens is 6.88%, which is 0.23% above the national average. With a median home price of $439,000 and a 20% down payment of $87,800, homebuyers can expect a monthly principal and interest payment of approximately $2,308.
Current Mortgage Rates in Miami Gardens, FL
Below are the current average mortgage rates available in the Miami Gardens area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.88% | 6.65% | +0.23% |
| 15-Year Fixed | 6.1% | 5.89% | +0.21% |
| 5/1 ARM | 6.33% | 6.15% | +0.18% |
| FHA | 6.57% | 6.25% | +0.32% |
| VA | 6.32% | 6.05% | +0.27% |
| Jumbo | 7.13% | 6.85% | +0.28% |
Miami Gardens Housing Market Overview
The Miami Gardens housing market reflects moderate demand with prices near the national average. The median household income in Miami Gardens is $61,800, and the cost of living index is 110.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $113,186 to comfortably afford the median-priced home in Miami Gardens, which exceeds the current median household income.
Monthly Payment Breakdown for Miami Gardens
Based on the median home price of $439,000 with 20% down ($87,800), here is what you can expect to pay monthly in Miami Gardens:
15-Year vs. 30-Year Mortgage in Miami Gardens
Choosing a 15-year mortgage in Miami Gardens at 6.1% instead of a 30-year at 6.88% would save you $293,940 in total interest over the life of the loan. However, your monthly payment would be $2,983 instead of $2,308 — an increase of $675 per month.
Calculate Your Miami Gardens Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Miami Gardens
What are the current mortgage rates in Miami Gardens, FL?
As of March 2026, the average 30-year fixed mortgage rate in Miami Gardens, Florida is 6.88%, while the 15-year fixed rate is 6.1%. FHA loans average 6.57% and VA loans 6.32%. These rates are 0.23% above the national average of 6.65%.
How much is a monthly mortgage payment in Miami Gardens?
Based on the median home price of $439,000 with 20% down, the estimated monthly mortgage payment in Miami Gardens is $2,308 for principal and interest. Including property taxes of $333/month, the total monthly housing cost is approximately $2,641.
What income do I need to buy a home in Miami Gardens?
Using the 28% rule, you would need an annual income of approximately $113,186 to afford the median-priced home in Miami Gardens at $439,000. The median household income in Miami Gardens is $61,800. This means most households would need to either earn above the median or consider homes below $439,000.
Is Miami Gardens a good place to buy a home in 2026?
Miami Gardens has a moderate cost of living with a cost of living index of 110.9 (national average = 100). The property tax rate in Florida is 0.91%, which is near the national average. Miami Gardens has a population of 111,640 and offers a balanced lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Miami Gardens, Florida area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.