Moving to Miami, Florida
The international capital of the Southeast. $580K median, finance and tech booming, and international buyer activity surged 50% in 2025.
$580K
Median Home
6.2M
Metro Population
+50%
Intl Buyer Growth
$0
Income Tax
Living in Miami
Miami is unlike any other American city. It's the gateway to Latin America, a global finance hub, and the epicenter of Florida's luxury real estate market. High-skilled professionals relocating to Miami from NY, CA, and IL earn $101K+ on average. The city has emerged as a serious tech and crypto hub post-pandemic, with firms like Citadel, Blackstone, and dozens of hedge funds relocating. The condo market is in buyer territory (13+ months supply) — but single-family homes remain competitive. International buyer activity surged 50% in 2025 with a $442K median sale price. Brickell is the financial district, Wynwood is the art scene, Coral Gables is old money, and Homestead/Florida City offer the most affordable entry points. Insurance costs are the #1 factor — budget $5K-$12K+ annually.
Top Neighborhoods
| Neighborhood | Vibe | Price Range | Best For |
|---|---|---|---|
| Brickell | Financial district, high-rise condos | $400K-$1M+ | Finance pros, young professionals |
| Coral Gables | Established wealth, tree-lined streets | $700K-$2M+ | Families, luxury |
| Wynwood/Design District | Art, nightlife, trendy | $500K-$900K | Creatives, investors |
| Doral | Latin American community, family | $400K-$650K | Hispanic families, golf |
| Kendall | Suburban, affordable for Miami | $400K-$600K | Families seeking value |
| Homestead | Southern entry point, most affordable | $300K-$420K | Budget buyers, first-time |
Pros & Cons of Miami
✅ Pros
- ✓ International finance & tech hub
- ✓ Zero state income tax
- ✓ Gateway to Latin America
- ✓ Year-round tropical lifestyle
- ✓ Beaches, nightlife, culture
- ✓ No estate tax
- ✓ Condo market in buyer territory
- ✓ Multilingual community
⚠️ Cons
- ✗ Insurance 181%+ above national avg
- ✗ Hurricane risk
- ✗ Traffic is brutal
- ✗ High cost of living overall
- ✗ Flooding in coastal zones
- ✗ HOA fees rising (condo safety laws)
- ✗ Congestion and tourist crowds
- ✗ Limited affordable housing
Financing in Miami
- Condo financing requires project approval — not all buildings qualify for FHA/VA
- Foreign national loans available for international buyers
- Jumbo loans likely needed for SFH (above $766K conforming limit)
- Condo market leverage — negotiate price, seller concessions, rate buydowns
- Insurance is a dealbreaker for some — get quotes BEFORE making an offer
- Hablamos Español — critical in Miami market