Quick facts: North miami beach, FL

Quick Facts

107.5
Cost of Living
above US average
43,023
Population
34.63
Crime Rate per 1000
above US average
$56,122
Median Income
below US average
$630,000
Median House Price
above US average
$7150.13
Average Rent
above US average
13%
Poverty Rate
above US average
2.7%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $56,122.

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Income Needed to Buy

βœ— Stretch
$198k/year
Based on $630,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $198k vs median $56,122
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Income Needed to Rent

⚠ Stretch
$306k/year
Based on $7150.13/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $306k vs median $56,122
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for North miami beach, FL

North Miami Beach, located in Miami-Dade County, Florida, is a vibrant coastal city known for its diverse community, beautiful parks, and access to stunning beaches. Situated just north of Miami, it boasts a blend of suburban tranquility and urban amenities. The city features a rich cultural scene with various events, festivals, and a range of dining options reflecting its multicultural population. The city's picturesque coastline along the Atlantic Ocean provides opportunities for water sports, fishing, and relaxation. Notable parks, such as Greynolds Park and the North Miami Beach Historical Museum, offer recreational activities and insight into the area’s history. North Miami Beach is also home to several shopping centers, including the Intracoastal Mall, offering a mix of retail, dining, and entertainment. The city is well-connected via major roadways and public transportation, making it accessible for residents and visitors alike. With a warm climate year-round, numerous outdoor activities, and a family-friendly atmosphere, North Miami Beach is an appealing destination for those seeking a blend of leisure and suburban life in South Florida.

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