Summary
A new poll shows that many Miami-Dade County residents consider moving because living costs are high. Housing and home insurance expenses are a big part of this issue. Property taxes have also gone up, adding to the financial pressure on residents.
Key Facts
- Over half (56%) of Miami-Dade residents have thought about moving due to high living costs.
- Miami-Dade has housing costs that are 59% higher than the national average.
- The average home value in Miami-Dade is $520,181, which is much higher than the national average.
- Home prices in Miami-Dade dropped by 3.7% over the past year.
- The county has some of the highest home insurance costs in the country, over $6,000 per year on average.
- Miami-Dade's property taxes have increased by 49.50% since 2019.
- Florida Governor Ron DeSantis supports proposals to remove property taxes, but most Floridians don't agree with this idea.
- Eliminating property taxes could reduce Miami-Dade’s revenue by $3.27 billion, affecting public services.
