Homestead, Florida

Miami-Dade County Real Estate - Homestead

Homestead is in South East Florida. It's population as recorded in the 2010 Census was 60,512.

The median age for residents of Homestead is 29.1. Around 49.8% of Homestead households include school aged children and 15.4% of households include individuals aged 65 years or over. Census records indicate 66.8% of the Homestead population are White, 20.3% are Black or African American, .4% American Indian, 1.1% Asian and 3.7% are Two or more Races. Homestead has a significant Hispanic population. 62.9% (38,078) of Homestead residents are of Hispanic or Latino origin. Of these 24.45% are of Mexican origin, 13.61% Puerto Rican, 25.01% Cuban and 36.91% are of other Hispanic or Latino origin.

There are 23,419 housing units in Homestead. 4,423 (18.8%) of these were reported as vacant in the 2010 Census. There are 13,138 residential rental units in Homestead. 11,202 of them were occupied in 2010 providing a residential rental vacancy rate of 14.4%.

Homestead links:

Sue Goldthorp

I'm here to help

My name is Sue Goldthorp. I am a real estate broker and co-founder of Visulate. Drop me a line if you would like me to help you buy or sell a property in Homestead, Florida.

Homestead is located in Miami-Dade County. It has a population of approximately 60,512 people. The population increased 4.4% from 2010 to 2012. This compared to a 2.7% increase for the State of Florida, 3.8% for Miami-Dade County and a 1.7% increase for the country as a whole. Homestead occupies 15.14 of the 1897.72 square miles in Miami-Dade County. It had a population density of 3996.8 persons per square mile in 2010. This compared to 1315.5 for the county, 350.6 for Florida and 87.4 for the country.

2.4% ( 23,419) of the 990,558 housing units in Miami-Dade County are in Homestead (a housing unit is defined by the US Census Bureau as a house, apartment, mobile home, group of rooms, or single room that is occupied as separate living quarters.) Homestead has a 42.8% homeownership rate compared to Miami-Dade County's 57.6% homeownership rate and Florida's rate of 69.0%.

Economic Indicators
RegionPopulation
2010
Economic Activity
2007 (Millions)
Population Growth
2010 to 2012
Median Household
Income 2011
Housing
Units
Median Price
2007 to 2011
United States 313,914,040 $14,025,202 1.7% $52,762 132,312,404 $186,200
Florida 18,801,310 $630,738 2.7% $47,827 9,026,965 $188,600
Miami-Dade County 2,496,435 $110,643 3.8% $43,957 990,558 $246,800
Homestead 60,512 $7344.4%$38,724 23,419$169,600

Homestead's medium household income in 2011 was $38,724. Miami-Dade County's medium household income was $43,957, which is lower than the medium income for Florida as a whole: $47,827. 29.3% of the population in Homestead lives below the poverty line, compared to 14.7% in Florida, 17.9% of the population in Miami-Dade County and 14.3% nationwide. Additional Information:

Homestead Economic Activity

The U.S. Bureau of the Census, Economic Census, 2007 calculated the total value manufacturing, merchant wholesaler, retail sales and food service sales in Homestead. The Census measured activity of large and medium-sized firms during calendar year 2007. It does not include every aspect of the economy but can be used as a measure of economic activity.

At $734 million, Homestead's economic activity represents 0.66% of Miami-Dade County's $110,643MM in economic activity. Miami-Dade County represents 17.54% of the Florida economy.

Homestead Economic Activity
ActivityValue (Millions)Percentage
Manufacturers shipments $0 0.0%
Merchant wholesaler sales $155 21.2%
Retail sales $513 69.9%
Accommodation and food services sales $66 8.9%
Total $734100%

Miami-Dade County Regional Comparisons

Economic Indicators
CityPopulation
2010
Economic Activity
2007 (Millions)
Population Growth
2010 to 2012
Median Household
Income 2011
Housing
Units
Median Price
2007 to 2011
Hialeah 224,669 $5,0373.2%$31,096 74,067$197,800
Homestead 60,512 $7344.4%$38,724 23,419$169,600
Key Biscayne 12,344 $3923.4%$114,250 7,072$822,700
Miami 399,457 $19,2283.6%$30,270 183,994$257,500
Miami Beach 87,779 $2,8573.2%$42,411 67,499$349,400
North Miami Beach 41,523 $9703.5%$41,489 16,402$206,200
Opa locka 15,219 $1,0493.2%$22,214 5,966$145,000

Miami-Dade County is located in Southeast Florida. This region is responsible for 37.7% of Florida's economic activity. Miami-Dade County represents 46.6% of the region's economy.

Economic Indicators
RegionPopulation
2010
Economic Activity
2007 (Millions)
Population Growth
2010 to 2012
Median Household
Income 2011
Housing
Units
Median Price
2007 to 2011
Indian River County 138,028 $2,455 1.8% $46,363 76,251 $179,300
St. Lucie County 277,789 $5,576 2.2% $44,947 137,581 $157,600
Martin County 146,318 $4,347 1.7% $53,612 78,356 $238,200
Palm Beach County 1,320,134 $38,668 2.8% $52,951 668,159 $236,600
Broward County 1,748,066 $73,668 3.8% $51,782 810,795 $225,300
Miami-Dade County 2,496,435 $110,643 3.8% $43,957 990,558 $246,800
Monroe County 73,090 $2,136 2.4% $53,889 52,552 $463,100
Total 6,410,776 $237,494 2.6% $49,643 2,814,252 $249,557

Homestead Real Estate

There are 45,060 properties in Homestead. The following table shows a summary of them based on 2014 sales data.

Homestead Real Estate by Usage
Usage TypeProperty Count%Sales CountMedian PriceMedian Price/FtSales FromTo
Agricultural 2,064 4.58 39 $300,000 $103January 1st, 2014August 1st, 2014
Commercial Property 0 0.00 0n/an/an/an/a
Government Property 518 1.15 2 $110,000 $79February 1st, 2014August 1st, 2014
Health Care 5 0.01 0n/an/an/an/a
Hotel & Motel 51 0.11 3 $2,200,000 $172March 1st, 2014May 1st, 2014
Industrial 312 0.69 7 $220,000 $122January 1st, 2014August 1st, 2014
Miscellaneous Property 21 0.05 0n/an/an/an/a
Mobile/Manufactured 6 0.01 1 $82,000 $54August 1st, 2014August 1st, 2014
Multifamily 1,268 2.81 55 $90,000 $54January 1st, 2014August 1st, 2014
Office 250 0.55 4 $182,500 $78January 1st, 2014June 1st, 2014
Residential 39,745 88.20 3,498 $96,000 $67January 1st, 2014September 1st, 2014
Residential Property 0 0.00 0n/an/an/an/a
Retail 607 1.35 12 $860,000 $116March 1st, 2014August 1st, 2014
Senior Housing 9 0.02 0n/an/an/an/a
Special Purpose 177 0.39 2 $261,950 $125April 1st, 2014April 1st, 2014
Sports & Entertaining 27 0.06 0n/an/an/an/a

Agricultural Real Estate in Homestead, Florida

2,064( 4.58%) of the properties in Homestead are classified as Agricultural. 39 of them sold between January 1st, 2014 and August 1st, 2014. The total value of these sales was $13,346,132. The median sales price was $300,000. In 2014 the median sales price for A Class Agricultural in Homestead was $216 per sq ft, B Class properties sold for $103/ft and C Class $30/ft.

Commercial Real Estate in Homestead, Florida

0( .00%) of the properties in Homestead are classified as Commercial.

Government Real Estate in Homestead, Florida

518( 1.15%) of the properties in Homestead are classified as Government. 2 of them sold between February 1st, 2014 and August 1st, 2014. The total value of these sales was $220,000. The median sales price was $110,000. In 2014 the median sales price for Government Property in Homestead was $79 per sq ft.

Health Care Real Estate in Homestead, Florida

5( .01%) of the properties in Homestead are classified as Health Care.

Hotel & Motel Real Estate in Homestead, Florida

51( .11%) of the properties in Homestead are classified as Hotel & Motel. 3 of them sold between March 1st, 2014 and May 1st, 2014. The total value of these sales was $8,802,781. The median sales price was $2,200,000. In 2014 the median sales price for Hotel & Motel in Homestead was $172 per sq ft.

Industrial Real Estate in Homestead, Florida

312( .69%) of the properties in Homestead are classified as Industrial. 7 of them sold between January 1st, 2014 and August 1st, 2014. The total value of these sales was $3,669,577. The median sales price was $220,000. In 2014 the median sales price for Industrial in Homestead was $122 per sq ft.

Miscellaneous Real Estate in Homestead, Florida

21( .05%) of the properties in Homestead are classified as Miscellaneous.

Mobile/Manufactured Real Estate in Homestead, Florida

6( .01%) of the properties in Homestead are classified as Mobile/Manufactured. 1 of them sold between August 1st, 2014 and August 1st, 2014. The total value of these sales was $82,000. The median sales price was $82,000. In 2014 the median sales price for Mobile/Manufactured in Homestead was $54 per sq ft.

Multifamily Real Estate in Homestead, Florida

1,268( 2.81%) of the properties in Homestead are classified as Multifamily. 55 of them sold between January 1st, 2014 and August 1st, 2014. The total value of these sales was $10,015,573. The median sales price was $90,000. In 2014 the median sales price for A Class Multifamily in Homestead was $103 per sq ft, B Class properties sold for $54/ft and C Class $26/ft.

Office Real Estate in Homestead, Florida

250( .55%) of the properties in Homestead are classified as Office. 4 of them sold between January 1st, 2014 and June 1st, 2014. The total value of these sales was $8,630,000. The median sales price was $182,500. In 2014 the median sales price for Office in Homestead was $78 per sq ft.

Residential Real Estate in Homestead, Florida

39,745( 88.20%) of the properties in Homestead are classified as Residential. 3,498 of them sold between January 1st, 2014 and September 1st, 2014. The total value of these sales was $1,473,603,142. The median sales price was $96,000. In 2014 the median sales price for A Class Residential in Homestead was $101 per sq ft, B Class properties sold for $67/ft and C Class $39/ft.

Residential Real Estate in Homestead, Florida

0( .00%) of the properties in Homestead are classified as Residential.

Retail Real Estate in Homestead, Florida

607( 1.35%) of the properties in Homestead are classified as Retail. 12 of them sold between March 1st, 2014 and August 1st, 2014. The total value of these sales was $20,491,329. The median sales price was $860,000. In 2014 the median sales price for Retail in Homestead was $116 per sq ft.

Senior Housing Real Estate in Homestead, Florida

9( .02%) of the properties in Homestead are classified as Senior Housing.

Special Purpose Real Estate in Homestead, Florida

177( .39%) of the properties in Homestead are classified as Special Purpose. 2 of them sold between April 1st, 2014 and April 1st, 2014. The total value of these sales was $523,900. The median sales price was $261,950. In 2014 the median sales price for Special Purpose in Homestead was $125 per sq ft.

Sports & Entertaining Real Estate in Homestead, Florida

27( .06%) of the properties in Homestead are classified as Sports & Entertaining.

Homestead, Miami-Dade County Market Data

Homestead Real Estate
Property UsageProperty CountTotal Sq Ft
Agricultural 2,007 4,520,453
Government Property 477 6,581,942
Health Care 3 173,475
Hotel & Motel 48 836,726
Industrial 275 3,123,971
Land 3,116 282,534
Miscellaneous Property 20 708,926
Multifamily 1,220 10,005,060
Office 253 864,130
Residential 40,723 68,914,744
Retail 546 6,326,755
Senior Housing 8 63,815
Special Purpose 176 1,664,499
Sports & Entertaining 19 763,963