South Bay, FL—33493
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Bay, FL
As of Oct '25, the median home price in South Bay, FL is $226,000, with a year-over-year change of 1.9%. This indicates that home prices in South Bay, FL are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $226,000 | 1.9% |
| Single Family | $226,000 | 0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $238,000 | -2.9% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — South Bay, FL
As of July '25, Rentcast reports the average rent in South Bay, FL is $1,720, with a year-over-year rent change of 4.2%. Per bedroom, the median rent as of July '25 in South Bay, FL is 2-bedrooms: $1,250, 4-bedrooms: $2,200. The most common rental property sizes in South Bay, FL are 2-bedroom and 3-bedroom, accounting for 68.9% and 21.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,720 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,250 | $1,250 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,200 | $2,200 |
% of Rental Stock
Property Listings — South Bay, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in South Bay, FL is 91. This is a decrease of -56.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $210,000 | -7.0% |
Listing Count | 3 | 25.0% |
| Listings as % of Homes | 0.4% | 25.0% |
Days on Market | 91 | -56.0% |
Demographics — South Bay, FL
As of the latest ACS Survey released in 2023, South Bay, FL has a population of 5,070, which has decreased by -8.5% over the past 5 years. South Bay, FL is a moderately popular place for families, as children make up 16.3% of the population. The area has a poorly educated workforce, with 8.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,070 | -8.5% |
% Under 18 | 16.3% | 27.3% |
% Seniors | 10.3% | 47.1% |
% WFH | 5.1% | 628.6% |
% w/ College Degree | 8.3% | 45.6% |
As of the latest ACS Survey released in 2023, South Bay, FL is a predominantly black area, with 63.0% of the population identifying as black. The black population has grown by 16.7% in the last 5 years. The second most common race or ethnicity in South Bay, FL is hispanic, making up 21.4% of the population. Foreign-born residents account for 18.2% of the population in South Bay, FL, and this percentage has decreased by 9.9% 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 | 11.2% | -43.4% |
% Black | 63.0% | 16.7% |
% Hispanic | 21.4% | -11.9% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 18.2% | -9.9% |
Mortgage and Risk — South Bay, FL
According to HUD data as of 2023, there were 11 mortgage originations in South Bay, FL, of which 27.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in South Bay, FL. Investor activity is low, as 0.0% of loans were by investors. 27.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 11 |
% Conventional Loans | 27.0% |
% Government Loans | 73.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 27.0% |
Loan Activity
Rentals and Section 8 — South Bay, FL
South Bay, FL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 182 |
Total Units Section 8 | 182 |
% Rentals under Section 8 | 44.1% |
% Occupied Section 8 | 75.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,180 |
| 2 Bedroom | $160 | $1,250 | $1,410 |
| 3 Bedroom | N/A | N/A | $1,840 |
| 4 Bedroom | $0 | $2,200 | $2,200 |
Affordability — South Bay, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $226,000 |
| Median Household Income | $52,400 |