Homestead, FL—33035
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 $336,000, with a year-over-year change of -4.9%. This indicates that home prices in Homestead, FL are decreasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $336,000 | -4.9% |
| Single Family | $375,000 | -6.0% |
| Condos | $225,000 | -10.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $224,000 | -10.4% |
3 Bed | $348,000 | -4.4% |
4 Bed | $434,000 | -6.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Homestead, FL
As of July '25, Rentcast reports the average rent in Homestead, FL is $2,470, with a year-over-year rent change of -0.8%. Per bedroom, the median rent as of July '25 in Homestead, FL is 1-bedrooms: $1,820, 2-bedrooms: $1,940, 3-bedrooms: $2,440, 4-bedrooms: $3,140. The most common rental property sizes in Homestead, FL are 3-bedroom and 2-bedroom, accounting for 68.3% and 21.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,380 | $2,470 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,800 | $1,820 |
| 2 Bed Rent | $1,900 | $1,940 |
| 3 Bed Rent | $2,400 | $2,440 |
| 4 Bed Rent | $3,000 | $3,140 |
% 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 72. This is a increase of 31.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | -8.0% |
Listing Count | 316 | 13.0% |
| Listings as % of Homes | 1.5% | 13.0% |
Days on Market | 72 | 31.0% |
Demographics — Homestead, FL
As of the latest ACS Survey released in 2023, Homestead, FL has a population of 18,800, which has increased by 19.8% over the past 5 years. Homestead, FL is a popular place for families, as children make up 28.1% of the population. The area has a moderately educated workforce, with 27.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,800 | 19.8% |
% Under 18 | 28.1% | -5.7% |
% Seniors | 5.7% | -31.3% |
% WFH | 5.5% | 44.7% |
% w/ College Degree | 27.9% | 6.9% |
As of the latest ACS Survey released in 2023, Homestead, FL is a predominantly hispanic area, with 63.4% of the population identifying as hispanic. The hispanic population has grown by 14.9% 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 33.0% of the population in Homestead, FL, and this percentage has increased by 37.5% 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 | 12.5% | -29.8% |
% Black | 20.7% | -15.5% |
% Hispanic | 63.4% | 14.9% |
% Asian | 0.5% | -50.0% |
% Foreign Born | 33.0% | 37.5% |
Mortgage and Risk — Homestead, FL
According to HUD data as of 2023, there were 516 mortgage originations in Homestead, FL, of which 51.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Homestead, FL. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 516 |
% Conventional Loans | 51.0% |
% Government Loans | 49.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Homestead, FL
As of 2024, the percent of homes in Homestead, FL under the Section 8 program is 18.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Homestead, FL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 641 |
Total Units Section 8 | 641 |
% Rentals under Section 8 | 18.9% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $260 | $1,800 | $2,060 |
| 2 Bedroom | $630 | $1,900 | $2,530 |
| 3 Bedroom | $870 | $2,400 | $3,270 |
| 4 Bedroom | $830 | $3,000 | $3,830 |
Affordability — Homestead, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $336,000 |
| Median Household Income | $67,600 |