Homestead today
What this means
Homestead home values slipped 2.7% in 12 months, now 6% below the Feb 2025 peak.
Builders are pulling back: 308 homes permitted so far in 2026, down 60%.
Rents are area estimates; check comps for the exact house. Sources and method: how these figures are built.
Quick facts
| Homestead | vs Miami-Dade County | vs Florida | |
|---|---|---|---|
| Population | 86,242 (2025 estimate) | ||
| Growth since 2020 | 6.8% | +3.1 pts | -2.1 pts |
| Median home value | $380,000 | 18% lower | 6% higher |
| Median gross rent | $1,674 | 8% lower | about the same |
| Median household income | $65,423 | 9% lower | 12% lower |
| Owner occupied homes | 48.3% | -3.9 pts | -19.3 pts |
| Residents 65 and older | 8.5% | -8.4 pts | -12.8 pts |
| Average commute (minutes) | 36 | 16% higher | 28% higher |
| Homes built 2010 or later | 16.8% | +5.4 pts | +2.6 pts |
| Median property tax paid | $3,928 | 5% higher | 44% higher |
Census survey figures are 2020 to 2024 averages; methods.
Living in Homestead
South Miami Dade city between Biscayne and Everglades national parks, a farm and suburb town incorporated in 1913.
Homestead is a city with its own government, located in Miami-Dade County.
Known for: Homestead Miami Speedway; Coral Castle; Fruit and Spice Park; Homestead Air Reserve Base
Getting around and growth: Sits at the south end of the Turnpike's Homestead Extension where it meets US 1.
Against the Miami-Dade County averages, less of the housing is in apartment and condo buildings (29.7% vs 44.7%); households are larger (3.21 vs 2.76 people); the population is younger (8.5% age 65 or older vs 16.9%) and commutes are longer (36 vs 31 minutes).
Cities with similar prices and rents: St. Petersburg ($371,100, $1,663), Mount Dora ($381,900, $1,722), Carrollwood ($384,600, $1,715).
Growth and housing
The Census estimates 86,242 residents in 2025, up from 80,725 in 2020: 6.8% growth.
| 2025 building permits | Homestead |
|---|---|
| Single family | 582 |
| 5 or more units | 353 |
| Total units | 935 |
| Per 1,000 residents | 10.8 |
Half the homes are older than 2001. The housing mix is 39% detached houses and 29.7% larger buildings. Average household size is 3.21.
0.8% of residents moved in from another state in the past year (county 1.3%).
Risks to price in
| Risk item | Detail |
|---|---|
| County average homeowners insurance with wind | $5,975 a year |
| Hurricanes tied to Miami-Dade County since 2000 | Katrina (2005) |
| Coastal county | check flood zone and elevation per address |
Large buildings hold 11.5% of homes here; read the reserve study before buying a condo. Condo financing
Flood, storms and jobs
The city earned Community Rating System class 7; federal flood policies in its high risk zones cost 15% less. 606 flood claims ($7,916,976) have come from Homestead since 2000. The Miami-Dade County guide covers storms, flood claims and employers; 40.5% of county homes are in high risk flood zones.
Buying a home in Homestead
| 2026 loan limits (county) | Amount |
|---|---|
| FHA, one unit | $667,000 |
| Conforming, one unit | $832,750 |
| Median home value here | $380,000 |
Price to income: 5.8x, compared with 6.5x for the county.
- Conventional: mortgage insurance drops off as equity builds.
- FHA: works for the typical $380,000 home here.
Investing in Homestead
Long term rentals
| Homestead | vs Miami-Dade County | |
|---|---|---|
| Renter occupied homes | 51.7% | +3.9 pts |
| Rental vacancy | 5.6% | +0.1 pts |
| Rent as share of renter income | 38.4% | +0.2 pts |
Short term rentals
Seasonal and vacation homes: 0.2% of the stock, against 4.6% countywide.
| Short term rental taxes | Rate |
|---|---|
| County tourist development tax | 6% |
| State sales tax | 6% plus any county surtax |
Rules vary street by street; verify zoning and HOA limits early. State rules
Property types
| Housing stock | Share |
|---|---|
| Single family detached | 39% |
| Buildings with 5+ units | 29.7% |
| Manufactured homes | 2.2% |
Nearby
Other Florida markets
Sources
- U.S. Census Bureau, American Community Survey 2020 to 2024 5 year estimates. 2020 to 2024.
- U.S. Census Bureau, Population Estimates, Vintage 2025. July 1, 2025.
- U.S. Census Bureau, Building Permits Survey, 2025 annual. 2025.
- FFIEC HMDA Data Browser, originated loans. 2025 and 2024.
- LendingTree: 2026 FHA loan limits in Florida by county (HUD figures). 2026.
- Florida Realtors: FHFA sets 2026 conforming loan limits. 2026.
- Florida Office of Economic and Demographic Research: 2026 local option tourist tax rates. 2026.
- Florida Office of Insurance Regulation, July 2026 Insurance Stability Unit report (average homeowners premium with wind, as of March 31, 2026). March 31, 2026.
- Freddie Mac Primary Mortgage Market Survey. week of October 22, 2026.
- Wikipedia: List of counties in Florida. checked October 2026.
- U.S. Census Bureau county adjacency file. 2024.
- Wikipedia county article and statewide lists (colleges, teams, airports); Florida Defense Support Task Force installation map. checked October 2026.
- Wikipedia article for this place (history, setting, roads). checked October 2026.
- Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted. September 2026.
- Federal Housing Finance Agency House Price Index (county annual, metro and state quarterly, all transactions). through Q2 2026.
- U.S. Census Bureau, Building Permits Survey, January to September 2026 and 2025. September 2026.
- FEMA OpenFEMA, NFIP Residential Penetration Rates. as of August 2026.
- FEMA OpenFEMA, FIMA NFIP Redacted Claims (2000 to 2026). as of September 2026.
- FEMA OpenFEMA, NFIP Community Status Book (Community Rating System class). August 2026.
- FEMA OpenFEMA, Disaster Declarations Summaries (2000 to 2026). October 2026.
- U.S. Census Bureau, County Business Patterns 2023. 2023.
- U.S. Census Bureau, ACS 2020 to 2024, median gross rent by bedrooms (B25031). 2020 to 2024.
- Hurricane landfalls: Wikipedia, List of Florida hurricanes (2000 to present). checked October 2026.
Estimates from public data; they change over time. General information, not investment, tax or legal advice, and not a loan offer. Methods and assumptions.