33172, Miami, FL

The Miami 33172 zip code is one of the most popular and expensive in the state of Florida. Home prices in this area have increased significantly over the past several years, making it a desirable place to live. In fact, according to Zillow, the median home value in this zip code is $564,500. This makes it one of the most expensive zip codes in all of Florida.

One reason for this high price tag is that there are a lot of affluent people living in this area. Many wealthy individuals own vacation homes or investment properties here, and they are willing to pay top dollar for them. Additionally, many businesses located in this area cater to high-income earners. This includes major corporations like American Express and Bank of America as well as prestigious law firms and medical centers. Consequently, there is a lot of demand for property in this area and prices have risen accordingly.

Despite these high prices, not everyone can afford to live in the Miami 33172 zip code. In fact, according to Zillow’s affordability index, only about 36% of households can afford a home here on an annual basis without taking on significant debt burdens or sacrificing other important aspects of their lives. This means that many people who want to live in this area must either be very wealthy or have access to substantial financial resources that they can use to purchase a home outright.

Even though it’s not for everyone, if you’re looking for an upscale location with plenty of amenities and plenty of potential for price appreciation – the Miami 33172 zip code should definitely be on your list!