Miami passes Los Angeles as the second most expensive housing market in the US

[tay1]

The median household income in Miami is $39,049, while the median home price is $549,000


According to the October 2021 Housing Affordability Index report by RealtyHop, which analyzes the affordability of housing markets in the United States, Miami has officially overtaken Los Angeles as the secondleast affordable housing market in the country.

In their September 2021 report, Miami had ranked No. 3 on their list of least affordable housing.

Now, Miami has come in second only to New York City, which has maintained its reputation as the most expensive housing market in the country for numerous years. In New York City, the current median household income is $63,998 and the median home price is $958,000.

Miami passes Los Angeles as the second most expensive housing market in the US

Miami has officially overtaken Los Angeles as the second least affordable housing market in the country.

www.local10.com

 

[tay1]

 

[tay1]

What do y’all think brings people to Miami and what makes the housing market so high ?

 

[6 Rings G.O.A.T.]

 

[danikerhino]

What do y’all think brings people to Miami and what makes the housing market so high ?

Entertainment, weather, beaches, and scenery, similar to LA.

 

[6 Rings G.O.A.T.]

What do y’all think brings people to Miami and what makes the housing market so high ?

Sun

 

[americangenius]

Everyone

Entertainment, weather, beaches, and scenery, similar to LA.

That and no state income tax which actually makes it more affordable than LA.
Moved to Brickell Miami early this year and now there are no more units available for sale or rent in my building.

 

[stuntman mike]

lol @ 549k. that’s like half of what a plain ol house costs here.

 

[frshstunna]

What do y’all think brings people to Miami and what makes the housing market so high ?

The beach, sunny weather and “luxury lifestyle” …It’s expensive cuz rich ppl like to set up shop there for those reasons so the prices high cuz somebody guaranteed to buy it

The median income folks are in places nobody thinks when they hear Miami, buts it’s like this in a lot of places

 

[tay1]

Everyone

That and no state income tax which actually makes it more affordable than LA.
Moved to Brickell Miami early this year and now there are no more units available for sale or rent in my building.

Where in LA as far as comparison goes though? LA is a county.

 

[executive76]

What do y’all think brings people to Miami and what makes the housing market so high ?

Money laundering.

 

[executive76]

 

[dmbrhs]

Entertainment, weather, beaches, and scenery, similar to LA.

You forgot to mention the part about no state income tax. Why do you think NBA free agents like signing in Miami? They get all that, plus they don't have to pay state income tax on 41 home games a year.

 

[AZwildcats]

Yeah the tax policies have a huge role in it. The lax COVID laws too

 

[smedroc]

What do y’all think brings people to Miami and what makes the housing market so high ?

Yambs.

 

[703 hwy]

What do y’all think brings people to Miami and what makes the housing market so high ?

Kyle Lowry’s butt

 

[DCAllAfrican]

What do y’all think brings people to Miami and what makes the housing market so high ?

*******.
Sun.
Water.

 

[tr1ll]

They way people talk about leaving LA, its should be on the down slope. Or is that just my perspective living in Texas? They running our **** up.

 

[deusavertat]

It's still Florida. No thank you.

 

[Mark Antony]

Florida seems like a great bastion of hidden criminal activity.

 

[jape]

Miami is a wild place. Went for a bachelor party last month. Would never liver there though

 

[tay1]

They way people talk about leaving LA, its should be on the down slope. Or is that just my perspective living in Texas? They running our **** up.

People are leaving LA but others are coming in. It's not like we have a declining population

 

[RustyShackleford]

Every city needs to build more multifamily housing

People for so long acted like it was a problem unique to liberals cities when it was also a simple housing supply issue. Some places just reached crisis points faster than others

So now a red city in a red state is have the same issues, then maybe for once people will realize that the problem is straight forward and the answer it the same

Reform zoning laws, and build more multifamily housing

 

[jape]

People are leaving LA but others are coming in. It's not like we have a declining population

For the Los Angeles area, the county's population began to decline from 10.1 million in 2018, dropping to fewer than 10 million people for the first time since 2013 in 2021.3 days ago

https://www.sacbee.com › capitol-alert

COVID-19 a factor in California population loss, report says
​

 

[tay1]

For the Los Angeles area, the county's population began to decline from 10.1 million in 2018, dropping to fewer than 10 million people for the first time since 2013 in 2021.3 days ago

https://www.sacbee.com › capitol-alert

COVID-19 a factor in California population loss, report says​

Census: LA City Sees 2.8% Growth Over Past Decade; LA County Nation's Biggest​

The city of Los Angeles remains firmly entrenched as the nation's second-largest municipality, with U.S. Census figures released Thursday putting the city's 2020 population at 3,898,747, a 2.8% increase from 2010.

New York remains the largest city, growing by 7.7% over the past decade to reach a 2020 population of 8,804,190.

With 10,014,009 residents, Los Angeles County remains the largest county in the nation, nearly doubling the population of Cook County, Illinois. San Diego County is the fifth-largest county with nearly 3.3 million residents, followed by Orange County with nearly 3.2 million. Riverside County ranks 10th with 2.4 million.

Los Angeles County's population grew by 2% over the past decade, adding 195,404 residents, according to the Census data.

Census: LA City Sees 2.8% Growth Over Past Decade; LA County Nation's Biggest

The city of Los Angeles is still the second-largest municipality in the U.S., behind New York City, the 2020 census found. LA County is the largest county in the United States.

www.nbclosangeles.com