Can I Airbnb my investment property in Miami?

It depends on the exact address and municipality. Unincorporated Miami-Dade and Miami Beach (specific zones) allow short-term rentals with a city license. However, cities like Coral Gables, Pinecrest, and Miami Shores effectively ban STRs. Many HOA-governed condo buildings also prohibit them in their governing docs. Always verify legality at the exact address before underwriting STR income into your deal.

How much does a Miami Airbnb make per month?

A well-located Miami Airbnb generates $3,800–$8,000/month in gross revenue depending on size, neighborhood, and season. Brickell/Wynwood 2BR condos average $4,500–$6,500/month at 68–75% occupancy. After platform fees (3%), cleaning, utilities, and management (20–30%), net income is typically 55–65% of gross — so $2,500–$4,500/month net on a well-run unit.

What are the DSCR loan requirements for an Airbnb in Florida?

Most Florida DSCR lenders now accept short-term rental properties. Requirements typically include: 680+ credit score, 20–25% down payment, 75% LTV maximum, and 12 months of documented Airbnb/VRBO income history. Lenders use 75% of your trailing 12-month average monthly STR income to calculate DSCR. Without rental history, some lenders accept a professional AirDNA income analysis.

Is Miami Beach good for Airbnb investment in 2026?

Miami Beach has loosened STR restrictions in specific zones — particularly South Beach and Mid-Beach condo buildings that allow STRs in their HOA docs. A conforming 1BR condo in Miami Beach can generate $3,500–$5,500/month during peak season (Oct–Apr) and $2,000–$3,000 in shoulder months. The challenge is high purchase prices ($450K–$750K for a 1BR) that make DSCR qualification tight without strong STR income history.

What is the STR expense ratio for a Miami short-term rental?

Budget a 55–65% expense ratio for Miami STRs vs 40–45% for long-term rentals. Key STR-specific costs: Airbnb host fee (3% of revenue), cleaning between guests ($75–$150/turnover), utilities paid by host ($200–$400/month), linens/supplies replenishment ($100–$200/month), and STR license ($300–$600/year depending on municipality). If using a property manager, add 20–30% of gross revenue.

How do I verify if a Miami property can legally be used as an Airbnb?

Check three sources: (1) Miami-Dade zoning portal at miamidade.gov for the property's zoning designation, (2) the specific municipality's code — Miami, Miami Beach, Homestead, and Coral Gables each have separate STR ordinances, (3) the condo building's HOA documents if applicable. Many deals that look STR-friendly at the county level are blocked at the HOA level. One call to the city's zoning department confirms definitively.

When does STR income justify the extra work vs long-term rental in Miami?

STR makes sense over LTR in Miami when three conditions align: (1) the legal zone allows it, (2) the long-term rental yield is under 5% cap rate (so LTR doesn't pencil), and (3) STR income generates at least 1.8x the LTR income to justify the 20–30% management overhead and higher vacancy between stays. If the deal cash flows on LTR math alone, STR upside is a bonus — never the primary investment thesis.

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Miami Short-Term Rental Investment: How to Analyze an Airbnb Deal with DSCR Financing

2026-03-29 · 4 min read

The STR Opportunity in Miami

Miami sees over 25 million tourists annually. The city's year-round warm climate means there's no true off-season — just peak season (October–April) and shoulder season (May–September). Properties in the right locations can generate $4,000–$8,000/month in STR income versus $2,200–$3,200/month for long-term tenants.

That 2–3x multiplier is the reason sophisticated investors are building entire STR portfolios in Miami.

Miami Neighborhoods Where STR Works (Legally)

This is the critical filter most beginners skip. Miami-Dade has strict STR regulations, and many municipalities have banned or heavily restricted short-term rentals.

STR-Friendly Zones (as of 2026): - Unincorporated Miami-Dade: With license, STR allowed - Miami Beach (specific zones): Allowed with city license — check exact address - Brickell (certain condo buildings): Building must allow STR in their docs - Edgewater / Wynwood: Mixed — check zoning per address - Homestead area: Allowed — less competition, lower yields but lower prices

STR-Restricted (effectively banned): - Coral Gables - Pinecrest - Miami Shores - Most HOA-governed condo buildings

Before you analyze any deal for STR income, verify the legal status at that exact address. One wrong assumption destroys the entire investment thesis.

How to Analyze a Miami STR Deal

The analysis is similar to long-term rental but with different income numbers and higher expense ratios.

Revenue projection: - Annual occupancy rate for Miami STR: 65–75% (year-round market) - Average daily rate in Brickell: $180–$280/night - Monthly revenue estimate: $3,800–$6,500 depending on size and location

STR Expense ratio (higher than LTR): - Cleaning fees (pass to guest, but vacancy between stays affects occupancy) - Platform fees: 3% host fee on Airbnb - Supplies, linens, toiletries: $100–$200/month - Utilities (STR hosts typically pay): $200–$400/month - STR license: varies by municipality - Management (if outsourced): 20–30% of revenue

Rule of thumb for Miami STR: Use 55–60% expense ratio vs 40–45% for LTR.

Financing a Miami STR Property with a DSCR Loan

Most conventional lenders won't touch STR properties. DSCR lenders have caught up with the market.

In 2026, most DSCR lenders will: - Accept documented Airbnb/VRBO income history (12 months of statements) - Use 75% of average monthly STR income to calculate DSCR - Finance STR properties up to 75% LTV - Require the property to be in an STR-legal zone

The documentation requirement is the key difference: you need to show your Airbnb earning history, not just projected income.

For first-time STR investors who don't have Airbnb history on the property, some lenders will use a professional STR income analysis (available from companies like AirDNA) as a substitute.

STR vs LTR: When Does the Premium Justify the Work?

STR requires active management or a 20–30% management fee. Long-term rentals are passive by comparison. The STR premium only makes sense when:

The legal zone allows it
The price-to-rent ratio for LTR doesn't pencil (common in Brickell / Wynwood)
You have systems in place (or a PM) to manage turnover

If the property would cash flow on LTR at the numbers you're buying at — that's your floor. Any STR upside is gravy, not the thesis.

Analyze Any Miami Address for Both STR and LTR Potential

SpillDeals shows you the long-term rental analysis for any Miami-Dade address — cap rate, DSCR, cash flow based on market rents. Use that as your baseline to understand if the deal works even without STR income.

If the LTR math barely works and you're relying on STR upside — that's a risk you need to consciously choose, not stumble into.

Type any address at SpillDeals and know the LTR floor in 30 seconds.

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Alejandro Gonzalez is a Florida real estate investor and founder of SpillDeals — the only platform that grades every FL investment property A–F using live MLS data. Learn more →