Miami-Dade County Real Estate and Livability Trends
Miami-Dade County has seen a remarkable rise in median home values, jumping from $203,300 in 2015 to $387,000 in 2022, suggesting it may be a hotspot for real estate investment. This growth trajectory is further backed by a noticeable climb in residential energy tax credits, hitting $1,977.11 per return in 2021, indicating a heightened focus on energy-efficient home upgrades. However, substantial... Read more
Miami-Dade County Market Trends
Median home values in Miami-Dade County, Florida have soared from $203,300 in 2015 to $387,000 in 2022, outpacing both state and national trends and possibly marking the county as a hot investment spot. Residential energy tax credits have also climbed, reaching about $1,977.11 per return in 2021, signaling a growing emphasis on energy-efficient upgrades. Real estate taxes have seen substantial... Read more
Median Value of Occupied Housing Units in Miami-Dade County, Florida Over the Last 8 Years
Median home values in Miami-Dade County, Florida have seen a significant rise over the past eight years, climbing from $203,300 in 2015 to $387,000 in 2022. This surge outpaces both the state of Florida, which went from $159,000 to $292,200, and the national median, which increased from $125,500 to $179,400 during the same period. Investors and prospective homeowners would do well to take note, as Miami-Dade's property market appears to be growing in value faster than both state and national markets, potentially signaling strong investment opportunities and a dynamic real estate environment.
Residential Energy Tax Credit Per Tax Return in Miami-Dade County, FL Over the Last 9 Years
Over the last nine years, Miami-Dade County, Florida has seen a notable rise in the average residential energy tax credit claimed per tax return. Starting at around $674.55 in 2013, this amount has surged incrementally, peaking at approximately $1,977.11 in 2021. Particularly significant jumps were seen in 2017 and 2018, reflecting intensified investment in energy-efficient home upgrades. This trend is crucial for potential investors and residents considering sustainable living options and tax benefits in the area.
Average Real Estate Taxes Per Tax Return in Miami-Dade County, FL Over the Last 10 Years
Real estate taxes per tax return in Miami-Dade County, Florida have seen significant fluctuation over the past decade, with a general upward trend. Starting at $5,056.40 in 2012, there's a notable jump to $10,130.89 by 2021. Noteworthy spikes occurred in 2017 ($6,982.46) and 2018 ($8,976.16), implying potential policy shifts or market changes. This upward trajectory could influence property investment decisions, as rising taxes may impact overall affordability and return on investment.
Percentage of Farm Returns in Miami-Dade County, FL Over the Last 10 Years
Farm tax returns in Miami-Dade County, Florida, have shown slight fluctuations over the past decade, generally hovering just above or below 0.14%. They peaked slightly in 2015 and 2017 at around 0.15%, with a notable dip in 2020 to approximately 0.13%. These small changes could indicate a stable yet marginal agricultural sector within the county. For potential investors or builders, this suggests limited but consistent farming activity, potentially translating to opportunities in niche agricultural markets or rural development.
Number of Mortgages by Occupancy Type in Miami-Dade County, FL Over the Last 5 Years in Miami-Dade County
The number of mortgages in Miami-Dade County, Florida over the past five years shows a noticeable trend in occupancy types. Principal residences consistently dominate the market, peaking in 2021 with 143,139 mortgages but seeing a sharp decline to 94,097 in 2022. Investment properties have a steadier, albeit smaller, presence, and similarly tapered off slightly from a high of 15,049 in 2021 to 14,194 in 2022. Second residences have the least activity, with values fluctuating between 3,549 and 5,750. Changes in occupancy type could be indicative of economic shifts or attractiveness of the area for different types of buyers, impacting decisions for investors, developers, and policymakers who need to anticipate market demands and allocate resources wisely.
Economic Outlook
Miami-Dade County has experienced a steady increase in average taxable income per tax return, surging from $50,956.80 in 2013 to $101,676.21 in 2021. Alongside this, state and local income taxes per tax return have also spiked significantly, from $33,310.95 in 2012 to $144,524.15 in 2021, suggesting economic growth and potentially larger incomes in the region. The total tax liability per tax return has followed a similar upward trajectory, reaching $23,965.56 in 2021, hinting at increasing... Read more
Average Taxable Income per Tax Return in Miami-Dade County, FL over the last 9 years
Miami-Dade County has seen a significant uptick in average taxable income per tax return, rising from $50,956.80 in 2013 to a noteworthy $101,676.21 in 2021. After a dip in 2016 to $54,656.08, there has been a consistent increase, peaking notably in the last two years. This trend highlights a promising economic environment, potentially offering lucrative opportunities for investors and indicating a thriving local economy for those considering relocating, building property, or generally taking an interest in the area's financial health.
Average State and Local Income Taxes Per Tax Return in Miami-Dade County, FL Over the Last 10 Years
Miami-Dade County has seen substantial increases in state and local income taxes per tax return over the past decade, with a marked uptick from $33,310.95 in 2012 to $144,524.15 in 2021. This dramatic rise reflects both economic growth and possibly higher incomes within the region. These trends are noteworthy for investors and potential residents as they signal shifting financial landscapes and the potential for increased public services or infrastructure investments.
Average Total Tax Liability Per Tax Return in Miami-Dade County, FL Over the Last 10 Years
Miami-Dade County has seen a significant increase in the average total tax liability per tax return over the past decade, with values climbing from $11,670.27 in 2012 to a notable $23,965.56 in 2021. This upward trend is marked by some fluctuations, particularly a dip in 2016 to $11,797.93 and a jump in 2020 to $18,996.07. Investors and potential residents should note this growth reflects increasing wealth but also potentially rising costs, impacting financial planning and property investment strategies.
Cost of Living in Miami-Dade County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,530 | $1,709 | $1,824 | $1,328 | $1,465 |
| 1 adult 4 children | $2,530 | $1,396 | $1,394 | $1,328 | $1,613 |
| 2 adults 3 children | $2,530 | $1,396 | $1,583 | $1,328 | $1,229 |
| 1 adult 3 children | $2,530 | $1,140 | $1,153 | $1,328 | $1,368 |
| 2 adults 2 children | $1,923 | $1,143 | $1,342 | $1,155 | $917 |
| 1 adult 2 children | $1,923 | $854 | $912 | $1,155 | $956 |
| 2 adults 1 child | $1,923 | $903 | $1,101 | $593 | $854 |
| 1 adult 1 child | $1,923 | $583 | $671 | $593 | $788 |
| 2 adults | $1,546 | $726 | $860 | $0 | $719 |
| 1 adult | $1,362 | $396 | $430 | $0 | $602 |
Safety trends & Data
Miami-Dade County, Florida has experienced significant fluctuations in property crime rates over the past five years. Larceny-theft hit its peak in 2019 with 8,854 incidents but sharply declined to 1,185 by 2022. Similarly, burglaries dropped from 1,432 cases in 2019 to 120 in 2022. Although arson incidents remained relatively low, they showed inconsistent yet ongoing occurrences. This varied landscape of crime trends, with overall declines, might hint at improved law enforcement or community... Read more
Property Crime Trends in Miami-Dade County, FL Over the Last 5 Years
Miami-Dade County, Florida has seen significant fluctuations in property crime trends over the past five years. Notably, larceny-theft peaked in 2019 with 8,854 incidents but drastically declined in subsequent years to just 1,185 by 2022. Burglary also saw a substantial decrease from 1,432 cases in 2019 to only 120 in 2022. Conversely, arson incidents, though relatively low, showed inconsistent yet persistent occurrences across the years. These trends suggest a varied landscape for crime, pointing to an overall decline which could potentially indicate enhanced law enforcement measures or community engagement, making this county an interesting prospect for investors and residents alike.
Demographics
Miami-Dade County shows an almost equal gender distribution among adults, with a slight female majority. The educational landscape sees a significant portion of the population holding high school diplomas and bachelor's degrees, though a noteworthy percentage did not complete high school. The county's age distribution is quite varied, with a substantial number of residents in both younger and older demographics, particularly those under 10 and those aged 25 to 54. Racial diversity is prominent,... Read more
Race Distribution in Miami-Dade County, Florida (2022)
Educational Attainment in Miami-Dade County, Florida (2022)
Age Distribution in Miami-Dade County, Florida
Citizen Population in Miami-Dade County, Florida (2022)
Political Trends & Data
In Miami-Dade County, Florida, the 2020 U.S. Presidential Election hinted at a slight Democratic preference with around 53.4% of the vote, while Republicans captured about 46.1%. Although Democrats had the edge, the close margin and notable Republican support suggest a diverse political landscape that could influence local policies and housing market... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Miami-Dade County, Florida, the 2020 U.S. Presidential Election results showed a possible leaning towards the Democratic Party with around 53.4% of the vote, while Republicans garnered roughly 46.1%. Third-party candidates, including Libertarians and Greens, appeared to have minimal impact, each receiving less than 0.3% of the total votes. This distribution suggests that, while the county might favor Democrats, a significant portion of the electorate still aligned with Republican ideals.
46.06% of voters voted for the Republican party in the 2020 Presidential Election
53.41% of voters voted for the Democrat party in the 2020 Presidential Election
0.29% of voters voted for the Livertarian party in the 2020 Presidential Election
0.11% of voters voted for the Green party in the 2020 Presidential Election
0.13% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Miami-Dade County, Florida, the student-to-teacher ratio spiked to nearly 30 in 2021 before dropping to around 19 in 2022, still above the national average of 14. This persistent strain on educational resources is something families, investors, appraisers, and real estate agents should consider, as it could impact local property values and the overall appeal of the area. For insurance agents and property developers, these fluctuations might affect risk assessments and community planning... Read more
Student-to-teacher ratio in Miami-Dade County, Florida over the last 10 years
The student-to-teacher ratio in Miami-Dade County, Florida has shown significant fluctuations over the last 10 years, peaking sharply at nearly 30 in 2021, which is more than twice the national average of 14. Though it dropped to around 19 by 2022, it remains above the national average, indicating potential strain on educational resources. This variability could impact decisions for families considering relocation, investors analyzing educational quality, appraisers evaluating property values, and real estate agents advising clients. For insurance agents and property builders, understanding these trends might inform risk assessments and community planning.
