The story of this market
The typical home in ZIP 33161 sells for about $582,000, or $395 per square foot.
Prices are down 6.7% from a year ago, which gives buyers more room to negotiate. Homes take about 52 days to sell. HUD's fair market rent for a two-bedroom is $1,611 a month.
ZIP 33161 — North Miami
The 33161 housing market is currently experiencing a cooling phase, with a median price of $582,000 and a year-over-year decline of 6.7%. High inventory levels relative to sales volume have shifted the market toward a buyer's advantage, with homes spending an average of 52 days on the market. Market activity is driven by broader economic pressures and a stabilization of prices following previous rapid growth.
This ZIP is well-suited for commuters and families seeking more affordable housing options compared to coastal Miami, as well as investors targeting the steady rental demand in the North Miami area.
Median prices moved down 6.7% year over year.
Homes spend a median of 52 days on market with 6.3 months of supply — a balanced-paced market.
18% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.8% · poverty 19.5% — a mixed stability 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 10.6%/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 7.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 33161, Miami-Dade County FL
Crime rates in the North Miami area are generally higher than the national average, with property crime being the most frequently reported issue in the region.
Schools serving the 33161 area are part of the Miami-Dade County Public Schools system, which features a mix of magnet programs and traditional public schools with varying performance ratings.
The area faces significant risks from tropical storms and hurricanes, necessitating high wind-insurance premiums and adherence to strict flood-zone building codes.
Economic momentum is driven by proximity to the Miami employment core and ongoing redevelopment projects along the Biscayne Corridor and North Miami's downtown district.
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 typically commute via I-95 or Biscayne Boulevard toward downtown Miami or Fort Lauderdale, with transit options provided by Miami-Dade Transit bus routes.
The area features access to Oleta River State Park, various local community parks, and proximity to the shopping and dining districts of North Miami and nearby Aventura.
The rental market is characterized by high demand and steady rent growth, with a significant presence of multi-family apartment complexes and individual investor-owned units.
The local economy is anchored by retail, healthcare, and service industries, with many residents commuting to the broader Miami-Fort Lauderdale employment hub.
The area is served by major highway corridors including I-95 and US-1, with public transit provided by the Miami-Dade bus network.
Development is focused on infill projects and the revitalization of older commercial properties along the primary transit corridors.
The Miami-Dade County Property Appraiser manages assessments, with values updated annually based on market sales and property improvements.
Parcels are subject to Miami-Dade County school district taxes and various municipal service district levies.
Property insurance premiums are high due to hurricane exposure, with many residents relying on the state-backed Citizens Property Insurance Corporation.
Data retrieved from Census Reporter and ACS 2024 profiles.
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 Island4.17.3 mi
- Paradox Museum Miami4.86.4 mi
- C.B. Smith Park4.612 mi
- Dave & Buster's Hollywood4.110.4 mi
- Tidal Cove4.25.6 mi
- Hard Rock Stadium4.65.8 mi
- Bayside Marketplace4.57.9 mi
- Kaseya Center4.77.6 mi
- Wynwood Walls4.76.3 mi
- LoanDepot Park4.58.1 mi
- Bayside Marketplace4.57.9 mi
- Wynwood Walls4.76.3 mi
- Vizcaya Museum & Gardens4.710.3 mi
- Bayfront Park4.78 mi
- Phillip & Patricia Frost Museum of Science4.47.3 mi
- Wynwood Walls4.76.3 mi
- Vizcaya Museum & Gardens4.710.3 mi
- Phillip & Patricia Frost Museum of Science4.47.3 mi
- MUSEUM OF ICE CREAM4.67.5 mi
- Pérez Art Museum Miami4.57.3 mi
- Wynwood Walls4.76.3 mi
- Bayfront Park4.78 mi
- South Pointe Park Pier4.89.4 mi
- Haulover Nude Beach4.84.2 mi
- South Pointe Park4.89.1 mi
- Bayside Marketplace4.57.9 mi
- Venetian Marina & Yacht Club4.66.9 mi
- Mykonos Kitchen and Bar4.54.3 mi
- Island Gardens Marina4.67.4 mi
- Haulover Marine Center4.54.1 mi
- Topgolf Miami Gardens4.33.4 mi
- Normandy Shores Golf Course4.53.3 mi
- Miami Shores Country Club4.41.6 mi
- Riviera Country Club4.712.7 mi
- Puttery4.86.2 mi
- Aventura Mall4.65.2 mi
- Brickell City Centre4.78.6 mi
- Bayside Marketplace4.57.9 mi
- Bal Harbour Shops4.73.5 mi
- Pembroke Lakes Mall4.511.2 mi
- Miami International Airport3.99.2 mi
- Miami-Opa Locka Executive Airport4.65.5 mi
- Fort Lauderdale Executive Airport4.521.4 mi
- Miami Executive Airport4.522.7 mi
- Banyan Air Service4.721 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Florida's largest urban park featuring kayaking, trails, and picnic areas.
Community resource center serving the local population.
Major commercial corridor with diverse retail and restaurant options.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).