Finding a rent-to-own home in Miami generally works in one of two ways: finding a landlord willing to offer this option directly, or using a specialized “rent-to-own program” that buys a house for you.
Because direct listings from landlords are rare and risky, the program route is currently the most reliable method in the Miami market.
1. Top Rent-to-Own Programs in Miami
These companies allow you to pick a home that is for sale on the regular market.1 They buy it for you, and you rent it from them until you qualify for a mortgage to buy it back.
| Program | Min. Credit Score | Down Payment / Savings | Key Details |
| Dream America | 500+ | ~$8,000+ (Cash/401k) | Focuses on getting you “mortgage ready” in 12 months. Available in major Florida metros. |
| Divvy Homes | 550+ | 1-2% of home price | A portion of your rent builds equity savings. You can buy the home at any time or cash out your savings if you walk away. |
| Land | 550+ | 2-3% of home price | Requires a slightly higher credit score but focuses heavily on coaching you to get a mortgage within 12-24 months. |
| Home Partners of America | 600-620+ | 1 month rent + deposit | Offers a “Lease with Right to Purchase.” Good for those who want to test a neighborhood before committing. |
2. Where to Look for Listings
If you prefer to find a direct landlord-tenant agreement (which avoids the fees of the programs above but carries more risk), you can check these specific sources:
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Foreclosure & HUD Sites: Sometimes government-seized homes (HUD homes) offer special financing or lease-to-own options.
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Specialized Search Filters:
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Zillow/Trulia: Type “Miami, FL” and use the keyword search bar (usually under “More” filters) to type “Rent to Own,” “Lease Option,” or “Seller Financing.”
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HousingList / RentToOwnLabs: These are aggregate sites, but be careful—many require a paid subscription just to view addresses. It is usually better to use free sites or programs first.
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3. How the Process Works in Miami
Miami’s market is expensive, so rent-to-own contracts here often require higher upfront costs than in other parts of the country.
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The Option Fee: You will likely pay 1% to 5% of the purchase price upfront.2 This is non-refundable if you decide not to buy the house, but it usually applies to your down payment if you do buy.
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Above-Market Rent: Expect to pay slightly more than the average rent (e.g., if a house normally rents for $3,000, you might pay $3,300). The extra $300 is a “rent credit” that goes toward your future down payment.
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Purchase Price: The price is usually locked in now. If Miami home values rise over the next 2 years, you get a deal. If they drop, you might be overpaying (which is why a “Lease Option” is safer than a “Lease Purchase” contract).
4. Important Warning
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Watch for Scams: If you find a rent-to-own home on Craigslist or Facebook Marketplace with a very low price or no credit check, it is likely a scam. Never wire money or pay a “application fee” via CashApp/Zelle before seeing the interior of the home.
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Check the Title: If dealing directly with a landlord, ensure the home is not in foreclosure. If the landlord stops paying their mortgage, you could lose the home and your option fee money.
Recommendation:
If you have a credit score near 550, start by applying to Divvy or Dream America. They are safer than private landlord deals and give you access to almost any home for sale in Miami, rather than limiting you to the few “rent-to-own” specific listings available.
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