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Miami, Florida is a vibrant and sun-soaked city known for its lively beaches, energetic nightlife, and diverse culture. Attracting over 40,000 people from South America and the Caribbean each year Miami is a bustling melting pot where 70% of the population is Hispanic and 57% are foreign-born. As the third most popular city in the eastern U.S. and the seventh largest in the nation Miami offers a rich blend of cultures, international trade, finance, and arts, according to Southwest Journal. Its warm weather and endless opportunities make it a top choice for those seeking adventure or a fresh start. This guide will help newcomers feel at home and discover all the wonders of Miami.
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(PHOTO: Landing)
Miami‘s Coastal Charm
With 454,279 inhabitants Miami is the third-largest metropolitan region on the East Coast and a magnificent coastal metropolis. With 2.76 million residents Miami-Dade County is a very varied place where 74.3% of people speak languages including Portuguese, Spanish, and Haitian Creole. Julia Tuttle founded Miami in 1566 making it the only major U.S. city founded by a woman. With 72.7% of its population of Hispanic and Latino ancestry Miami is commonly referred to as the “Capital of Latin America.” Leading the way in banking, business, the arts, and international trade it has the largest metropolitan economy in Florida with a GDP of $344.9 billion. Miami is well-known for its thriving nightlife, tourism and outdoor activities in addition to its business.
Living Large in Miami
Moving to Miami can be pricey especially with its vibrant nightlife and dining options though it’s more affordable than New York. Miami’s cost of living is 14% above the national average with housing costs 44% higher. Average expenses include $165.31 for energy, $3.51 for bread, $107.39 for a doctor’s visit, and $2.93 per gallon for gas. Rent averages $1,639 for a one-bedroom and $2,141 for a two-bedroom apartment. To live comfortably you’d need an annual income of $65,560 for a one-bedroom or $85,640 for a two-bedroom. In 2020 the median income was $44,268, below the U.S. average of $64,994. To stay above the poverty line a full-time worker should earn at least $16.78 per hour but a higher income is needed to fully enjoy Miami’s lifestyle.
The Migrant Magnet in Miami
Miami is seeing a large influx of residents from places like Boston, Chicago, and New York. It’s interesting to see that some Miamians are thinking of relocating to Orlando or New York. Miami tenants are starting to favor Atlanta as well. If you’re considering relocating read our advice on how to move from one state to another smoothly.
Tax Perks
Good news for Miami residents: you don’t have to pay personal income tax or sales income tax thanks to Florida’s tax policies. However, there is a 6% sales tax in Florida. While property taxes might be slightly higher than the U.S. average moving to Miami makes up for it!
Getting Around on a Budget
When moving to Miami, it doesn’t require a lot of money to explore. The Metrorail, Metromover, and Metrobus are just a few of the city’s public transportation options that are excellent for avoiding parking costs and taking in the beautiful city vistas. Shuttle bus costs are reasonably priced and environmentally sustainable with the average fare capping at $2.25 and starting at just $0.10. According to budgeting a household consisting of two working individuals and a child may spend approximately $9,378 on transportation each year whereas a single adult might spend about $5,113.
Beyond the Sandy Shores
While Miami’s beaches are iconic locals know the city offers much more. Instead of tourist spots residents prefer local art galleries the vibrant Calle Ocho, and indulging in some retail therapy.
Miami’s Fitness Fever
Moving to Miami means staying fit is a lifestyle. With its year-round summer vibe, buzzing nightlife, and trendy fashion scene Miamians are always ready for the beach even if they don’t go there every day.
Weathering the Storms
Miami’s tropical allure comes with its challenges like humid summers and the threat of hurricanes. The city is among the top five U.S. cities most susceptible to hurricanes with a 16% chance of experiencing one in any given year.
Cool Comforts of Central AC
Despite Miami‘s hot weather the interiors are often very cool thanks to central air conditioning. Whether dining out or watching a movie, it’s wise to bring an extra layer to stay comfortable indoors.
Navigating Miami’s Traffic Tango
Miami’s popularity draws many tourists leading to traffic jams. The average commute time in Miami is 56 minutes one of the longest in the U.S. Using public transport can help avoid traffic and give you some extra time for yourself.
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