Fastest growing tech scene boosts real estate in MiamiJune 14, 2019
A new report released by the Financial Times puts Miami as the place to be if you are looking for technology jobs, which also serves as a booster to the real estate market of the city. The numbers are impressive; the tech industry was the fastest growing business in Miami-Dade between 2012 and 2017.
In total, there were 11,440 job opportunities, up 40 percent during the five years term, according to the county economic development organization. Another statistic, this time coming from the Brookings Institution, shows that the tech scene in Miami is growing faster than in San Diego, Boston, and Las Vegas.
Remarkably, a few tech entrepreneurs that can work remotely from anywhere are picking Miami to live due to a better lifestyle and lower taxes. Median household Floridians are paying 8.4 percent in state and local taxes, lower 5.3 percent than New York. For example, a $1 million home in Manhattan costs $19,250 in property taxes, as opposed to $12,800 in Miami-Dade.
Also, most tech companies are gathered between Wynwood and Coconut Grove, including the areas of Brickell and Edgewater.