In 2022, more people moved to Florida than anywhere else in the United States. Thus, the state became No. 1 in migration. At the same time, according to the US Census, almost 70% of the occupied housing units in the city are rented. Only 30% of Miami residents are homeowners.
Most of the homeowners are investors. Many of them own housing purchased specifically for renting to tourists. According to experts, in the period from August 2021 to July 2022, foreign investors accounted for 17% of home sales. At the same time, a third of them paid for the purchase in cash.
Miami has at least 20 separate districts, not counting the nearby municipalities: Miami Beach, Miami Lakes and Miami Springs. From Allapatta to Winwood, the city is filled with unique places. The most popular are Coral Way with its banana trees and classic Spanish-style houses. Coral Bay is located near the city center, but at the same time it is able to provide a quiet atmosphere for a quiet life.
Another popular area of Miami is definitely the center, which is a concentration of day and night life. Cafes, shops, nightclubs and parks are all part of a thriving neighborhood. Coconut Grove is an incredibly green and historic part of Miami with a relaxed atmosphere, an eclectic business district and an active community. Among those in demand among tenants who rent housing for a long time, and tourists, it is possible to note Winwood, the center for the development of fashion and art. The trendy streets of Wynwood are decorated with murals, galleries, restaurants and shops, which invariably attracts crowds of people.