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Miami-Dade County, FL

RANK #928 / 996  ·  POP 2,688,237  ·  FL

PROJECTED GROWTH: -2.2%

Miami-Dade County ranks in the bottom tier of U.S. counties on economic momentum.

[01] Why Miami-Dade County?

Miami-Dade County, located at Florida's southeastern tip, is a large region known for its diverse international culture and tropical climate. A local might first mention the vibrant atmosphere of areas like South Beach, famous for its Art Deco architecture and beaches, or the distinct Cuban-American community in Hialeah. The county is bounded by Biscayne Bay and the Atlantic Ocean to the east and Everglades National Park to the west, offering extensive outdoor recreation opportunities including beaches, parks, and nature reserves for hiking, kayaking, and birdwatching. Commute options include Metrorail, Metrobus, and the free Metromover in Downtown Miami, along with various trolley services.

Life in Miami-Dade County is characterized by its multicultural environment, with over 54% of its population being foreign-born. The public school system, Miami-Dade County Public Schools, is one of the largest in the nation and offers diverse programs, including magnet schools. The economy is driven by tourism, international trade, and finance, with Miami serving as a gateway to Latin America and the Caribbean. Recent economic developments focus on fostering innovation, supporting small businesses, and investing in resilience. However, the county has faced challenges with high living costs and housing unaffordability.

[02] Market Snapshot

Housing Ratio
5.1x

Above national median (4.7x)

GDP Growth
+3.4%

Above national median

Home Prices
-3.4%

Prices declining

Climate & Terrain

No data

Price/Rent
12x

Strong rental yield

Housing is fairly valued at 5.1x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Miami-Dade County U.S. National

The Numbers

DEMOGRAPHICS
Population
2,688,237
-0.07% YoY
Median Household Income
$64,215
Median Home Value
$387,000
-3.37% 12mo
Median Rent
$1,623
Average Annual Pay
$77,609
+4.6% YoY
Employment
1,257,569
+1.9% YoY
Income-to-Home-Value
0.1659
Less affordable than average
Migration Inflow
0.94%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$563,500
Days on Market
105
Slower market
Months of Supply
10.1
Buyer's market
Sale-to-List Ratio
95.0%
Negotiation room for buyers
Sold Above List
7.1%
Listings w/ Price Drops
17.8%
Building Permits (2024)
10,608
Single-Family Permits
2,231

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$324M
TOTAL
PROJECT AMOUNT STATUS
Amazon Fulfillment Center (Naranja)
Amazon
$100M Operating
FPL Miami-Dade Solar Energy Center
Florida Power & Light (FPL)
$75M Operating
Everglades Solar Energy Center
Florida Power & Light (FPL)
$74M Operating
Redlands Solar Farm
Florida Power & Light (FPL)
$74M Planned

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +3.4% 63 percentile
Population Growth -0.1% 26 percentile
Income Growth +11.1% 91 percentile
Vacancy Rate 1.6% 20 percentile
Home Price Change -3.4% 8 percentile
Rent Growth -0.3% 9 percentile
Price/Rent 12x 74 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Miami-Dade County, FL a good place to move to?

Miami-Dade County has a Boom Town Index score of 7/100, ranking #928 among 996 U.S. counties. With job growth at +1.9% and a median household income of $64,215, it faces some economic headwinds compared to faster-growing counties.

Is Miami-Dade County affordable?

The median home value in Miami-Dade County is $387,000 with median rent at $1,623/month. The income-to-home-value ratio is 0.1659, which is less affordable than the national average.

Is Miami-Dade County growing or shrinking?

Population growth: -0.1% year-over-year. Job growth: +1.9%. Home values changed -3.4% in the past 12 months.

[08] Similar Metros

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