33196, Miami, FL

The 33196 zip code of Miami, FL has a population of over 1.5 million people and is one of the most populous zip codes in Florida. The median home value in this zip code is $269,000 which makes it one of the more expensive zip codes in Miami. The average home value in this zip code has increased by over 20% since 2013 and is projected to continue to increase over the next few years.

One reason for the high home values in this zip code is that there are a lot of affluent residents living here. The percentage of households earning over $100,000 annually is well above the statewide average and there are also a lot of luxury homes available for sale. Additionally, many people are buying homes here because they believe that prices will continue to rise in the future.

However, not everyone believes that prices will continue to increase indefinitely. There have been some concerns raised about the housing market bubble and whether or not it will burst eventually. If this happens, then prices could drop significantly which would impact homeownership rates and home values in this area.