Housing character
Opa-locka is known for its 1920s Moorish Revival municipal architecture, the largest collection of its kind in the country, set among modest single-family homes and apartment buildings. It is one of the county’s lowest-income cities, with ongoing redevelopment efforts around the airport and industrial zones.
Price character
The lowest price tier in Miami-Dade; an investor and value-add market rather than an owner-occupant one.
Zip codes
- 33054
Financing here
Conventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
Jumbo Loans
A jumbo loan is a mortgage larger than the FHFA conforming loan limit for your county, used for higher-priced homes.
DSCR Loans
A DSCR loan is an investment-property mortgage that qualifies you on the property’s rental income divided by its monthly payment (the debt service coverage ratio).
Condo Loans
A condo loan is a mortgage on a unit in a condominium project, and approval depends on the building as well as the buyer.
FAQ
What is Opa-locka known for?
Opa-locka is known for its 1920s Moorish Revival municipal architecture, the largest collection of its kind in the country, set among modest single-family homes and apartment buildings. It is one of the county’s lowest-income cities, with ongoing redevelopment efforts around the airport and industrial zones.
Who buys in Opa-locka?
Value investors and house-hackers are the main buyers, targeting low entry prices and rental cash flow. Buyers should underwrite insurance, taxes and renovation costs carefully, and confirm lending options since some lenders restrict the area.
What do homes cost in Opa-locka?
The lowest price tier in Miami-Dade; an investor and value-add market rather than an owner-occupant one. Get a quote based on the actual property, every block prices differently.