Moving to Miami in 2024? Complete Moving Guide

Planning to move to Miami?

Miami is a vibrant city with rich history, beautiful beaches, diverse culture and a great destination for tourists. If you are planning to move here, then you should know a few things about the city like the cost of living, climate and food scene. The cost of living in Miami is higher than the national average. The city has a subtropical climate throughout the year with high humidity and hot weather. The city has a perfect blend of different cultures like Hispanic and Caribbean populations. You can be a part of various festivals and events throughout the year. Miami has a diverse economy and multiple flourishing industries. The city is prone to hurricanes, so if you move here you have to be prepared for the worst scenarios. All these are pointers about Miami but you need detailed information about the city.

Van Lines Move has prepared a city guide to help you plan your move by learning everything before moving there-

• Quick Facts of Miami
• Top reasons to move to Miami
• Pros & Cons of Living in Miami
• Best Neighborhoods in the Miami
• Cost of living in Miami
• Miami job market
• Major industries in Miami
• Top Career Options in Miami
• Best things to do in Miami
• Education System in Miami
• Type of insurance required in Miami
• Taxes in Miami

The cost of living in Miami is higher than the national average. It is 18.7% higher than the national average which means all the expenses are more expensive than the other parts of the country.

Source: Council for Community and Economic Research

Housing Market in Miami 

The housing market in Miami is considered as the seller’s market and inventory is low in the city. The median sale price of homes in Miami has been on a steady rise which is expected to be increasing in coming years. The median sale price for a home in Miami in October 2023 was $699,000. There are several reasons for the strong demand for housing in Miami including low interest rates, strong economy and limited supply.

Average rental cost in Miami

The average rent for a house in Miami is $3,200 per month and it shows a decline in the rent. The average rental price depends on several factors like size of the house, the location of the house, and demand.

Several industries in Miami are flourishing and employing the residents of the city. The unemployment rate in Miami is below the national average.

Median Salary in Miami

The median salary in Miami is $47,860 and the median salary depends on the following factors- education, occupation and experience.

Transportation & Navigation in Miami

Miami has a mix of public and private transportation systems and you can pick the option that suits you best-

Public Transportation- The city has Miami-Dade Transit which operates a comprehensive bus system, the Metrorail rapid system and the Metromover streetcar system. There are more than 100 routes for the bus system while the Metrorail system has only two lines.

Public Bikeshare- The city has Citi Bike Miami Beach which is a public bikeshare system that has more than 3,000 bikes available at over 60 stations throughout Miami Beach. You can rent the bike for the day or the month.

Taxis and Shared Rides- Taxis are easily available in Miami. Apart from these, there are various ride-sharing services in the city like Uber, Lyft, etc. However, these are more expensive than public transportation.

Parking- It is difficult to find a parking spot in Miami, especially in downtown and tourist spots. There are metered parking and parking garages available at different rates.

Navigation- The city is easy to navigate because it has a well-developed network of roads in the city. You can get around the city via highways and toll roads. Traffic can be a trouble during rush hours.

Homeowner’s Insurance- This type of insurance will protect your home and household belongings from any damage or loss caused by fire, theft or vandalism. If someone gets injured on your property, then you will also get liability coverage.

Automobile Insurance- This type of insurance is required by law in Florida. This will protect you from financial liability in case you get involved in an accident or someone gets injured by your vehicle.

Life Insurance- This type of insurance is not required by law but is highly recommended as it will financially support your family in the event of your death.

Health Insurance- This type of insurance helps pay medical expenses like doctor visits, prescription medication, and hospital stays. There are several health insurance plans available and it is required by law for most Americans.

Flood Insurance- This type of insurance is not required by law in Florida but is highly recommended as the city is at risk of flood. The flood insurance will protect your home and household belongings from the damage caused by floods.

Business Insurance- This type of insurance protects businesses from financial liability in case of any loss or damage caused due to theft, lawsuit or other events.

Income tax- This tax applies to all individuals and businesses with income. There is state income tax in Florida but residents have to pay federal income tax.

Sales Tax- The tax is applicable on the purchase of goods and services. There is a 7% sales tax rate in Miami.

Property Tax- The property tax is a tax on the assessed value of real estate. The rate of property tax varies according to the location and value of the property.

Hotel Tax- There is a tax on the cost of the hotel rooms and it is 7% in Miami.

Gas Tax- Gas tax is applicable on the purchase of gasoline and it is 29.3 cents per gallon in Florida.

Alcohol Tax- In Florida, there is a tax on the purchase of alcohol and the tax rates vary according to the type of alcohol.

Source: Florida Department of Revenue and the Miami-Dade County Department of Finance and Administrative Services

Disclaimer: The information provided in this guide is for informational purposes only and should not be construed as legal, financial, or professional advice. It is recommended to conduct thorough research and consult relevant experts before making any decisions related to relocation.