Miami Statistics and Quality of Life
Population Growth
As of July 1st, 2018 Miami has a population of 467,963 residents. Miami’s population accounts for 17% of the population of Miami-Dade County. It is the second most populated city in the state of Florida, after Jacksonville. From 2018 to 2020, Miami has seen an average population growth of .78%.
Economy
The Miami economy has a minimally higher than average unemployment rate than the rest of the U.S, at 4.0%. While the unemployment rate is not a bragging right, the projected future job growth is. As of July 2020, Miami projects at 42.7% job growth over the next ten years where the average throughout the United States falls to 33.5%.
Miami Cost of Living
The cost of living in Miami is definitely above average, it is not a cheap place to live. The average cost of a 1-bedroom apartment in the city center averages around $1,800.00 a month. This is higher than Miamis’ northern neighbor city West Palm Beach’s, which comes in at an average of $1,642.00.
With housing being the item that has the largest impact on cost of living, other things like groceries are also significantly higher than the average of the rest of the country. Healthcare seems to be more affordable than the rest of the county which is a big incentive for a person who is looking to move if they have medical issues.
Crime Rate
Based on a scale from 1 to 100, 1 being safe and 100 being not safe, BestPlaces.net states that Miami’s crime rate is much higher than the average city in the state of Florida. BestPlaces.net puts Miami’s property crime which is classified as “taking of money or property, but no force or threat of force against the victims” at 62.7. You can compare that number to the state average of 48.8. Violent crime in Miami is an interesting statistic. It is rated at 48.8, whereas the state of Florida average is 23.4. That is more than double the amount of violent crime.
Education
Miami definitely has positive educational statistics. You could say that the classrooms are larger than average. The average student to teacher ratio is 19.2. For comparison West Palm Beach comes in at about 14.5 students per teacher and Fort Lauderdale averages about 17.3. While the class size is not great news, Miami-Dade county has 52 schools rating above a 10/10 out of 516, which allows you to have a solid chance of giving your children a great education.
Conclusion
Miami is an incredible city right off the water with a world famous nightlife, beaches and culture. There’s an international airport 15 minutes from downtown Miami and a rapidly developing high-speed luxury train, Brightline, that already has stops in Ft. Lauderdale and West Palm Beach. Miami Beach and the areas around it have endless activities. There are always concerts, shows, parades, and other various events scheduled throughout the year. If you are looking to sell a home in Miami, give FL Home Buyers a call today. We can make you a no commitment, straight cash, no closing cost offer! We buy houses cash and we close fast!