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9 Reasons Why People Are Moving to Miami

By Manuel Yllesca
9 Reasons Why People Are Moving to Miami image

What is so special about Miami that draws people to relocate? If you’re considering this idea, it’s common to explore the lifestyle that awaits those who move to Southern Florida’s well-known coastal metropolis.

Remember, if at any time you’re interested in remotely renting an apartment or purchasing real estate in Miami, our Properties Miami is ready to help you.

Before you pack your beach bags and sunscreen to check out the area, here is a list of reasons why people are moving to Miami:

1. Work Opportunities

Miami is renowned for its numerous job opportunities. The top three industries in Miami are:

  1. Aviation.
  2. Banking and Finance.
  3. Tourism and Hospitality.

In addition to these industries, there are also opportunities in technology, healthcare, and trading, among others.

Therefore, if having a secure job is a major factor in your decision to moving to Miami, you can be confident that there are plenty of employment opportunities in the city.

Here are some key cities in Miami that can provide you with a clearer understanding of the professional landscape in Miami:

Overall, Miami is a rapidly growing city, making it an ideal place to find career opportunities. Its diversity offers something for everyone, regardless of the field or industry you’re in.

According to a recent 2023 annual report, the average annual salary in Miami, Florida, is $56,000 (equivalent to $4,666 per month). Here is a summary:

2. Climate and Beaches

Climate in miami.

Miami is famous for its sunny beaches, beautiful coastline, and warm weather throughout the year. Beach enthusiasts and fans of water sports and activities consider Miami a true paradise, with over 200 days of sunshine per year.

Here is an overview of the climate in Miami:

If you plan to move to Miami soon, you know what to pack – light clothing, a sun hat, and plenty of sunscreen.

When it comes to beaches, Miami has more than a dozen, each with its own unique atmosphere. The top 5 best beaches in Miami as of March 2023 are:

If you want to avoid crowded beaches, you can try going to Matheson Hammock Beach Park, North Beach, Dania Beach, and Bill Baggs Cape Florida State Park.

3. Tax Benefits

There are no personal income taxes or state income taxes in Florida, which makes the cost of living in cities like Miami much cheaper compared to other states.

Residents who earn a fixed income only have to pay federal taxes, allowing them to save thousands of dollars compared to living in more expensive states like New York and California.

Here are some key points about the tax benefits in Miami:

According to a tax comparison conducted by the Wall Street Journal between New York and Florida:

When it comes to large businesses such as major corporations, one of the reasons they move to Miami is for tax purposes.

Florida has a lower corporate income tax (5.5%) compared to other states like California (8.84%) and New York (7.25%). This is one of the leading reasons why various multinational companies establish offices or move their headquarters to Miami. Some notable examples include:

In its broadest sense, low corporate income tax, no personal income tax, and no estate and inheritance/gift taxes are major financial aspects why people and businesses relocate to Miami.

4. Exceptional Education Opportunities

Miami offers educational opportunities across the board with numerous pre-schools, elementary and high school institutions, colleges, and universities. Families with children can explore a plethora of choices regardless of age, ethnicity, religion, and field of study.

Aside from having numerous public schools in every community, Miami is also known for having the best private schools. Some of the most well-known private school institutions in Miami are;

Miami also boasts some of the best universities in the country that offer a variety of courses and fields of study, as well as vocational and short-term courses, college degrees, and graduate and undergraduate studies.

5. Outdoor Activities

Woman walking her dogs in Miami's park.

Miami has unique ecosystems that allow its residents and visitors to enjoy a lot of outdoor activities – in and out of the water. The best adventures to try out are; sailing in Coconut Grove, diving on coral reefs and shipwrecks in Biscayne Bay, paddle-boarding along Virginia Key, or going on a boat cruise for a private island tour.

Aside from its sandy beaches where water sports enthusiasts can surf, swim, snorkel, and kayak, there is a whole lot more on the table. Here are the best national parks in Miami that offer the best of outdoor activities;

1. Everglades National Park.

Everglades National Park covers 1.5 million acres of nature to the west and south of Miami. It is a paradise for adventure-seekers, offering hiking, biking, camping, and canoeing opportunities. Known as the “River of Grass,” it is a park where visitors can see bald eagles, white-tailed deer, and alligators. Some lucky individuals may even catch a glimpse of endangered species like the Florida panther.

2. Biscayne National Park.

Biscayne National Park is a haven for water sports and activities enthusiasts. What makes it unique is that 95% of the park is underwater, so visitors must arrive by boat. People come here to soak up the sun, swim, snorkel, dive, or simply enjoy a boat ride.

3. Oleta River State Park.

Oleta River State Park is located near Sunny Isles Beach, making it a popular destination for outdoor enthusiasts. It is a tropical haven where visitors can explore hidden mangrove tunnels by kayak, spend a peaceful retreat in a nature cabin, or go biking along its 15-mile trails.

6. Investment Opportunities

Miami is a favorable location for real estate investors, and its housing market is considered one of the best in the United States. Here is a general overview:

From a macro perspective, the Miami housing market has seen steady growth over the past 11 years. For instance, the average price of single-family homes has increased for 133 consecutive months, rising from a median price of $525,000 to $539,900 (Year-over-Year growth) in December 2022.

In the Miami-Fort Lauderdale-West Palm Beach Metro area specifically, property values rose by 13.5% over the past year.

According to Zillow’s predictions, they will continue to increase by 2% in the next 12 months. With such positive data, real estate investors see the great potential and long-term benefits of investing in Miami.

7. Multicultural City

Miami is a multicultural and diverse city where you can encounter people from various regions of the world, including Latin America, South America, Asia, the Caribbean, and more. People come to Miami to share their cultures, customs, and traditions, creating unique and fascinating communities.

Dubbed the “Magic City,” Miami has a minority-majority population. According to the 2022 census, Miami’s racial demographics are as follows:

Non-Hispanic whites make up less than half of Miami’s population, representing only 11.5%, a decrease from 41.7% in 1970. In contrast, regardless of race, Latinos or Hispanics make up 72.5% of Miami’s population.

It is important to note that Miami celebrates its Hispanic heritage, Caribbean heritage, Jewish-American heritage, Haitian heritage, and more, making it a true melting pot of cultures.

8. Worldwide Known Events

People who enjoy festivals and gatherings will find plenty of exciting events to fill their calendars in Miami. From festivals to tech exhibits to business conventions, there is always something happening in the city throughout the year.

Here are some of the most notable events in Miami:

Miami International Boat Show (In February)

This event showcases over 3,000 boats, including yachts, sailboats, race boats, and various vessels. Thousands of exhibitors and participants take part in this event at multiple locations.

Miami Broward Carnival (In October)

The Miami Broward Carnival is a vibrant event that features a range of costumes, concerts, art exhibits, and cooking contests. Fans of Caribbean food, entertainment, and culture flock to this festival for a full day of fun and games.

Miami Beach Gay Parade (In April)

The LGBTQ community comes together for this fun parade and colorful festival that brings together over 100,000 people. The event typically runs for a week, starting with a lively street parade and ending with a night party. The highlights include fancy soirees, Pride Night, and a beach party with live entertainment from drag performers and DJs.

Art Basel Miami (In December)

Art Basel Miami is a contemporary art event that showcases artworks from around the world. During the event, high-quality sculptures, paintings, films, and exhibitions are featured in Miami and the Wynwood Art District, providing a perfect opportunity for Miami’s emerging artists to showcase their talent.

Bitcoin Conference 2023 (In May)

The Bitcoin Conference brings together Bitcoiners from around the world for a series of conventions, seminars, exhibits, and bazaars. The Bitcoin 2022 conference, held in Miami in April 2022, was the largest Bitcoin event in history and explored the technological innovation and financial empowerment surrounding this open-source technology.

Beach Parties All Year Round

Beach party enthusiasts can always look forward to various beach events, such as the Miami Beach Pop Festival (November), Cinco de Mayo Wharf Party (May), Miami Carnaval (between February and April), beach rave parties, and open club parties throughout the year.

9. Affordable Living

Another significant factor that draws people to Miami is its comparatively lower cost of living compared to cities like New York, Washington D.C., and San Francisco.

Although the cost of living in Miami is 22% higher than the national average, it is still significantly more affordable for individuals who have previously lived in other large cities.

Here is some helpful data compiled in 2023.

Here are some points to consider regarding housing and transportation expenses in Miami and San Francisco:

Considering the data mentioned, it’s no wonder why many people choose to move to Miami. In addition to having many budget-friendly neighborhoods, there are also tax benefits that contribute to an affordable cost of living. The following are some of the most affordable neighborhoods in Miami:

These areas are suitable for those who are just starting out or have recently moved to the city.

For a smooth and stress-free relocation to Miami, it’s best to allow at least 2 to 3 months before moving. This allows enough time for preparation and to complete your checklist. Verified Movers has a checklist to follow before deciding to move to Miami.

In Conclusion

Living in a big city comes with huge financial demand. However, it helps to know that cities like Miami offer good quality of life at an affordable cost of living.

Aside from being a good place to start a family, build a business, and retire, it also promises great opportunities to satisfy one’s passion and interest. All these and more are what inspire a lot of people to relocate to Magic City.

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