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If you’ve never been to Miami, you’re likely to have some preconceived ideas about what the city is like. Many of them probably involve fit, tan people hanging on the beach or in boats and wild nightclubs around every corner. But Miami is more than just a sensational vacation and party destination. The Magic City was the most popular relocation spot among America’s largest metro areas during the pandemic years. We’ve put together 13 compelling reasons why more and more people are choosing to relocate to Miami each year. If you feel the urge to start searching for homes for sale in Florida afterwards, we won’t judge.
1. Sunshine And Beautiful Weather All Year
One of Miami’s biggest perks is its year-round warm, sunny weather that fills the city with clear blue skies and warm waters, making it super convenient to enjoy everything it offers. Miami has a typical tropical climate, with hot, humid summers (do not worry, every place has an A/C unit) and mild winters. The average winter temperatures usually range between 60 and 75 degrees. The last time this city experienced snowfall was in 1977.
2. A Dynamic And Diverse Real Estate Market
Like most of South Florida, Miami has a vibrant and healthy real estate market with a proven reputation of consistency and above-average appreciation rates. After being hit by the pandemic, the city rebounded in July 2020 (quicker than many U.S. cities), and the demand for homes has been increasing since then. In addition, diminished inventory and low interest rates made prices soar to all-time highs in 2021. The median price for a home for sale in Miami is $465K, with a 12% year-over-year increase.
Whether you are a Florida native looking for a change of scenery, an intrepid out-of-state homebuyer, or a savvy foreign investor, Miami has real estate to fulfill your individual needs in roughly 40 distinct communities. Single-family homes, townhomes, multifamily dwellings, and even mansions of different ages, styles, and sizes change hands in the city every day. Still, the jewel in Miami’s real estate crown is the condominium.
Condo sales increased by almost 30% in Miami in 2021, generating profit in the double digits. The average cost of a condo for sale in Miami ranges between $400K and $600K, but there are considerably higher price tags on stylish condos in premium beachfront locations.
3. There’s a Neighborhood For Every One
Miami has a neighborhood, city, or town for every taste and budget, but the most popular ones, as expected, are those close to the ocean, like Miami Beach, Coconut Grove, and Key Biscayne. Singles and young professionals looking for a more artsy or culturally-relevant area can live their best lives in Wynwood or Little Havana.
On the other hand, Coral Gables, South Miami, and Pinecrest are very sought-after areas for traditional home buyers, families, and retirees looking to live in peaceful suburbs with upscale amenities with some of the highest property values in Miami. Urbanites craving luxurious real estate can relocate to Brickell, Downtown Miami, or Sunny Isles. These areas offer a sort of “Manhattan lifestyle” where no car is needed to access all the amenities, and the ocean lies at the turn of every corner.
4. Top-Tier Beaches Everywhere
It’s no secret that a major appeal of Miami is its world-renowned beaches. They stretch for 20 miles along the Atlantic coast, providing residents and visitors with a plethora of activities and experiences, including fishing, surfing and kayaking. From acclaimed South Beach to lesser-known nature reserves in Key Biscayne and family-friendly stretches of sand in Surfside, relocating to Miami will mean living where everyone else only vacations.
5. …But Miami Is More Than Beach Life
Anyone who has ever lived in Miami will tell you that it’s not only about the beach. While the city’s sandy shores are a significant draw, there is much more to this vibrant metropolis. From the art deco architecture of South Beach to the lively nightlife of Downtown, its world-class art galleries & museums, and endless opportunities to explore the great outdoors in the Everglades National Park, Miami has more to offer than turquoise waters and warm white sand.
6. It’s One Of The Best Cities For Boat Owners
Miami is a boat lovers’ paradise. The city not only has a wide selection of waterfront houses and mansions with unrestricted ocean access and boat decks in neighborhoods like Coconut Grove or Miami Beach. It also provides luxurious full-service marinas and budget-friendly boatyards, boating activities and events, beautiful waterways, and proximity to open waters. Whether you are a seasoned sailor or first-time boat owner, Miami will quickly become your happy place.
7. There’s No State Income Tax
A significant advantage of living in Florida is that there are no state income taxes here. Residents must pay only federal taxes. This means that Miami fixed-income residents can count on that extra money to save or spend on whatever they want or need. The lack of state personal income taxes also makes Miami attractive for businesses and entrepreneurs who can keep that portion of their earnings to grow their companies or reinvest in new projects.
8. Miami Is A Culinary Playground
If living in a city with a vibrant and diverse food scene is essential to you, Miami has you covered. The city is a true culinary playground providing hungry visitors and locals with everything from the traditional Cuban cuisine of a staple like Versailles Cuban Restaurant to the cutting-edge Japanese fusion dishes of Nobu Miami. There are also several iconic dishes you have to try here, including the Cuban sandwich, key lime pie, chicharron, arepas, and delicious stone crab claws. Every year the city lures top chefs and culinary talents from every corner of the world, so new restaurants and eateries are constantly popping up in Miami. If you planned your life to be a perennial foodie adventure, relocating to Miami is wise.
9. It Has A Booming Art Scene
The city’s thriving art scene is widely known and attracts thousands of visitors every year. Miami is home to several reputable art museums & collections and premium events like Art Basel. There’s also the Wynwood Arts District, a true street art immersive experience. Aside from the visual arts, you would probably be very busy with the other art manifestations. Be sure to catch a performance by the Miami Symphonic Orchestra or a play at Miami New Drama, watch a movie at an indie film festival, or attend a concert or ballet presentation. There will be countless opportunities to submerge yourself in the local art world, whatever your taste.
10. Every Sports Fan’s Dream
Miami is one of the best cities in the United States to be a sports fanatic. The city is home to two NBA teams, the Miami Heat and the Miami Marlins, as well as the NFL’s Miami Dolphins and, since 2018, David Beckham’s Inter Miami CF soccer club. It’s also a hotbed for college sports, with the University of Miami boasting a storied football program that has produced numerous NFL stars. And of course there’s always the beach for those who want to get in a quick volleyball game or enjoy water sports like windsurfing, flyboarding, or paddleboarding.
11. Shopping Experiences Galore
If shopping is your favorite sport, you’ll be very active in Miami. Endless purchases await in the city’s renowned malls and department stores. One of the best spots to find top designer brands is Lincoln Road, a pedestrian street in Miami Beach lined with boutiques and quaint restaurants and cafés. Additional places to indulge in some retail therapy are the top-notch brand name stores of the trendy Design District and the fabled Calle Ocho, with its picturesque Latin stores and colorful open-air markets.
12. A Remarkable Tolerance Of Other Cultures
Miami is one of the most multicultural and diverse places in the United States, so this comes as no surprise. The bustling coastal metropolis welcomes people from everywhere in the world with different creeds, languages, ethnicities, and sexual orientations, fostering a spirit of tolerance, openness, and acceptance. Miami truly encourages people from all walks of life to come together and celebrate their differences. If this is something you value, move here and experience it yourself.
13. It’s a Retiree Paradise
Miami is often touted as a quintessential retirement haven due to its moderate weather (great for easing arthritis pain), plentiful services and recreational options for the elderly, relatively-affordable housing and living costs, state-of-the-art healthcare facilities, and its Adult Active Communities (AAC). Florida is also an extremely tax-friendly state for retirees, offering no state taxes on pensions, IRAs, 401ks, Social Security benefits, and other retirement income.
