Data Analysis

Miami home prices rose 1.3% from August and 8.2% from a year earlier in Redfin's September index, and West Palm Beach held at 10.4%, the second largest annual gain among the 50 most populous U.S. metros.

Redfin's September 2026 Home Price Index, published October 20, has U.S. prices up 0.25% on the month and 3.8% on the year. All six Florida metros held or sped up.

Miami home prices rose 1.3% from August and 8.2% from a year earlier in September 2026, according to the Redfin Home Price Index published October 20. West Palm Beach rose 10.4% year over year, the second largest annual gain among the 50 most populous U.S. metros. Tampa was up 4.7%, Orlando 2.5%, Fort Lauderdale 2.3% and Jacksonville 1.5%. Nationally, the seasonally adjusted index rose 0.25% from August and 3.8% from September 2025, which Redfin calls the fastest annual growth rate since June 2025.

Annual price growth in every Florida metro the index covers was equal to or faster than it was a month earlier.

How much did Florida home prices change in September 2026?

The index covers six Florida metros. Here are Redfin's September figures, month over month and year over year:

• Miami: up 1.3% from August, up 8.2% from September 2025.
• West Palm Beach: up 0.4% and up 10.4%.
• Tampa: down 0.2% and up 4.7%.
• Orlando: up 0.1% and up 2.5%.
• Fort Lauderdale: down 0.1% and up 2.3%.
• Jacksonville: up 0.6% and up 1.5%.

Three of the six, West Palm Beach, Miami and Tampa, beat the national annual pace of 3.8%. Orlando, Fort Lauderdale and Jacksonville trailed it. The gap between the fastest and slowest Florida metro was 8.9 percentage points, down from 10 points in August.

Redfin's article text names West Palm Beach and Miami. The other four Florida figures come from the metro table published on the same Redfin page, read on two separate passes with identical results.

Which metros had the biggest price gains in September?

San Francisco led the annual ranking at 14.0%. West Palm Beach was second at 10.4%, then Chicago at 10.3%, Miami at 8.2% and Philadelphia at 7.6%. Two of the top five annual gainers in the country are in South Florida.

Miami also made the monthly leaderboard. Philadelphia posted the largest month-over-month gain at 1.9%, followed by Pittsburgh and Miami at 1.3% each, and Chicago and San Francisco at 1.0% each.

Prices rose month over month in 34 of the 50 metros. Six fell year over year, all outside Florida: San Antonio down 2.1%, Dallas down 1.5%, Austin and Seattle down 0.2% each, and Houston and Fort Worth down 0.1% each. Redfin's Dana Anderson described the Texas metros as "among the biggest buyer's markets in the nation."

What changed from August?

This desk's coverage of Redfin's August index, published September 22, recorded these annual changes: West Palm Beach 10.4%, Miami 8.0%, Tampa 4.1%, Fort Lauderdale 1.8%, Orlando 1.8% and Jacksonville 0.4%. Against those figures, September's readings show Jacksonville moving the most, up 1.1 points to 1.5%. Orlando gained 0.7 points, Tampa 0.6, Fort Lauderdale 0.5 and Miami 0.2. West Palm Beach was unchanged.

The monthly picture shifted more. Fort Lauderdale, which fell 0.5% from July to August, fell only 0.1% from August to September. Miami went from a 0.2% monthly gain to 1.3%. Orlando slowed from 0.7% to 0.1%, and Tampa moved from flat to a 0.2% decline.

Nationally, Redfin's September release puts August's monthly gain at 0.21%. The August release first reported 0.25%. Redfin does not describe the change, so this article treats the newer figure as the current one.

Why are prices rising when buyers have more leverage?

Redfin's September release says prices are "still climbing a little each month" even as buyers gain negotiating power. Other September data point the same way for Florida. Florida Realtors' September statewide report, covered in our Florida housing market September 2026 article, put the single-family median sale price at $415,000, up 1.2% from a year earlier, while closed sales fell 3.5% to 20,537 and months of supply dropped to 4.4 from 5.1. NAR's September pending home sales index, covered in our pending home sales article, fell 7.3%.

A repeat-sales index measures what happened to the price of the same home between two sales. When fewer homes trade but the ones that do sell hold their value, a repeat-sales index can rise even as contract activity falls. That pattern fits the September evidence.

Mortgage rates are the other half of the picture. Freddie Mac's 30-year average was 7.32% in the week ending October 22, down from 7.40% the two weeks before, as covered in our October 22 mortgage rates article. Because the index tracks closed sales over the three months ending September 30, the October rate rise is not yet reflected in it.

Why do index figures differ from median sale prices?

Redfin publishes both and they measure different things. Redfin's methodology page describes the index as a repeat-sales index based on homes that sold more than once, which holds the mix of homes constant. A median sale price reflects whichever homes happened to sell that month. In a month when more modest homes sell, the median can fall even if every individual home held its value. When the two measures diverge in a Florida metro, the gap usually says more about what sold than about what values did.

What does this mean for Florida buyers and sellers?

The answer depends on the metro. A West Palm Beach seller is in the second fastest appreciating of the 50 largest metros for a second straight month. A Miami seller saw the third largest monthly gain in the country. A Jacksonville seller is in a market that has gained 1.5% in a year, well below the national pace. Tampa and Fort Lauderdale prices dipped slightly on the month while staying above year-ago levels, and Orlando was close to flat on the month.

Buyers should ask which measure a listing agent is quoting before treating a percentage as settled. Metro-level figures are tracked on the Florida housing tracker.

People also ask

Are Florida home prices going up or down?

In Redfin's September 2026 index, all six covered Florida metros were higher than a year earlier, ranging from 1.5% in Jacksonville to 10.4% in West Palm Beach. On the month, Tampa fell 0.2% and Fort Lauderdale fell 0.1%.

Which Florida city has the fastest rising home prices?

West Palm Beach, at 10.4% year over year in September 2026, second only to San Francisco among the 50 most populous U.S. metros. Miami was fourth at 8.2%.

How much did U.S. home prices rise in September 2026?

Redfin's index rose 0.25% from August on a seasonally adjusted basis and 3.8% from September 2025, the fastest annual growth since June 2025.

When is the next Redfin Home Price Index?

Redfin's data center lists the next monthly update for Tuesday, November 24, 2026.

Limitations

The index covers the 50 most populous U.S. metros, so rankings here are rankings within that set. Sarasota, Naples, Fort Myers, Ocala, the Treasure Coast and other Florida metros outside that set carry no figures in this release.

Redfin publishes no margin of error or confidence intervals for the index. Monthly moves of a few tenths of a percent, such as Orlando's 0.1% and Fort Lauderdale's minus 0.1%, should be read as close to flat.

September figures cover the three months ending September 30, 2026. The August comparisons use August figures as first published and as recorded in this desk's September 22 coverage, not a revised August table, because Redfin did not publish one. Redfin's national August figure was revised from 0.25% to 0.21%, so metro August figures may also have moved.

The Florida Realtors, NAR and Freddie Mac figures come from different publishers and methods and are context, not a comparison with the index.

Sources

Redfin, "U.S. Home-Sale Prices Ticked Up 0.25% in September," Redfin Home Price Index, September 2026, by Dana Anderson, published October 20, 2026, redfin.com/news/home-price-index-september-2026/. Metro table read on two passes.

Redfin, Redfin Home Price Index, August 2026, published September 22, 2026, as reported in this publication on September 23, 2026.

Redfin Data Center, home price index page and methodology page, redfin.com/news/data-center/, for the repeat-sales construction and the November 24 next-update date.

Florida Realtors, September 2026 statewide single-family report, published October 16, 2026, as reported in this publication on October 23, 2026.

Freddie Mac Primary Mortgage Market Survey, week ending October 22, 2026, as reported in this publication on October 23, 2026.

National Association of Realtors, Pending Home Sales Index, September 2026, as reported in this publication on October 20, 2026.

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.