Miami-Dade Industrial: prices rose while the county shrank
Miami-Dade industrial has a median of $264 per square foot across 1,019 recorded sales since 2021, and annual medians climbed from $185 to $327 while the county's population fell. Both things are true, and the size band you are in matters more than either.
Price by building size
The single most important cut on this page. A county median is mostly a reflection of which sizes happened to trade.
Miami-Dade city price ladder
Median industrial and warehouse $/SF by city, cities with at least 12 recorded sales.
Miami-Dade lost 10,115 residents in the year to July 2025. Net domestic out-migration over July 2024 through June 2025 ran to 72,254 people. Over roughly the same stretch, industrial buildings in this county went from a median of $185 per square foot in 2021 to $327 in 2025 in my recorded sales. Those two facts do not sit comfortably together, and any market report that only shows you one of them is selling something.
Start with the tension, because it changes how you read the price
The population figures come from the Census Bureau's county estimates, vintage 2025, covering 1 July 2024 to 1 July 2025. Miami-Dade finished at 2,802,029, down 0.36 percent. The county did not empty out. It was replenished: 54,204 international arrivals landed against those 72,254 domestic departures, so the churn is enormous and the net is slightly negative.
Employment tells a friendlier story. BLS metro data for July 2026, preliminary and not seasonally adjusted against July 2025, has the Miami metro division at 1,343,400 payroll jobs, up 10,800 or 0.8 percent, against 0.3 percent nationally. The division's unemployment rate is 2.5 percent, down from 2.9 percent, and it is the lowest of any metropolitan division in the country. Average weekly wages hit $1,797 in the first quarter of 2026 under the BLS Quarterly Census of Employment and Wages, up 4.6 percent, ahead of the $1,654 national figure and its 3.9 percent gain.
One caution I put in front of clients every time. QCEW covered employment, the administrative count that survey-based payroll numbers eventually get benchmarked against, was down 7,449 in Miami-Dade for March 2026 versus March 2025. The survey says up, the census says down. If the two disagree I underwrite to the census.
What that adds up to for industrial: fewer residents, more jobs, higher wages, and a warehouse market that is functionally a logistics and trade market rather than a rooftops market. That is a defensible reason for industrial pricing to hold while population does not. It is not a reason to assume the last five years repeat.
The gradient is flatter here, and that is the useful finding
Across 1,019 recorded arm's-length industrial transfers in Miami-Dade since 2021, the median is $264 per square foot, quartiles $196 and $344. Broken out by building size:
- Under 2,500 SF: 326 sales, median $290/SF
- 2,500 to 10,000 SF: 348 sales, median $283/SF
- 10,000 to 25,000 SF: 177 sales, median $252/SF
- 25,000 to 50,000 SF: 83 sales, median $213/SF
- 50,000 SF and above: 85 sales, median $192/SF
That is a clean, monotone staircase, which office and retail in this county do not give you. It is also shallower. The small-to-large spread here is $290 against $192. Compare that to Miami-Dade office, where under 2,500 SF clears $449 and 50,000-plus clears $213, roughly a 2.1x spread. Industrial's gradient is real but gentler.
Two practical consequences. First, a county industrial median is less misleading than a county office median, so if you are going to use a headline number anywhere, this is the least dangerous place. Second, and more useful, the drop is concentrated in one place: crossing 10,000 square feet costs you real money per foot, and crossing 25,000 costs you more. A user deciding between a 9,000 SF unit and a 26,000 SF building is not making a linear tradeoff. Run the requirement before you shop it, which is what the space calculator is for.
Doral, Medley, Hialeah: three names, three prices
Median price per foot by city, every municipality with at least twelve recorded industrial sales:
- Sweetwater: $378 across 71 sales
- Miami: $343 across 105 sales
- Medley: $310 across 137 sales
- Doral: $307 across 217 sales
- North Miami: $248 across 14 sales
- Hialeah Gardens: $246 across 44 sales
- Miami Gardens: $236 across 79 sales
- Hialeah: $207 across 244 sales
- Homestead: $200 across 22 sales
- Opa-locka: $180 across 62 sales
Doral and Medley are the two deepest industrial submarkets after Hialeah and they price within three dollars a foot of each other, $307 and $310, on 217 and 137 sales. That is about as close to a confirmed read as this dataset produces. Hialeah is the single deepest market in the county at 244 sales and medians $207, a hundred dollars a foot below its neighbors.
The mistake I see owners make in Hialeah is assuming the Doral number applies because the truck route is the same. It does not. Two hundred and forty-four recorded sales are telling you it does not. Building size mix almost certainly explains part of that gap, which is exactly why I run both cuts rather than picking one.
Read the year-by-year with the sale counts attached
Miami-Dade industrial medians by year of sale: $185 in 2021 on 225 sales, $233 in 2022 on 213, $289 in 2023 on 167, $312 in 2024 on 180, $327 in 2025 on 184, and $294 so far in 2026 on 50.
The 2026 figure is lower than 2025. I am not calling that a correction and neither should anyone else. Fifty sales in a partial year, in a market with a live size gradient, moves on mix. If the buildings that happened to trade this year skew larger, the median falls without a single owner cutting a price. Any number carrying a sale count under about a hundred in this county gets treated as a sample, not a signal.
For reference on what typically trades: the median Miami-Dade industrial building in the set measures 5,056 square feet, was built in 1986, and sold for $1,465,000. Small-bay, older, owner-user product is the bulk of this market by count.
The three questions I ask before quoting a price
- What size band? Under 10,000 SF and you are near $283 to $290. Over 50,000 and you are near $192. That single answer does more work than everything else combined.
- What city? Sweetwater at $378 and Opa-locka at $180 are the same county and the same asset class. Municipal lines matter here more than most people price for.
- How many comps stand behind the number? Doral's $307 rests on 217 sales. North Miami's $248 rests on 14. I say so out loud when I use the second kind.
Industrial is the one Miami-Dade asset class where the demand story and the price story roughly agree, because the tenants are trade and logistics users rather than residents. It is still worth knowing that financial activities employment in the metro division fell 4.0 percent and retail trade fell 0.1 percent in the same BLS release. Industrial's strength is not the county's strength. It is its own.
If you are looking for warehouse or flex space and want the gradient working for you rather than against you, that is an industrial tenant representation conversation. The full county view sits in the Miami-Dade market report.
- Sale figures: recorded arm’s-length deed transfers, compiled by Mattis Advisors.
- Miami-Dade population 2,802,029, down 10,115 residents (-0.36%), 1 July 2024 to 1 July 2025, Census PEP Vintage 2025 — www.census.gov
- Miami-Dade net domestic out-migration 72,254 and international in-migration 54,204, July 2024 to June 2025 — www.census.gov
- Miami metro division payroll employment 1,343,400, up 10,800 jobs (+0.8%), July 2026 preliminary, not seasonally adjusted, vs July 2025; national payroll growth 0.3%; financial activities -4.0%; retail trade -0.1% — www.bls.gov
- Miami metro division unemployment rate 2.5%, down from 2.9%, lowest of any metropolitan division in the country — www.bls.gov
- Miami-Dade average weekly wage $1,797, up 4.6%, Q1 2026 QCEW; national average weekly wage $1,654, up 3.9% — www.bls.gov
Frequently asked
What is the median price per square foot for Miami-Dade industrial?
The median is $264 per square foot across 1,019 arm's-length industrial transfers recorded since 2021, with quartiles at $196 and $344. The typical building in that set measures 5,056 square feet, was built in 1986 and sold for $1,465,000. Small-bay, older owner-user product makes up the bulk of the market by transaction count, so the median leans that way.
How much does size affect industrial pricing in Miami-Dade?
Less than in office, but it still moves the number. Industrial under 2,500 square feet medians $290 per foot across 326 sales, and buildings over 50,000 square feet median $192 across 85 sales. That is a $98 gap. For comparison, Miami-Dade office runs $449 down to $213 across the same bands, roughly a 2.1x spread, so industrial's gradient is the gentler one.
Which Miami-Dade cities are most expensive for industrial?
Sweetwater tops the ladder at $378 per square foot across 71 recorded sales, then Miami at $343 across 105. Medley at $310 on 137 sales and Doral at $307 on 217 sales are effectively tied and are the two most reliable reads in the county. Opa-locka is the lowest at $180 across 62 sales, under half the Sweetwater figure.
Why is Hialeah industrial cheaper than Doral?
Hialeah medians $207 per square foot across 244 recorded sales, the deepest count in the county, against Doral's $307 across 217. That is a hundred dollar per foot gap between adjacent submarkets. Building size mix likely explains part of it, since the county's size gradient runs from $290 under 2,500 square feet down to $192 above 50,000. Both cuts have to be run together.
Did Miami-Dade industrial prices fall in 2026?
The 2026 partial year medians $294 per square foot against $327 in 2025, but it rests on only 50 recorded sales versus 184 the prior year. In a market with a live size gradient, a small sample skewing toward larger buildings pulls the median down without any owner cutting price. I treat any figure under roughly a hundred sales as a sample, not a signal.
How can industrial prices rise while Miami-Dade loses population?
Because industrial tenants are trade and logistics users, not residents. The Census Bureau's estimates for 1 July 2024 to 1 July 2025 show the county down 10,115 people to 2,802,029, with net domestic out-migration of 72,254. Over that same window BLS reported the metro division adding 10,800 jobs to 1,343,400 and unemployment falling to 2.5 percent, the lowest of any metropolitan division nationally.
Should I trust the reported job growth figures?
Partly. The July 2026 BLS metro figures showing 10,800 added jobs are preliminary and not seasonally adjusted. More importantly, QCEW covered employment, the administrative count those payroll surveys get benchmarked against, was down 7,449 in Miami-Dade for March 2026 versus March 2025. When the administrative census contradicts the survey, I underwrite deals to the census.
Get the Miami-Dade Industrial update when these numbers move
Drop your email and I’ll send the short quarterly update when these medians move. Nothing else.
Recorded, arm’s-length, building-improved commercial sales, recorded 2021–2026. Compiled by Justin Crow, Mattis Advisors. A reference range, not an appraisal.