Miami Real Estate Market Overview
Average Monthly Rent:
$1,738
Percentage Change in Home Price/Value:
1.50%
Median Home Value:
$335,000
Best Time To Sell Home:
June
Affordability Index:
95.6
Days To Sell House:
150.458
Job Market:
Fair
Public School Ranking:
26
Location and Weather
Miami is bordered by Biscayne Bay and is located at the mouth of the Miami River on the lower east coast of Florida. Miami’s semi-tropical environment means high humidity, warm summers and very mild winters. It is the second most humid city in the United States with abundant rainfall. Once piney woods and palmetto scrub, Miami now has beautiful beaches and Biscayne Bay for beachgoers and recreational boating and fishing.
Population, Job Market and Cost of Living
Miami’s population in 2018 was 470,914 with a growth rate of 1.92% over the year. The job market has increased 0.8% over the last year. The ten-year job growth is predicted to be 42.7%. It is a port city as the headquarters of Royal Caribbean Cruises, Fresh Del Monte Produce and Ryder System logistics services. Finance, International Trade and Tourism are also big industries. The prestigious University of Miami has its campus in Miami on over 400 acres in Miami/Dade County. Other major employers include American Airlines, Jackson Health System, and Baptist Health South Florida, Because of all its desirable features, Miami is an expensive place to live and the commute times due to traffic can be long.
Miami is all its hyped up to be from the exciting nightlife in clubs and restaurants to the beautiful awe-inspiring homes, hotels and museums that are a part of it. With a vibrant Latin American culture mixed with a sophisticated city vibe, Miami is a mecca of innovation in business and in the arts and a great urban place to live in Florida.
