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More than a Vacation Destination

AKA: Magic City, The Gateway to the Americas

Population: 6,012,331 • Average days on market: 22 • Average gross yield: 8.8%

# of Building Permits in 2015: 23,450 • Employment Growth to Building Permits Ratio in 2015: 0.9%

 

Drivers: Miami serves as the headquarters to 5 companies in the Fortune 500 and is recognized as the 8th largest MSA in the country. With beautiful weather, scenic beaches and iconic restaurants and nightlife, Miami provides residents and visitors alike with a stellar quality of life.

 

Leading industries: Known for its tourism tourism industry, Miami is also a key player in the international trade economy with the Caribbean and Latin America. Additionally, Metro Miami ranks in the top 10 largest economies for the construction, education, leisure and hospitality, healthcare, financial services, trade, and transportation industries employ over a quarter of the population.

 

Notable mentions: Home to the Rusty Pelican, locals and tourists can enjoy some of the best seafood around at one of the city’s most historic waterfront restaurants. They can also take a cruise along Ocean Drive and relax on sandy South Beach.

  • Job Growth
    54,415 new jobs created in 2015
     
  • Population Growth
    75,231 new residents added in 2015
     
  • Vacancy
    5.3%, down from 5.6% in 2015
     

Market Data

All data provide by Census, Bureau of Labor Statistics, RentRange®, Fortune, and Wikipedia. Market Data based on 3bd SFR

Local Resources in Metro Miami Area

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