Homestead, FL—33033
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 $441,000, with a year-over-year change of -3.5%. 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 | $441,000 | -3.5% |
| Single Family | $458,000 | -4.0% |
| Condos | $262,000 | -7.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $312,000 | -1.3% |
2 Bed | $304,000 | -6.5% |
3 Bed | $421,000 | -4.1% |
4 Bed | $509,000 | -4.1% |
| 5 Bed | $584,000 | -4.1% |
% of Housing Stock
Rental Trends — Homestead, FL
As of July '25, Rentcast reports the average rent in Homestead, FL is $2,660, with a year-over-year rent change of -4.3%. Per bedroom, the median rent as of July '25 in Homestead, FL is studios: $1,100, 1-bedrooms: $1,480, 2-bedrooms: $2,100, 3-bedrooms: $2,680, 4-bedrooms: $3,350. The most common rental property sizes in Homestead, FL are 3-bedroom and 2-bedroom, accounting for 37.3% and 36.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,660 |
| Studio Rent | $1,000 | $1,100 |
| 1 Bed Rent | $1,450 | $1,480 |
| 2 Bed Rent | $2,000 | $2,100 |
| 3 Bed Rent | $2,600 | $2,680 |
| 4 Bed Rent | $3,300 | $3,350 |
% 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 81. This is a increase of 52.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $450,000 | -3.0% |
Listing Count | 549 | 46.0% |
| Listings as % of Homes | 1.3% | 46.0% |
Days on Market | 81 | 52.0% |
Demographics — Homestead, FL
As of the latest ACS Survey released in 2023, Homestead, FL has a population of 69,100, which has increased by 18.6% over the past 5 years. Homestead, FL is a popular place for families, as children make up 29.7% of the population. The area has a poorly educated workforce, with 23.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 69,100 | 18.6% |
% Under 18 | 29.7% | -3.3% |
% Seniors | 9.0% | -10.9% |
% WFH | 7.7% | 83.3% |
% w/ College Degree | 23.3% | 14.2% |
As of the latest ACS Survey released in 2023, Homestead, FL is a predominantly hispanic area, with 70.6% of the population identifying as hispanic. The hispanic population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Homestead, FL is black, making up 19.0% of the population. Foreign-born residents account for 39.7% of the population in Homestead, FL, and this percentage has decreased by 6.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 8.5% | -18.3% |
% Black | 19.0% | 8.6% |
% Hispanic | 70.6% | -0.8% |
% Asian | 0.5% | -44.4% |
% Foreign Born | 39.7% | -6.4% |
Mortgage and Risk — Homestead, FL
According to HUD data as of 2023, there were 1173 mortgage originations in Homestead, FL, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 53.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,173 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Homestead, FL
As of 2024, the percent of homes in Homestead, FL under the Section 8 program is 12.5%. 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 | 1,375 |
Total Units Section 8 | 1,212 |
% Rentals under Section 8 | 12.5% |
% Occupied Section 8 | 86.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $1,450 | $1,700 |
| 2 Bedroom | $100 | $2,000 | $2,100 |
| 3 Bedroom | $130 | $2,600 | $2,730 |
| 4 Bedroom | -$60 | $3,300 | $3,240 |
Affordability — Homestead, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $441,000 |
| Median Household Income | $66,700 |