The story of this market
The typical home in ZIP 33031 sells for about $909,055, or $297 per square foot.
Prices are up +1.4% from a year ago, so sellers still have some momentum. Homes take about 43 days to sell. HUD's fair market rent for a two-bedroom is $1,745 a month.
ZIP 33031 — Homestead
The 33031 housing market remains expensive relative to local incomes, with a high price-to-income ratio driving a 'frothy' market score. While inventory is tight and price cuts are relatively infrequent, the market has seen modest year-over-year growth. Buyers are primarily focused on single-family homes, though affordability remains a significant constraint for many.
This ZIP is best suited for family buyers and those seeking larger lots or agricultural-lifestyle properties, as it offers more space than the dense urban core of Miami.
Median prices moved up 1.4% year over year.
Homes spend a median of 43 days on market with 16.8 months of supply — a balanced-paced market.
16% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.7% · poverty 7.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 33031, Miami-Dade County FL
Schools serving the area are part of the Miami-Dade County Public Schools system, which maintains a diverse range of magnet and traditional public school options.
The area is subject to significant hurricane and wind risk, necessitating robust property insurance coverage and adherence to strict building codes.
The area is experiencing steady residential development, particularly in the Redland and Homestead periphery, with a focus on single-family housing and agricultural-residential land use.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Florida) — Statewide Uniform Property Tax Lien Priority & Tax Deed Sale Enforcement: Unpaid real ad valorem and non-ad valorem taxes become a first-priority sovereign lien on January 1 of the tax year, superior to all mortgages and private liens. If unpaid by April 1 following the tax year, tax certificates are sold via competitive bidding under § 197.432. State (Florida) — Community Development District (CDD) Special Assessment & Financing Lien Mandate: Binds the parcel to non-ad valorem assessments levied directly by the CDD board to fund infrastructure bonds (capital assessments) and operations/maintenance (O&M assessments). State (Florida) — Florida Constitutional Homestead Exemption & Save Our Homes (SOH) Assessment Cap: Reduces taxable value by up to $50,000: base $25,000 exemption applies to all taxing authorities (including school districts); second $25,000 exemption applies to assessed value between $50,000 and $75,000 for non-school millage. State (Florida) — Florida Ad Valorem Real Property Assessment & Tax Mechanics: Parcels are assessed annually at 100% just value (market value) as of January 1 by county property appraisers. Tax formula: Tax Bill = (Taxable Value / 1,000) * Total Levied Millage Rate. Assessed Value = Just Value - Assessment Limitations.
Commutes are primarily car-dependent, with residents relying on the Florida Turnpike and US-1 for access to employment centers in Kendall and Downtown Miami.
The area features extensive agricultural tourism, proximity to Everglades National Park, and local parks like the Redland Fruit and Spice Park.
The rental market is characterized by a mix of single-family home rentals and agricultural-adjacent housing, with limited high-density apartment inventory.
The local economy is heavily anchored by agriculture, tourism, and support services for the nearby Homestead Air Reserve Base.
Transportation is dominated by private vehicle use, with limited public transit options beyond regional bus connections to the Metrorail system.
Development is focused on low-density residential growth and the preservation of agricultural land buffers.
The Miami-Dade County Property Appraiser manages assessments, with annual adjustments based on market sales and homestead exemption filings.
Parcels are subject to Miami-Dade County school and municipal taxes, with some areas served by specific water and drainage districts.
Property insurance premiums are high due to regional hurricane exposure, with many residents relying on the state-backed Citizens Property Insurance Corporation.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Everglades Safari Park4.418.1 mi
- Christmas Wonderland - Miami3.517.4 mi
- Urban Air Trampoline and Adventure Park4.411.1 mi
- Dave & Buster's Miami4.419 mi
- Off The Wall Kendall4.811.8 mi
- Miccosukee Casino & Resort416.1 mi
- Miami-Dade County Fair & Exposition, Inc.4.316.6 mi
- Homestead-Miami Speedway4.77.3 mi
- Watsco Center4.618.2 mi
- Topgolf Miami - Doral4.219.2 mi
- Zoo Miami4.57.9 mi
- Ernest F. Coe Visitor Center4.711.1 mi
- Everglades Alligator Farm4.69.5 mi
- Coral Castle4.43.4 mi
- Regal Kendall Village4.312.4 mi
- Coral Castle4.43.4 mi
- Ocean Reef Club4.319.9 mi
- Monkey Jungle44.3 mi
- Deering Estate4.712.6 mi
- Patricia and Phillip Frost Art Museum4.517 mi
- Zoo Miami4.57.9 mi
- Ernest F. Coe Visitor Center4.711.1 mi
- Everglades Alligator Farm4.69.5 mi
- Larry and Penny Thompson Memorial Park and Campground4.57.6 mi
- Homestead Bayfront Park4.410.6 mi
- Black Point Park and Marina4.610 mi
- Ocean Reef Club4.319.9 mi
- Cocoplum Yacht Club4.818.9 mi
- Matheson Hammock Marine Fuel4.517.6 mi
- Deering Bay Marina4.614.1 mi
- Miccosukee Golf & Country Club4.312.7 mi
- Palmetto Golf Course411.2 mi
- Killian Greens Golf Club3.512.8 mi
- Briar Bay Golf Course3.611.9 mi
- Redland Golf & Country Club4.30.9 mi
- The Falls4.612.2 mi
- Robert Is Here Fruit Stand4.65.8 mi
- Florida Keys Outlet Marketplace4.45.5 mi
- Southland Mall4.28 mi
- The Berry Farms4.35.2 mi
- Miami International Airport3.922.2 mi
- Miami-Opa Locka Executive Airport4.629.5 mi
- Miami Executive Airport4.59 mi
- Ocean Reef Club4.319.9 mi
- Hialeah Executive Motel3.524 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A unique 37-acre botanical garden featuring exotic fruits and spices.
Provides extensive outdoor recreation and nature trails bordering the area.
Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).