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Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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not sure where you get your data from, but the same condo I am living in now in the heart of Brickell would easily be 40%+ more expensive (possibly a little older and definitely less sq footage) in San Diego (plus 10% state income tax), where I lived previously and moved from. LA and SF are even more expensive.
Depends on your career path and industry...most of my fellow building residents and neighbors in other buildings are professionals employed in the medical, legal and finance fields or small business owners and do well. Those who focus on (a common theme here on CD) or aspire to earn average or median income levels, much less so. Real estate wise, Miami is still a bargain compared to more expensive coastal cities such as NYC or CA cities. Those other areas do have more corporate, career and wealth building opportunities in more industries but also carry higher--not almost or similar--COL expenses.
Quote:
Originally Posted by FirebirdCamaro1220
California for sure. Not to mention Florida has some of the lowest wages in the country coupled with a cost of living above the national average, especially in Broward, Dade and Palm Beach counties, which are almost as expensive as Socal for apartments and condos
Last edited by elchevere; 07-05-2020 at 08:06 AM..
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,594,858 times
Reputation: 9169
Quote:
Originally Posted by elchevere
not sure where you get your data from, but the same condo I am living in now in the heart of Brickell would easily be 40%+ more expensive (possibly a little older and definitely less sq footage) in San Diego (plus 10% state income tax), where I lived previously and moved from. LA and SF are even more expensive.
Depends on your career path and industry...most of my fellow building residents and neighbors in other buildings are professionals employed in the medical, legal and finance fields or small business owners and do well. Those who aspire to earn average or median income levels, much less so. Real estate wise, Miami is still a bargain compared to more expensive coastal cities such as NYC or CA cities. Those other areas do have more corporate, career and wealth building opportunities in more industries but also carry higher--not almost or similar--COL expenses.
First, The Bay Area isn't SoCal which is why I didn't include it in this conversation. I was strictly talking LA and SD areas. And LA isn't more expensive than San Diego really, I've looked. The two are comparably priced. And relative to cities that aren't the Bay Area, DC, BOS or NYC, South FL is almost in the top tier real estate wise compared to 90%+ of the country, but with low wages in most fields
If you're a "professional", I'm sure South Florida isn't bad, but you're worse off there than in California in real terms otherwise. I know I would take a hit in quality of life if I moved to South FL from Phoenix, rents higher and wages in my field are 20% less than here in Phoenix as well, so would be a double edged sword. I looked into it a few years ago and when I saw that, I was like, nope!
not sure where you get your data from, but the same condo I am living in now in the heart of Brickell would easily be 40%+ more expensive (possibly a little older and definitely less sq footage) in San Diego (plus 10% state income tax), where I lived previously and moved from. LA and SF are even more expensive.
Depends on your career path and industry...most of my fellow building residents and neighbors in other buildings are professionals employed in the medical, legal and finance fields or small business owners and do well. Those who focus on (a common theme here on CD) or aspire to earn average or median income levels, much less so. Real estate wise, Miami is still a bargain compared to more expensive coastal cities such as NYC or CA cities. Those other areas do have more corporate, career and wealth building opportunities in more industries but also carry higher--not almost or similar--COL expenses.
The think the point is that the COL in South Florida (which is higher than what you will find in majority of the US, even if relatively lower than in California) coupled with the limited oportunities for career growth and networking makes it far less attractive than Califirornia for educated and ambitious professional.
Unless you're at a point where you have money up the wazoo and are ready to settle down (which seems to describe your situation), South Florida kind of fits the description of "expensive with nothing to show for it."
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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I was a professional (technology) and I definitely get more bang for my buck--COL and QOL--at least living in Miami, from an urban standpoint...walkable, year round warm weather ocean front city, better nightlife, hub airport, great restaurants, more bang for the buck real estate (often newer with more amenities), far less homeless and overall cleaner, etc.....being from NY and having lived in CA cities, Miami is the only city I could live in Florida...if I wanted suburbia, then I would opt for CA.
Again, depends on your occupation...most professionals do well here. Here is an interesting (little surprising) study that was conducted by Robert Half:
"Cities with the fewest professionals who report being underpaid: Those in Miami(33 percent), Dallas(37 percent), New York(37 percent), Los Angeles(39 percent) and San Francisco(39 percent) were least likely to say they felt shortchanged"
No doubt real estate has risen here as Miami attracts Northeasterners looking to flee high tax states and wealthy foreigners but it is still a relative bargain for what you get if you are a professional. I am less versed on other FL cities other than they are less expensive with fewer urban amenities.
Quote:
Originally Posted by FirebirdCamaro1220
If you're a "professional", I'm sure South Florida isn't bad, but you're worse off there than in California in real terms otherwise. I know I would take a hit in quality of life if I moved to South FL from Phoenix, rents higher and wages in my field are 20% less than here in Phoenix as well, so would be a double edged sword. I looked into it a few years ago and when I saw that, I was like, nope!
Last edited by elchevere; 07-05-2020 at 08:29 AM..
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,594,858 times
Reputation: 9169
Quote:
Originally Posted by elchevere
I was a professional (technology) and I definitely get more bang for my buck--COL and QOL--at least living in Miami, from an urban standpoint...walkable, year round warm weather ocean front city, better nightlife, hub airport, great restaurants, more bang for the buck real estate (often newer with more amenities), far less homeless and overall cleaner, etc.....being from NY and having lived in CA cities, Miami is the only city I could live in Florida...if I wanted suburbia, then I would opt for CA.
Again, depends on your occupation...most professionals do well here. Here is an interesting (little surprising) study that was conducted by Robert Half:
"Cities with the fewest professionals who report being underpaid: Those in Miami(33 percent), Dallas(37 percent), New York(37 percent), Los Angeles(39 percent) and San Francisco(39 percent) were least likely to say they felt shortchanged"
Yeah, I'm not a professional. I'm a truck driver, so I would do worse in Miami than either here in Phoenix or in Los Angeles
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,545,347 times
Reputation: 6682
Phoenix, yes; LA--depends....certainly not coastal LA....more so inland and also state income tax, higher DMV and gas prices. (just like it gets cheaper in SoFla when you move away from the coast....and also hotter / less breezes and more daily rain)...other cities in FL (Tampa, Orlando) are less expensive than Miami.
Quote:
Originally Posted by FirebirdCamaro1220
Yeah, I'm not a professional. I'm a truck driver, so I would do worse in Miami than either here in Phoenix or in Los Angeles
I will also add, last year I was interviewing for a position in South Florida and while looking for an apartment (never mind a condo or home), I couldn't find a 1br place in an *OK* neighborhood (Deerfield Beach) for less than $2K. You have to make at minimum $100K to be able to afford that and still enjoy a middle class lifesyle, and jobs in South Florida pat nowhere near that well.
To put things in perspective, that's not much less expensive than the places for rent in Santa Monica (a *GREAT* area), which start in the $2,000s.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,409 posts, read 6,545,347 times
Reputation: 6682
using that math, that's 25% more expensive rent plus 10% state income tax plus higher DMV and gas prices....Santa Monica is the one area I would consider living in LA....curious, as to sq footage and age of building comparisons....if your aspiration is to own in Santa Monica vs. SoFla, good luck with that one....my cousin is an appraiser living off of Montana Avenue in Santa Monica and shakes his head in disbelief how much more and newer you get for your money in Miami or Miami Beach vs. Santa Monica. An older 3BR, dated, 1800 sq ft condo was just appraised by him for $3.3M--I could live in Palm Island or have a nicer condo directly on the water in Brickell and keep $2M in my pocket for spending money for that price.
Quote:
Originally Posted by citidata18
I will also add, last year I was interviewing for a position in South Florida and while looking for an apartment (never mind a condo or home), I couldn't find a 1br place in an *OK* neighborhood (Deerfield Beach) for less than $2K. You have to make at minimum $100K to be able to afford that and still enjoy a middle class lifesyle, and jobs in South Florida pat nowhere near that well.
To put things in perspective, that's not much less expensive than the places for rent in Santa Monica (a *GREAT* area), which start in the $2,000s.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,594,858 times
Reputation: 9169
Quote:
Originally Posted by citidata18
I will also add, last year I was interviewing for a position in South Florida and while looking for an apartment (never mind a condo or home), I couldn't find a 1br place in an *OK* neighborhood (Deerfield Beach) for less than $2K. You have to make at minimum $100K to be able to afford that and still enjoy a middle class lifesyle, and jobs in South Florida pat nowhere near that well.
To put things in perspective, that's not much less expensive than the places for rent in Santa Monica (a *GREAT* area), which start in the $2,000s.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,594,858 times
Reputation: 9169
Quote:
Originally Posted by elchevere
Phoenix, yes; LA--depends....certainly not coastal LA....more so inland and also state income tax, higher DMV and gas prices. (just like it gets cheaper in SoFla when you move away from the coast....and also hotter / less breezes and more daily rain)...other cities in FL (Tampa, Orlando) are less expensive than Miami.
Los Angeles area has a ton of work for truck drivers and wages are good too, starting market wage is now about $22/hr for local drivers, compared to $18/hr here and $15-$16/hr in the Miami area
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