Miami is a magnificent place that draws many people from all corners of the world for a visit of its nightlife, pristine water, and sandy beaches.
But, Miami is not only about partying, as it offers quite a few opportunities for those who are interested in doing business as well.
With that in mind, this city caters to all lifestyles, so regardless of your reason, here are a handful of things you need to know before making a move to Miami.
Moving to Miami – What to Expect
1. Energetic Nightlife
Miami offers one of the most dynamic and lively nightlife one can imagine and expect. Delicious cocktails, pool parties, salsa dancing in the famous Little Havana, or clubbing in the city’s finest clubs – this city provides choices to every possible person’s needs and fantasies.
Moreover, if you’re into quiet evenings and fine dining instead of partying, you can look up one of the many chef-driven lounge bars and restaurants that have settled in the heart of the city.
2. Always Active
In Miami, there is always something to do, always something to enjoy. Whether that is staying up late and enjoying the lights, visiting an art flair, watching a movie, or taking a late night stroll through the many parks or beaches, Miami is just like New York – a city that never sleeps.
3. Diversity
It’s 2024, and Miami keeps on delivering on its promises, including diversity and expression. Its residents embrace the LGBTQ+ community with open arms, while around 72% of Miami’s population is Latin American.
Non-traditional families feel great comfort while roaming the city, and traditional ones too won’t bat an eye for your lifestyle choices. Everyone is welcome here, and there’s plenty of space for everybody to express themselves as they feel.
4. Large Industries
If you’re looking for a job or a business opportunity, rest assured Miami is the home of quite a handful of large industries.
You can venture into tourism, media, logistics, finance, or pharmaceuticals, as there are plenty of job openings and potential business dealings up for grabs.
To add to this, Miami is also the home to maybe the largest concentration of international banks, mainly thanks to the diverse population residing in it.
5. Low Household Income
There are many upsides in moving to Miami, just as there are a few downsides. One of them being the lower wages you can earn while living here. That’s not to say that you won’t earn your worth, and if you are a high-skilled worker, you can definitely negotiate for higher fees.
For more context, according to the US census data, Miami’s median household income stands at $44,268, which is less than the national median of $64,994.
6. High Average Home Prices
Real estate prices in Miami, on the other hand, are higher than the national averages. The appeal of the city attracts many investors, high profile individuals, and otherwise wealthy people. This is the primary reason why Miami’s real estate prices are getting higher and higher with each new residential building being built.
If you’re looking to spend less, there are many neighborhoods with lower prices, albeit a bit further away from the city center.
Moreover, there are quite a few fascinating neighborhoods just outside of Miami too, such as Hialeah or Miami Gardens that you can also consider. Spending less on purchasing your new home can pave the way for renovations to suit your needs and make your home as comfy as possible.
7. Above Average Cost of Living
If you’ve decided that Miami will be your next destination, you need to be aware of the daily costs. This will also help you gauge how much of a rate you’ll be willing to accept should you accept relocation or if you’re starting a new job.
That said, Miami’s cost of living is slightly above the national average. Groceries and housing contribute the most to the increase in cost of living in Miami, but you should know that other goods, services, and utilities are higher, too.
8. Plenty of Interesting Neighborhoods
In addition to the diverse population, vibrant lifestyles, and plenty of opportunities around, Miami offers very interesting neighborhoods as well.
For families, the best choices are Coral Gables, South Miami, and Coconut Grove, while those looking to be active close to the city center might want to consider living in Brickell, Downtown Miami, or Little Havana.
9. No State Income Tax
Ahh, taxes, our lifelong enemy! But, as with any adversary, there’s always a solution – move to Miami!
The state of Florida employs some of the lowest taxes in the US, with residents having no obligation to pay state income tax. With one of the richest property taxes in the US, Florida doesn’t even have an inheritance tax or estate income tax, making Miami an even more attractive destination.
10. Very Hot
Last but not least, the weather channel. Miami is a very hot and humid city with temperatures topping 87 F and humidity ranging around 70%.
If you’re pale or otherwise fond of wintry landscapes, then Miami might not be a good place for you. But for those who are hot for the beaches, water, and surfing, Miami is the perfect place to be.
Ready to Make a Move to Miami?
Miami is quite a lively city with a lot of fun things to do as it is always active, offers plenty of entertainment options, and is incredibly diverse. Adding many flourishing industries and countless business opportunities to the mix just further boosts the appeal of this city with a range of job openings, especially in the tourism and finance niches.
Even though home prices may be higher and average job wages lower, there are plenty of part-time alternatives to boost your income. On a brighter note, there’s no inheritance and state income tax, making cost-cutting effective.
The countless beaches, clear waters, and fantastic hot weather make Miami the perfect place to move to in 2024.