Miami: Florida Real Estate and Property Investment

Miami may be synonymous with celebrities living in multi-million dollar mansions, some of the world’s best nightlife, and beaches, but it’s a lot more. There’s a massive cultural scene, there are great schools, and much more. For these many reasonss Miami is considered a future star of the American real estate market. Take a look below, what living in Miami’s super luxury can mean for you. Whether you want to buy a house or buy an apartment, Miami can give what you’re looking for.

Miami Mega-Mansion House Tour – $17.9 Million Beach Mansion

This ultra-modern luxury mansion is on the market for a whopping $17.9 million. For good reason though, as it has everything you’d want. Located on the man-made Venetian Islands, this place is everything your wildest dreams could imagine.

Located on the Venetian Islands, this is a home you want to have seen at least once in your life. A massive 7 bedrooms, and 7,5 bathrooms also mean that you can have as many guests over as you’d like, and you won’t run out of room.

• Location: 825 E Dilido Dr, Miami Beach, FL
• Price: $17.9 mil.
• Bedrooms: 7
• Bathrooms: 7,5
• Square feet: 8.048

What are Miami’s Industries? Miami Economy Explained

Miami is a somewhat wealthy economy. It has massive sectors of retail trade, service industry (hotels, restaurants, etc.), and construction. Miami’s current unemployment rate lies at 3,2%, which is below the US average, and much lower than e.g. Los Angeles, with 5,1%. You also cannot forget the massive tourism industry which takes charge in this city. The massive airport, prime vacation activities with everything from yacht, golf, and country clubs, diving, some of the world’s best restaurants, and so much more.

• Retail
• Service
• Construction
• Manufacturing

Where does Miami Rank in Cost of Living – Is Miami Expensive to Live?

In the cost of living index published by Numbeo, Miami is ranked 24th (77,49), New York and San Francisco are miles ahead, taking spots 2 and 4 respectively, while America’s other party city Las Vegas is comfortably in 79th place. The average restaurant trip here will cost $15,00 and a loaf of bread $2,99. In addition to rent, which is on average $1.325-$1.1.884 (1 Bedroom apartment) or $2.527-$3.688 (3 Bedroom apartment), basic utilities for a month cost $146 and the average internet plan $68. This is all to be taken in relation to the average salary, which is $3.362 a month after tax. To see how LV stacks up against other big metropolises, take a look below:

• Hamilton, BE (147,00) – 1
• New York City, NY (100,00) – 2
• San Francisco, CA (94,17) – 4
• Los Angeles, CA (81,31) – 15
• Miami, FL (77,98) – 25
• Las Vegas, NV (68,24) – 79

Rent Index – How Expensive is Rent in Miami?

Rent in Miami is quite high, ranking 16th highest for North American cities with a rent index of 62,01. The rent index tells you the relative price of rent. With many workers in this city passing through or only staying for a few years, rent can be an important thing to take a look at. Miami has very high rent, and a comparatively low average salary. Take a look at the ranking below, with rent index and position for North American cities:

• San Francisco, CA (116,48) – 1
• New York City, NY (100,00) – 2
• Los Angeles, CA (75,17) – 10
• Miami, FL (62,01) – 16
• Las Vegas, NV (38,99) – 64

Miami – Beach Drone Flight in Florida

One of the most famous ocean cities in the world. This is a beauty to look at. Some of the most modern architecture, and the decadent style which the U.S. is so famous for worldwide. Pure elegance.

Real Estate Investment: Luxury Properties in Miami

Miami is one of the hottest cities in the USA, and therefore, no surprise, it is also one of the hottest real estate markets in the country. Filled with super high-end condos, luxury villas, and more, this is an enticing market for the wealthy.

Rent Prices Miami – Should I Rent or Buy in Las Vegas?

It’s always important to look at the prices when thinking about whether to buy or rent. You should also think about two other things though. Your preferences, and the permanence that you want from your living situation. If you have a preference to let other people take care of major things, like cleaning public areas, etc. renting may be a good option. Additionally, with a job where you are likely to relocate frequently or have an uncertain job situation, renting is the clear best option. The average rent is $1.708, with an average apartment being 887 square feet. This comes out to

• Average Rent: $1.708
• Average Apartment Size: 887 sq. feet

What type of Real Estate Should I invest in?

Types of Real Estate Investment

Is Miami a Good Real Estate Investment? Property Investment Miami Overview

Miami is a growing market at the moment. At least in terms of prices: in the greater Miami area, median sales price increased by 5.5%! At the moment, there is little movement though, with a demand being met by an equal supply. Ideally, for investment a buyer would hope for more supply which would drive down prices, but a balanced market is also a good sign because that means sales are being met at about asking price. In fact, in Miami, at the moment, most sales are occuring at 3% below asking price, meaning many buyers are getting a good deal. Some numbers:

• Median Sale Price (Miami-Dade): $410.000
• Median Sale Price (Broward): $400.000
• Median Time to Sale (Miami-Dade): 92 Days
• Median Time to Sale (Broward): 73 Days

How Expensive is Real Estate in Miami?

On average, a property in Miami costs $678.000. This is higher than the median sales price, which indicates that there are some extremely expensive homes being sold which are driving this average up.

• Average Price: $678.000

Most Expensive Neighbourhoods in Miami – What is the Richest Neighborhood in Miami?

The most expensive real estate in Miami is found in Miami Beach. This small island makes up a large part of the luxury real estate market. Also popular are the Venetian Islands, manmade islands with some of the east coast’s most exclusive properties. Another area to keep in mind: Fisher Island, another of the famous islands lining Miami’s coral-blue waters. The most expensive neighborhood in Miami is Indian Creek Island. You basically can’t get more high class than this, and may not find it on other lists as these properties won’t be sold over zillow. These are the richest neighborhoods in Miami:

1. Indian Creek Island: $15.000.000 – $47.000.000
2. North Bay Road: $7.500.000 – $45.000.000
3. Star Island: $7.100.000 – $28.000.000
4. Hibiscus Island: $1.200.000 – $14.200.000
5. Venetian Islands: $1.000.000 – $25.700.000

Miami Taxes – Property Taxes, Income Tax

If you live in Miami you’ll likely need to pay taxes here. As it is not one of the USA’s top tax havens, this may also be more expensive than you’d like. Let us take a closer look at tax rates in USA’s most unique state in Florida, and its star Miami. Thinking of buying? Don’t forget the buying real estate taxes.

Miami Tax Rates – Are Taxes High in Miami?

Miami, as it is in Florida, is one of the metropolises, along with Las Vegas, to not have an income tax. This makes it attractive to high earners, who will have to give away less of their income to the state

• Income Tax: 0%
• Sales Tax: 7,0%

Miami Property Tax Rates – Florida Rankings

Miami may not have income tax, but like so often, this is compensated via other forms of tax. This may explain an effective property tax rate which is higher than most other US property tax rates. Compare it to Los Angeles at 0,75% or New York property taxes at 0,86%. Take a look below to see what you need to know about miami property tax rates:

• Avg. US Property Tax – 1,1%
• Avg. Florida Property Tax – 0,94%
• Miami Property Tax – 1,04%
• Miami-Dade County – 0,97%

Want to learn more about property taxes, how they work, and how high they are in Florida, how high they are in Miami?

Florida Property Taxes

Safest Neighborhoods in Miami – Lowest Crime Rates

What are the safest areas in Miami? We’ve taken a look at the crime rates, and found that a few neighborhoods stand out among the rest. The safest area is certainly Brickell Hammock. Take a look at the full ranking below!

1. Brickell Hammock
2. Highland Lakes / Sun Swept Isles
3. SW 136th St / SW 99th Ave
4. SW 127th Ave / SW 56th St
5. SW 54th Ave / SW 80th St
6. SW 102nd Ave / SW 128th St
7. Kendale Blvd / SW 88th St
8. Krome Ave
9. Krome Ave / SW 12Th St
10. SW 42nd St / SW 162nd Ave

Top Miami Neighborhoods – What is the Best Neighborhood to Live in Las Vegas?

We present the most important, hottest, and up-and-coming neighborhoods to keep in mind. They are a mix of hot, up-and-coming artists’ districts, as well as safe bets, luxury neighborhoods, and anywhere else where real estate investment is a good option at the moment. Our top Miami neighborhoods for real estate are:

1. Downtown Miami
2. Coral Gables
3. Little Haiti
4. Bayshore
5. Pinecrest
6. Coconut Grove

Downtown Miami – Tropical Manhattan

Hom to some of the most important finance institutions in the city, this area is also home to Bayfront Park, the InterContinental Hotel, and Bayside Market, so there’s plenty to see. There’s also some of Miami’s famous resstaurants here. Regarding real estate it’s a mixed bag, which makes this all the more attractive. Properties differ heavily in price-to-quality ratios, so you may have to be careful, but there’s tons of diamonds in the rough. There are a lot of alluring properties available. However, you should definitely do some research before committing to purchasing a rental unit in the south.

Coral Gables – The Undeniable Suburbia

Possibly the most prototypical Miami neighborhood, Coral Gables is known worldwide. It is extremely safe, beuatiful, and has beutiful real estate. Of course you can’t say it’s a hidden gem, but it is one of the safest investment options. Miami is growing, and its undeniable perfect neighborhood will become only more desirable with shrinking spaces.

• Median Price: $420.000

Little Haiti – Hip and Trendy Miami

This used to be one of the worst areas in Miami. Over time it has earned a reputation for its vibrant diverse cultural scene, with great food, a completely unique atmosphere, and away from the clean and sterile neighborhoods found on manmade islands across the water. Like Little Havana, you can expect this area to become a future superstar in the city. Median property here costs $373.000, so get it while it’s cheap!

• Median Price: $373.000

Bayshore – Miami’s Best Rental Investment

Some places you want to live, and in some places you want to rent out. Bayshore is where you want to rent out. Buying property here is comparably cheap to the rent that you can get from tenants. At the same time, prices for rent are increasing, while prices to buy are staying steady. Located on Miami Beach, you’re at a great position to get everywhere, and if Miami continues to grow as it has, prices will likely increase in the longterm as well.

Pinecrest – Area for Young Professionals

Pinecrest is a great compromise between the sprawling millionaire homes in Coral Gables or the Venetian Islands, and the rough and trendy of Little Havana or Little Haiti. It has great schools, is safe, and diverse, but it also has good nightlife and has many hip cafes and young professionals. If you’re 32 with a small family and a startup, this is the place to go in Miami, without a doubt.

• Pop.: 19.200

Coconut Grove – Raising a Family in Miami

Coconut Grove is exactly the suburban, family-friendly utopia that the name implies. It is beautiful, with eclectic and attractive architecture, as well as small streets and no highways passing through. The price reflects the quality though. With a median price of $930.000, not everyone will be able to afford it, but to live here is certainly the right decision if you want a quiet suburban home to raise a family.

Las Vegas: Real Estate Investment in Nevada

The desert city, may be famous for casinos and parties, but it offers much more. Thanks to years of strong economic growth, it has established itself as a true metropolis. With good schools, and real suburban life for families. Still, the city is dominated by its skyline and lively atmosphere.

What are Las Vegas’ Industries? Las Vegas Economy Explained

Although beginning with an agricultural industry, and many parts of the city actually relying on agricultural well into the 1980’s, Las Vegas is undoubtedly the casino capital of the world. Although proclaiming that its sectors are diversified, you will find that most cash in Las Vegas is in the service industry: hotels, restaurants, casinos, bars, etc. Meanwhile it does have a strong economy for tourism though, and also hosts conventions and trade shows. It is one of the cities with the fastest growing populations and employment opportunities.

• Service
• Finance
• Conventions
• Tourism

Where does Las Vegas Rank in Cost of Living – Is Vegas Expensive to Live?

In the cost of living index published by Numbeo, Las Vegas is ranked 79th (68.24), New York and San Francisco are miles ahead, taking spots 2 and 4 respectively. The average restaurant trip here will cost $15,00 and a loaf of bread $2,65. In addition to rent, which is on average $922-$1.200 (1 Bedroom apartment) or $1.600-$2.000 (3 Bedroom apartment), basic utilities for a month cost $166 and the average internet plan $77. This is all to be taken in relation to the average salary, which is $3.475 a month after tax. To see how LV stacks up against other big metropolises, take a look below:

• Hamilton, BE (147,00) – 1
• New York City, NY (100,00) – 2
• San Francisco, CA (94,17) – 4
• Los Angeles, CA (81,31) – 15
• Miami, FL (77,98) – 25
• Las Vegas, NV (68,24) – 79

Rent Index – How Expensive is Rent in Las Vegas?

The rent index tells you the relative price of rent. With many workers in this city passing through or only staying for a few years, rent can be an important thing to take a look at. Las Vegas has comparatively high rent, no surprise considering. Take a look at the ranking below, with rent index and position for North American cities:

• San Francisco, CA (116,48) – 1
• New York City, NY (100,00) – 2
• Los Angeles, CA (75,17) – 10
• Miami, FL (62,01) – 16
• Las Vegas, NV (38,99) – 64

Las Vegas – Strip Drone Flight

You’ve probably seen Las Vegas’ unbelievable skyline from countless movies like Ocean’s 11 or the Hangover. Here you can get a detailed look at all the beauty which this city offers.

Real Estate Investment: Luxury Las Vegas Venture

For many people it will come as a surprise that Las Vegas has a massive real estate market, with diverse options from the ultra-luxury condos in skyscrapers, but also suburban districts with great school systems and expansive parks.

Rent and Puchase Prices Las Vegas – Should I Rent or Buy in Las Vegas?

Las Vegas has always been a strong market to rent. This is unlikely to change, therefore, when moving to the city, it’s usually the best decision to rent an apartment. Nonetheless, mortgage rates, as in so many places are are extremely low, meaning despite limited supply driving prices up, the investment is not as large as one may think at first.

• Average Rent: $1.107
• Average Price: $2.419/m²

Where is Real Estate Most Expensive in Las Vegas?

If you are looking to invest and purchase capital, Meadows Village has purchase prices which are offset by very high rental income. Low prices can also be found in Pioneer Park, which gleams with a very livable atmosphere and low purchase prices. The median prices in different parts of Las Vegas below:

• North Las Vegas: $300.000 (increasing)
• West Las Vegas: $219.900 (increasing)
• East Las Vegas: $225.000 (increasing)

Las Vegas Real Estate Market Explained – Is Las Vegas a Seller’s Market?

Las Vegas is a seller’s market, meaning at the moment, those already owning property are at an advantage. Low unemployment, and good forecast for the city’s economic growth, mean that many people are looking to make long-term investments in the form of real estate. Throughout all of Las Vegas, the median price for a residential is $320.000. Median prices differ from other cities for the different types of real estate. Median listing prices:

• Single-family residence: $349.000
• Condos: $180.000
• Townhomes: $236.000

Most Expensive Neighbourhoods in Las Vegas – What is the Richest Part of Las Vegas?

The most expensive real estate in Las Vegas is found in Summerlin and Henderson. Although not strictly within city limits, it still counts as Las Vegas. The most expensive area in Las Vegas is the Ridges, a small community in Summerlin. Here you can expect to pay between $2 mil. and $7 mil. for a house. It is also the area in Las Vegas with most house sales >$1 mil, with the most expensive on the market at the time of writing being $30,4 mil. The full list of most expensive communities in Las Vegas below:

1. The Ridges: $2.000.000 – $7.000.000
2. Anthem Country Club: $1.200.000 – $4.400.000
3. Macdonald Highlands: $1.000.000 – $4.200.000
4. Southern Highlands Country Club: $1.000.000 – $3.000.000
5. Seven Hills: $1.000.000 – $2.700.000

Las Vegas Taxes – Property Taxes, Income Tax

If you live in Las Vegas you’ll likely need to pay taxes here. As it is not one of the USA’s top tax havens, this may also be more expensive than you’d like. Let us take a closer look at what Nevada and Las Vegas will make you pay.

Las Vegas Tax Rates – Do you pay Income Tax in Las Vegas?

The state of Nevada has no income tax, so no you don’t pay any income tax in Las Vegas! Also, Las Vegas has no corporate tax, no inventory tax, and no franchise tax! Although there are taxe son sales, with a sales tax being 6,85%. for large businesses, the city of San Francisco has an additional tax for expenses of large businesses. This is a 1,5% gross receipts tax on payroll expenses. Additionally, in San Francisco there is a total sales tax of a massive 8,5%.

• Income Tax: 0%
• Sales Tax: 6,85%

Las Vegas Property Tax Rates – Nevada Rankings

In addition to not having income tax, Nevada also has comfortably low property tax rates. In Nevada, the average rate of property tax is 0,66%. Each county has their own regulations and expenses, therefore it is important to also look at the amount you will pay in Clark County: 0,65%. This is quite low compared to Los Angeles at 0,75% or New York property taxes at 0,86%.

• Avg. US Property Tax – 1,1%
• Avg. Nevada Property Tax – 0,77%
• Las Vegas Property Tax – 0,66%
• Clark County – 0,65%

Safest Neighborhoods in Las Vegas – Lowest Crime Rates

What are the safest areas in Las Vegas? We’ve taken a look at the crime rates, and found that a few neighborhoods stand out amonf the rest. The safest area is certainly Alta Drive / S Art Boulevard, which is coincidentally also the area in America with the highest proportion of eastern european and lebanese ancestry in the country! Take a look at the full ranking below!

1. Alta Dr / S art Blvd
2. Farm Rd / N Tenaya Way
3. W Desert Inn Rd / Ridge Hollow Dr
4. Anasazi Dr / Thomas W Ryan Blvd
5. Kyle Canyon Rd / Sheep Mountain Rd
6. W Craig Rd / N El Capitan Way
7. Anasazi Dr / W Lake Mead Blvd
8. N Town Center Dr / Canyon Run Dr
9. Racel St / Maverick St
10. N Torrey Pines Dr / Grand Teton Dr

Top Las Vegas Districts – What is the Best Neighborhood to Live in Las Vegas?

There are too many neighborhoods to remember. Here we present the most important, hottest, and up-and-coming neighborhoods to keep in mind. If you’re looking to buy real estate in Las Vegas, these are where to look. They are home to some of the most interesting and luxurious real estate in North America. Our top Las Vegas neighborhoods for real estate are:

1. Whitney Ranch
2. The Strip
3. Arts Distrcit
4. University District
5. Summerlin
6. Rancho Charleston

Whitney Ranch – Mediterranean Luxury

Whitney Ranch is the place to go if you want a clean, suburban lifestyle with high-life luxury and proximity to the strip. You’re also close to the airport, and the best shopping in the city (in Henderson). Also, a low crime rate which is lower than most Nevada’s cities, and restaurants, recreation and high-grade bars. Houses here are in the mediterranean style to really make the most of the warm climate!

The Strip – Lively, Exclusive City-Life

You already knew that this was going to be on the list. The strip is arguably one of the most famous neighborhoods in the whole country. Home to twenty-something casinos, some of the best and biggest bars in the world, and the world’s best restaurants. What’s really the pull here though, is that there is always something going on. It’s also become more touristic with passing time, but compared to downtown, is definitely the more genuine of the two hotspots.

Arts District – Hip and Trendy Las Vegas

This area has also been dubbed “18b” because of the 18 city blocks it occupies. It has hundreds of art galeries, has great restaurants and boutique shopping opportunities, and is likely the better choice for more cultured visitors to the city. This is the place to move if you want a taste of the free-flowing excess of Las Vegas, with a bit more taste and elegance than you would perhaps find on the strip or downtown.

University District – A Bit More Normal

In the midst of the University District you will find the University of Las Vegas just steps from the Strip. Don’t forget to take a look at the desert garden, the tree-lined walkways to art galeries, popular tattoo stores, trendy coffee shops, natural history museum. Although originating as a college neighborhood, this part of town, as so many student districts, has morphed into a swanky area where everyone can hang out.

Summerlin – Masterpiece of Suburban Life

When people move to Las Vegas with their families and want to mimic the familiar suburban life, they are often drawn to this Master-planned community. It is home to some of the biggest and must regal real estate in the city. It is also an area with good schools, recreation opportunities and more. Summerlin is home to many of the city’s biggest names and is where common families send their children to school, do their shopping, and spend the weekend in the park. Most communities here are gated, like the one seen below.

Rancho Charleston – Best of Both Worlds

So you want the comfort and safety of a suburban lifestyle, without the bore? Still want to go out on the weekend without taking a 1.5-hour cab ride? Rancho Charleston is the place for you then. It is in immediate proximity to the loud areas (Strip, Downtown, Arts District), but also safe. This is the place for young families or singles looking to buy their first home.