Overtown is Miami's historic Black neighborhood — once called "Colored Town," it was the cultural heart of the city's African-American community for decades. Today it's the smallest neighborhood in our dataset at just 2,855 properties, and it's being reshaped faster than almost anywhere in the county.
The numbers tell a story of extremes. The median sale price is $383K, but the average is $4.7M — a 12x gap driven by mega-developments landing on what was historically affordable land. Half of all buyers are LLCs. There are 275 vacant commercial lots waiting for shovels. And 267 co-op units — a housing type almost unheard of elsewhere in Miami.
This page is built from Miami-Dade County records. Not Zillow estimates. Not developer marketing. County data.
Market Snapshot
$383K
Median sale price (2025+ sales) As of Mar 2026
$4.7M
Average sale price (mega-dev skew) As of Mar 2026
50%
LLC / corporate buyers As of Mar 2026
$388
Avg price per sq ft As of Mar 2026
Source:
Miami-Dade County Property Appraiser (PaGISView) — 46 sales dated 2025+ with price >$10K in ZIP 33136. LLC % based on owner name matching (LLC, INC, CORP, TRUST, LTD). Avg/median divergence driven by large-scale mixed-use development transactions.
The 12x price gap: Overtown's $383K median vs $4.7M average is the most extreme skew in Miami. A handful of massive development deals — mixed-use towers on assembled lots — inflate the average by over 1,000%. If you're looking at a "typical" Overtown property, you're in the $250K–$500K range. The $4.7M number is developer money, not housing market reality.
Source: Miami-Dade Property Appraiser (PaGISView) — avg $4.7M and median $383K computed from 46 sales (2025+, price >$10K) in ZIP 33136.
Half the buyers are LLCs: 50% of recent Overtown sales went to corporations, LLCs, or trusts — the highest rate in our dataset. This isn't mom-and-pop investing. This is institutional capital positioning for redevelopment. When half the money flowing in is anonymous corporate cash, the neighborhood's future is being decided in boardrooms, not at community meetings.
Source: Miami-Dade Property Appraiser (PaGISView) — LLC/corporate buyer rate from owner name pattern matching across 46 recent sales in ZIP 33136.
Property Mix
38.9%
Condominiums As of Mar 2026
267
Co-op units (rare in Miami) As of Mar 2026
275
Vacant commercial lots As of Mar 2026
245
Single-family homes As of Mar 2026
Full Property Breakdown
Condominiums: 940 units
Vacant Commercial: 275 lots
Co-ops: 267 units
Single-Family: 245 homes
Townhouses: 170 units
Govt-Owned Vacant: 149 parcels
Multifamily 10+: 118 buildings
Multifamily 2–9: 99 buildings
The co-op anomaly: Overtown has 267 cooperative housing units — a property type that barely exists elsewhere in Miami. Co-ops typically have stricter purchase rules and lower prices than condos, and they were historically built as affordable housing. As redevelopment pressure mounts, these co-ops represent some of the last truly affordable ownership in the area. Whether they survive depends on whether boards can resist buyout offers.
Source: Miami-Dade Property Appraiser (PaGISView) — 267 cooperative residential units in ZIP 33136, FL DOR use code classification.
Risk Profile
26.7%
Properties in FEMA flood zones As of FEMA FIRM 2024
~9.5 ft
Average elevation (NAVD88) As of Miami-Dade DEM 2024
1980
Median year built As of County records
2,084
Properties in X zone (minimal risk) As of Mar 2026
Flood Zone Breakdown
AE (High Risk): 627 properties
AH (Shallow Flooding): 131 properties
X (Minimal Risk): 2,084 properties
Source:
Miami-Dade PAGIS_VData — FEMA Flood Insurance Rate Map (FIRM) zone designations per parcel. 2,842 of 2,855 properties matched to flood zone data.
Lower flood risk — for now: At 26.7%, Overtown's flood exposure is significantly lower than Brickell's 79%. No properties sit in the VE (coastal high hazard) zone. But 9.5 ft average elevation still puts the neighborhood within reach of storm surge, and county sea-level-rise models show 30 properties affected under 2070 high scenarios. The real risk here isn't water — it's the age of what's already standing.
Source: Flood zone & elevation data from PAGIS_VData. Sea level rise projections from NOAA 2040/2070 scenarios in county dataset (5 affected at 2040 high, 30 at 2070 high).
The age problem is serious: Median year built is 1980 — that's 46 years old. Florida's post-Surfside law (SB 4-D) requires milestone structural inspections at 30 years for buildings within 3 miles of the coast. Most of Overtown's buildings have already blown past that deadline. Any new tower or rehab will meet modern code, but the existing housing stock — especially the older multifamily buildings — faces mandatory inspections and potentially expensive repairs. If you're buying in an older building, ask about the inspection status and reserve funds before signing.
Source: Year built from PaGISView. Inspection law: Florida SB 4-D (2022) — milestone structural inspections at 30 years for coastal buildings 3+ stories, enacted post-Surfside collapse.
Redevelopment Pressure
275
Vacant commercial lots As of Mar 2026
149
Government-owned vacant parcels As of Mar 2026
5
Total permits on record As of Mar 2026
2,855
Total properties (smallest in dataset) As of Mar 2026
Source: Property types from
Miami-Dade Property Appraiser (PaGISView) — FL DOR use codes in ZIP 33136. Permits from Miami-Dade County Permit Data (Permit_by_Polygon) — low count likely reflects permit data matching limitations in this area.
The Redevelopment Math
275 vacant commercial lots + 149 government-owned vacant parcels = 424 parcels (14.8% of all properties) sitting empty and zoned for development. In a neighborhood of only 2,855 total properties, that's nearly 1 in 7 lots waiting for a shovel. This is the clearest signal in the data: Overtown's physical landscape is about to change dramatically.
Displacement is the real risk: When 50% of buyers are LLCs, 275 commercial lots sit vacant, and the average sale price is 12x the median, the math is clear — institutional money is assembling land for large-scale development. For existing residents, this means rising property taxes, pressure to sell, and a neighborhood that may look completely different in 10 years. Overtown's story isn't about flood zones. It's about who gets to stay.
Source: LLC rate and price data from Miami-Dade Property Appraiser (PaGISView) — 46 recent sales in ZIP 33136. Vacant lot counts from FL DOR use code classification.
What Most People Miss
The co-ops are a canary. Overtown's 267 co-op units are a relic of an era when affordable housing was actually built in central Miami. Co-ops have board approval requirements that can slow investor takeover — but they're not immune. If co-op boards start approving bulk sales to developers, it's the clearest sign the neighborhood has tipped. Watch the co-ops.
Source: Miami-Dade Property Appraiser (PaGISView) — 267 cooperative residential units in ZIP 33136.
The $4.7M average is a lie (about housing). Nobody is paying $4.7M for a house in Overtown. That number exists because developers are buying assembled parcels — multiple lots combined into mega-development sites — at prices that dwarf normal transactions. With only 46 recent sales, a single $50M land deal can warp the entire average. The median of $383K tells you what actual housing costs. Always look at the median.
Source: Miami-Dade Property Appraiser (PaGISView) — avg $4.7M and median $383K from 46 sales (2025+, price >$10K) in ZIP 33136. Small sample size amplifies outlier effect.
The 1980 problem meets the 2025 boom. Overtown's median build year is 1980 — older than Brickell's by 24 years. These buildings have already passed the 30-year and 40-year inspection milestones. The structures that survive are either well-maintained or ticking time bombs. Meanwhile, new construction will meet modern flood and wind codes. The result: a two-tier neighborhood where new towers and aging walkups coexist on the same block, with wildly different insurance costs, safety profiles, and lifespans.
Source: Year built from PaGISView. Inspection requirements: Florida SB 4-D (2022).