The story of this market
The typical home in ZIP 33128 sells for about $399,000, or $545 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 82 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,452 a month.
ZIP 33128 — Miami
The housing market in 33128 is characterized by high rental demand and steady price appreciation driven by its central location in downtown Miami. While inventory remains tight, the area continues to attract urban-focused buyers and investors. Note that some specific metrics like median home value are based on recent market listings as official census data for owner-occupied values in this specific ZCTA is limited.
This ZIP is best suited for urban professionals, commuters, and investors who prioritize proximity to the downtown Miami business and entertainment hubs over suburban space.
Median prices moved up 4.2% year over year.
Homes spend a median of 82 days on market with 5.8 months of supply — a balanced-paced market.
12% 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 4.3% · poverty 19.0% — 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 7.6%/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 6.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 33128, Miami-Dade County FL
The area experiences higher property and violent crime rates compared to the national average, consistent with its dense urban core location in downtown Miami.
Public schools serving this ZIP are part of the Miami-Dade County Public Schools district, with performance ratings generally varying significantly by specific school site.
The area is subject to high wind and hurricane risks typical of South Florida, necessitating robust property insurance coverage and adherence to strict building codes.
The area is experiencing significant urban densification with major mixed-use developments and corporate office expansions occurring in the immediate downtown Miami vicinity.
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.
Residents benefit from high walkability and proximity to the Metromover and Metrorail systems, providing efficient transit access to the downtown Miami employment core.
The ZIP features proximity to Bayfront Park, various urban plazas, and the cultural amenities of the downtown Miami district, including museums and waterfront dining.
The rental market is highly active with a strong presence of multi-family apartment communities and high demand driven by urban professionals and proximity to the central business district.
The economy is anchored by government services, legal and professional services, and the hospitality industry centered in downtown Miami.
The area is served by major highway corridors including I-95 and extensive public transit via the Miami-Dade Transit system.
Significant urban infill and high-rise residential projects are continuously approved and under construction throughout the downtown Miami area.
The Miami-Dade County Property Appraiser manages assessments, utilizing a market-value approach adjusted for state-mandated caps.
Parcels are subject to Miami-Dade County, City of Miami, and Miami-Dade County Public Schools taxing districts.
Property insurance premiums are elevated due to regional hurricane exposure and the state's challenging insurance market conditions.
Data retrieved from Census Reporter and data.census.gov profiles for ZCTA 33128.
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.
- Jungle Island4.11.9 mi
- Paradox Museum Miami4.81.6 mi
- C.B. Smith Park4.618 mi
- Dave & Buster's Hollywood4.118.4 mi
- Tidal Cove4.213.4 mi
- Hard Rock Stadium4.612.7 mi
- Bayside Marketplace4.51.1 mi
- Kaseya Center4.71 mi
- Wynwood Walls4.71.7 mi
- LoanDepot Park4.51 mi
- Bayside Marketplace4.51.1 mi
- Wynwood Walls4.71.7 mi
- Vizcaya Museum & Gardens4.72.3 mi
- Bayfront Park4.71 mi
- Phillip & Patricia Frost Museum of Science4.41.1 mi
- Wynwood Walls4.71.7 mi
- Vizcaya Museum & Gardens4.72.3 mi
- Phillip & Patricia Frost Museum of Science4.41.1 mi
- MUSEUM OF ICE CREAM4.60.8 mi
- Pérez Art Museum Miami4.51.2 mi
- Wynwood Walls4.71.7 mi
- Bayfront Park4.71 mi
- Tropical Park4.78.3 mi
- South Pointe Park Pier4.84.6 mi
- Fairchild Tropical Botanic Garden4.88.1 mi
- Bayside Marketplace4.51.1 mi
- Miami Beach Marina4.73.9 mi
- Dinner Key Marina4.54 mi
- Venetian Marina & Yacht Club4.61.5 mi
- Island Gardens Marina4.61.6 mi
- Topgolf Miami Gardens4.310.8 mi
- Topgolf Miami - Doral4.211.6 mi
- Normandy Shores Golf Course4.56.6 mi
- Riviera Country Club4.75.6 mi
- Miami Shores Country Club4.46.5 mi
- Dolphin Mall4.611.1 mi
- Brickell City Centre4.70.9 mi
- Bayside Marketplace4.51.1 mi
- Dadeland Mall4.69.1 mi
- Miami International Mall4.510.1 mi
- Miami International Airport3.95.1 mi
- Miami-Opa Locka Executive Airport4.610 mi
- Fort Lauderdale Executive Airport4.529.3 mi
- Miami Executive Airport4.516.6 mi
- Banyan Air Service4.728.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major public park located on the waterfront in downtown Miami.
Located within the Stephen P. Clark Center in the heart of the ZIP.
Extensive retail and dining options serving the urban core.
Key-figure check: median price diverges 37.8% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $549,950 (+37.8% vs the prior refresh cycle) failed independent re-validation and was reverted to the prior cycle value; the case is under review in the Command Center.