Miami-Dade Leads South Florida in Home Value Increases Despite Rising Interest Rates
Despite the dampening effect of higher interest rates, home values in South Florida have continued to climb, with Miami-Dade County leading the surge. Recent statistics from Florida Realtors indicate a 10% year-over-year increase in median prices for both houses and condos in the tri-county area. However, a deeper dive into the data from Zillow Inc., as reported by the Business Journal, reveals an intriguing trend in ZIP codes across Miami-Dade County.
In Miami-Dade, the top five ZIP codes, all with median home values below $500,000, experienced value increases ranging from 10 to 11%. This contrasts with Broward County’s top ZIP codes, which saw near 8% increases, and Palm Beach County’s, where the rise hovered around 5% to 6%. Boca Raton’s ZIP code…
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