Major housing developments and low prices have brought people from all over the country to Homestead.
Homestead’s home construction and real estate market has grown over the past years due to the availability of vacant land. GlobeSt.com said that the residential population of the area is projected to increase 7.7% by 2023.
“We’ve had lots of developments from single-family to brand new villas and townhomes,” said Vice Mayor Patricia Fairclough-Staggers. “I definitely think people are moving down because of the family-friendly environment Homestead has to offer.”
Fairclough-Staggers said the abundance of recreational areas and quality infrastructure has motivated people to relocate to the area.
“As a government official, I’m impressed by the growth in the Homestead population,” said Fairclough-Staggers.
Most of the major home constructions have occurred near the Florida Turnpike and near elementary schools.
“Small families are always looking for homes that are close to shopping centers, but the most common one has to be public schools,” said Juan Carlos Angulo, a realtor for Keys Gate Realty. “That’s something that motivates home construction companies when looking for land.”
Angulo said more developments will start coming very soon due to the high prices in different areas in South Florida.
“People are going to prefer favorable prices in the housing market than high prices, and now with the pandemic, even more,” said Angulo. “They will be willing to commute to their jobs in Miami, but they are definitely saving money.”
Miami-Dade County Homes said Homestead offers single-family homes at a rent of $1,034, compared to Miami, Brickell area at $3,609.
Homebuilders have seen the advantage of building homes in Homestead due to the southern parts of Kendall and Miami filling in, said Kelli Farrell, who works for Keys Gate Realty.
“The growth in home developments has allowed Homestead to have a greater population,” said Farrell. “It’s very beneficial for the economy in the community.”
Farrell said rents in Homestead are far lower for the same type and size of unit compared to the areas in Miami.
The Keys Gate Realty Team, Farrell and Angulo, said that the demand in homes will lead to homebuilders buying land for future home developments.
In recent years Homestead has become a place where elders choose to retire, and this has increased home development.
“Homestead is less busy compared to the dense areas up in Miami,” said Doris Canakis, a realtor associate.