North Miami, FL—33161
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in North Miami, FL
Home Price Trends — North Miami, FL
As of Oct '25, the median home price in North Miami, FL is $487,000, with a year-over-year change of -4.4%. This indicates that home prices in North Miami, FL are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $487,000 | -4.4% |
| Single Family | $563,000 | -5.2% |
| Condos | $157,000 | -13.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $144,000 | -13.3% |
2 Bed | $380,000 | -5.7% |
3 Bed | $568,000 | -5.3% |
4 Bed | $655,000 | -4.9% |
| 5 Bed | $827,000 | -4.1% |
% of Housing Stock
Rental Trends — North Miami, FL
As of July '25, Rentcast reports the average rent in North Miami, FL is $2,580, with a year-over-year rent change of -8.5%. Per bedroom, the median rent as of July '25 in North Miami, FL is studios: $1,380, 1-bedrooms: $1,670, 2-bedrooms: $2,450, 3-bedrooms: $4,060, 4-bedrooms: $4,220. The most common rental property sizes in North Miami, FL are 2-bedroom and 1-bedroom, accounting for 41.0% and 37.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,580 |
| Studio Rent | $1,300 | $1,380 |
| 1 Bed Rent | $1,650 | $1,670 |
| 2 Bed Rent | $2,250 | $2,450 |
| 3 Bed Rent | $3,620 | $4,060 |
| 4 Bed Rent | $3,480 | $4,220 |
% of Rental Stock
Property Listings — North Miami, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in North Miami, FL is 87. This is a increase of 24.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $590,000 | 3.0% |
Listing Count | 277 | 10.0% |
| Listings as % of Homes | 0.9% | 10.0% |
Days on Market | 87 | 24.0% |
Demographics — North Miami, FL
As of the latest ACS Survey released in 2023, North Miami, FL has a population of 54,100, which has decreased by -2.8% over the past 5 years. North Miami, FL is a moderately popular place for families, as children make up 23.1% of the population. The area has a poorly educated workforce, with 21.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,100 | -2.8% |
% Under 18 | 23.1% | -3.3% |
% Seniors | 13.9% | 16.8% |
% WFH | 6.4% | 68.4% |
% w/ College Degree | 21.0% | 6.6% |
As of the latest ACS Survey released in 2023, North Miami, FL is a predominantly black area, with 56.9% of the population identifying as black. The black population has shrunk by 11.0% in the last 5 years. The second most common race or ethnicity in North Miami, FL is hispanic, making up 31.4% of the population. Foreign-born residents account for 51.1% of the population in North Miami, FL, and this percentage has decreased by 2.5% 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 | 7.9% | -12.2% |
% Black | 56.9% | -11.0% |
% Hispanic | 31.4% | 25.1% |
% Asian | 1.8% | -25.0% |
% Foreign Born | 51.1% | -2.5% |
Mortgage and Risk — North Miami, FL
According to HUD data as of 2023, there were 356 mortgage originations in North Miami, FL, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in North Miami, FL. Investor activity is low, as 4.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 356 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — North Miami, FL
As of 2024, the percent of homes in North Miami, FL under the Section 8 program is 9.6%. 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 units appear to be good home sizes to consider for Section 8 housing in North Miami, FL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,187 |
Total Units Section 8 | 1,185 |
% Rentals under Section 8 | 9.6% |
% Occupied Section 8 | 88.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,650 | $1,780 |
| 2 Bedroom | -$60 | $2,250 | $2,190 |
| 3 Bedroom | -$790 | $3,620 | $2,830 |
| 4 Bedroom | -$160 | $3,480 | $3,320 |
Affordability — North Miami, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.9 |
| Median Home Price | $487,000 |
| Median Household Income | $55,300 |