Homestead, FL—33032
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Homestead, FL
As of Oct '25, the median home price in Homestead, FL is $462,000, with a year-over-year change of -3.1%. This indicates that home prices in Homestead, FL are decreasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $462,000 | -3.1% |
| Single Family | $468,000 | -3.5% |
| Condos | $345,000 | -3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $347,000 | -4.4% |
3 Bed | $439,000 | -3.5% |
4 Bed | $516,000 | -3.0% |
| 5 Bed | $637,000 | -3.3% |
% of Housing Stock
Rental Trends — Homestead, FL
As of July '25, Rentcast reports the average rent in Homestead, FL is $2,740, with a year-over-year rent change of -6.2%. Per bedroom, the median rent as of July '25 in Homestead, FL is studios: $1,100, 1-bedrooms: $1,550, 2-bedrooms: $2,010, 3-bedrooms: $2,830, 4-bedrooms: $3,360. The most common rental property sizes in Homestead, FL are 2-bedroom and 3-bedroom, accounting for 40.8% and 36.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,700 | $2,740 |
| Studio Rent | $1,200 | $1,100 |
| 1 Bed Rent | $1,500 | $1,550 |
| 2 Bed Rent | $2,000 | $2,010 |
| 3 Bed Rent | $2,750 | $2,830 |
| 4 Bed Rent | $3,300 | $3,360 |
% of Rental Stock
Property Listings — Homestead, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Homestead, FL is 69. This is a increase of 23.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $478,000 | 0.0% |
Listing Count | 431 | 30.0% |
| Listings as % of Homes | 1.1% | 30.0% |
Days on Market | 69 | 23.0% |
Demographics — Homestead, FL
As of the latest ACS Survey released in 2023, Homestead, FL has a population of 62,000, which has increased by 31.8% over the past 5 years. Homestead, FL is a popular place for families, as children make up 28.3% of the population. The area has a poorly educated workforce, with 24.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 62,000 | 31.8% |
% Under 18 | 28.3% | -4.4% |
% Seniors | 9.2% | 24.3% |
% WFH | 12.6% | 162.5% |
% w/ College Degree | 24.3% | 9.5% |
As of the latest ACS Survey released in 2023, Homestead, FL is a predominantly hispanic area, with 67.9% of the population identifying as hispanic. The hispanic population has grown by 4.8% in the last 5 years. The second most common race or ethnicity in Homestead, FL is black, making up 20.7% of the population. Foreign-born residents account for 44.9% of the population in Homestead, FL, and this percentage has increased by 8.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 9.7% | 42.6% |
% Black | 20.7% | -27.6% |
% Hispanic | 67.9% | 4.8% |
% Asian | 0.6% | -73.9% |
% Foreign Born | 44.9% | 8.2% |
Mortgage and Risk — Homestead, FL
According to HUD data as of 2023, there were 1087 mortgage originations in Homestead, FL, of which 50.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 58.0% above 90% LTV (very high). This implies large mortgage risk in Homestead, FL. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,087 |
% Conventional Loans | 50.0% |
% Government Loans | 50.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Homestead, FL
As of 2024, the percent of homes in Homestead, FL under the Section 8 program is 14.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Homestead, FL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,578 |
Total Units Section 8 | 1,189 |
% Rentals under Section 8 | 14.2% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $280 | $1,500 | $1,780 |
| 2 Bedroom | $180 | $2,000 | $2,180 |
| 3 Bedroom | $70 | $2,750 | $2,820 |
| 4 Bedroom | $0 | $3,300 | $3,300 |
Affordability — Homestead, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $462,000 |
| Median Household Income | $75,000 |