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The city of Miami was founded in 1870, and it is the second-largest city in Florida. Miami is a popular holiday destination, famous for its great weather, trendy beaches and buzzing nightlife. It is also one of the largest hubs of international banks in the United States.
With a population of around 451,000, Miami is the second-largest city in Florida. It is smaller than Jacksonville, the state’s biggest city, but larger than Tampa.
Miami’s culture has been greatly influenced by the Hispanic population, making it an ethnically and culturally diverse city and rightfully earning it the nickname of ‘Capital of Latin America.’ The city’s name most likely comes from the Seminole word “Mayaimi,” which means Big Water.
Miami temperatures average at around 67.2ºF in January and 82.6ºF in July.
Florida’s no personal income tax laws make Miami a very appealing city. Miami is also a great place to live for those who love outdoor activities, providing 109 parks that can be enjoyed all year round, thanks to the great weather. The city’s beaches, entertainment scene and lush shopping districts will ensure that you’ll always have something to discover.
Miami is a growing city, and its constant development can make traffic problematic for those commuting to work. Overcrowding issues are also present in the city’s education system, with many schools being underfunded. Communication can also be difficult for those who only speak a foreign language, even though many locals are bilingual. Even though Miami is one of the wealthiest cities in the U.S., the living costs are still high, and many residents find them pressuring.
Miami has a cost of living above the U.S. average, yet some amenities are, in fact, cheaper.
Miami’s public transport is quite affordable, and many residents rely on it for commuting. Metrobus, Express bus and shuttle buses offer discounted fares, as does Metrorail. Taxi-hailing services like Uber are also available.
A three-course meal for two in a good restaurant costs $75 per person on average, while a bottle of red wine is typically around $15. If you want to grab breakfast in the city’s business district, the average price is $15, but you can find fast food luncheons available for $8.
The monthly utility bill for a 915 sq. ft. apartment is around $150, including electricity, heating, cooling, water and waste disposal. Internet services will typically add an average of $65 to your monthly bills.
The average rent for an apartment in Miami is $2,132 per month.
The average apartment size in Miami is 887 sq. ft.
Rent for a studio apartment in Miami ranges between $540 and $12,000 per month.
Rent for a 1-bedroom apartment in Miami ranges between $429 and $9,000 per month.
Rent for a 2-bedroom apartment in Miami ranges between $515 and $28,000 per month.
Rent for a 3-bedroom apartment in Miami ranges between $595 and $40,000 per month.
The employment sector has recovered and stabilized since 2008. According to the Bureau of Labor Statistics (BLS), in May 2016, Miami’s unemployment rate was 5.5%, below the national average of 5.6%. Several sectors have seen job expansion, with the financial services sector growing by 5%, the construction industry by 8.3%, manufacturing by 2.6% and government employment by 0.8%. Since March 2015, the professional and business services sector has increased by 2.9%. The average weekly wages in Miami are $924.
Some of the top employers in Miami are the University of Miami (12,818 employees), Baptist Health South Florida (11,353), American Airlines (11,031), Carnival Cruise Lines (3,500) and Fontainebleau Miami Beach (1,987).
There is no personal income tax in Miami, nor is there in the entire state of Florida. This makes moving into the city a very appealing choice for young professionals looking to start a business.
|Not for Profit Companies||11,197|
There are 392 schools in the city, governed by Miami-Dade County Public Schools (M-DCPS), the nation’s fifth-largest school district. It includes 345,000 students and over 40,000 employees.
While there are many good schools in Miami, the private school system is stronger than the public one, so research your school districts carefully before picking a place to rent.
Some of Miami’s top colleges are Florida International University, Miami-Dade College and the New World School of the Arts. The University of Miami is another contender, and in 2015 it was named most diverse university in the United States.
Miami is a culturally diverse city, boasting a one-of-a-kind cuisine, architectural landmarks, a great music and theater scene, as well as education and career opportunities. With 629 main attractions, there’s always something to do, whether you’re into yachting and sailing, golf, tennis or other outdoor activities, as well as cultural events. The Vizcaya Museum and Gardens, Amelia Earhart Park, Perez Art Center and Zoo Miami are just some highlights.
Clubs like Ball & Chain and Blue Martini Kendall are popular with both locals and tourists who wish to enjoy Miami’s vibrant nightlife. There are plenty of choices for restaurant lovers as well, with Ceviche, Versailles, Crazy About You and others serving exquisite food.
Miami is home to several professional and university sports teams. The NFL Miami Dolphins and Miami Marlins both play at Dolphin Stadium in Miami Gardens. The American Airlines Arena in downtown Miami hosts the local NBA Miami Heat games, while Bank Atlantic Center in Sunrise is home to the NHL’s Florida Panthers. The city’s professional soccer team, Miami F.C., plays at Tropical Park Stadium.
Miami’s dynamic cultural scene comes with a great variety of annual events. Highlights include the Cadillac Golf Championship, the Miami Marathon, Miami Fashion Week, International Boat Fair, as well as one of the largest international book fairs in the country. Events such as the outstanding Martin Luther King Day Parade also celebrate the city’s cultural heritage.
Miami has 19 parks, offering great spots for walking and biking trails, as well as sports playgrounds. Most of them are pet-friendly. The most impressive is Matheson Hammock Park, founded on land donated by the prominent Matheson family, yet the 175 acres of the spectacular Biscayne Bay National Park follow close by. Miami also has some outstanding seaside parks, such as South Pointe Park in South Beach and North Shore Open Space Park.
Miami is home to some of the best shopping in Florida. Lincoln Road is renowned for its boutique stores, and Sawgrass Mills is the largest factory outlet center in the city. Dolphin Mall has over 200 restaurants and shops while also being conveniently located close to Miami International Airport. Another excellent shopping spot is CocoWalk, an outdoor venue that combines shopping with dining and entertainment.
Before you agree to a lease in Miami, there are several considerations to bear in mind. The first one is that leases can be both written as well as verbal agreements. If you do sign a lease, make sure that the landlord doesn’t have an ‘automatic renewal’ clause, as this is common practice. Another clause to look into is compliance with the new rules. Sometimes, leases may include a ‘rent may increase’ clause, which can see a spike in months when there is high demand.
Florida and Miami have had strict eviction processes since 2008, following the collapse of the housing market and the recession. If your rent is three days late, landlords can begin eviction proceedings.
Landlords typically collect a one-month security deposit and the first month’s rent when the lease is agreed upon. As a tenant, you have the right to receive your security deposit back 15 days after lease termination.
You will need to obtain a Florida Driver’s License as well as register your car after moving to Miami. This can be easily sorted with the Florida Highway Safety and Motor Vehicles department.