Report: Fast Growing Tech Scene Is Boosting Miami Property Market

Technology jobs are growing fast in Miami, helping to bolster the real estate market in the area, according to new report in the FT.

Tech jobs were the fastest growing industry in Miami-Dade between 2012 and 2017. The total number of jobs was 11,440, up 40 percent during the five year period, Dade’s economic development organization said.

The tech scene in Miami is also growing faster than Boston, San Diego, and Las Vegas, according to the Brookings Institution.

Some tech entrepreneurs who can do their work from anywhere are choosing Miami thanks to a better lifestyle and lower taxes.

State and local taxes on a median household in Florida amount to 8.4 percent, compared to 13.7 percent in New York. Property taxes on a $1 million home in Manhattan are $19,250, compared to $12,800 in Miami-Dade.

Tech companies are said to be mostly clustered in an area between Wynwood in the north and Coconut Grove in the south, including Brickell and Edgewater.

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Anonymous

Im sure porn counts as tech

Anonymous

yes.

Anonymous

Who’s able to recognize Miami landmarks on Brazzers? Just me…

Anonymous

Me too and from other producers as well.

Anonymous

Hold my beer…

-Joe Carollo

Anonymous

Technology jobs are growing fast in Miami, helping to bolster the real estate market in the area, according to new report in the FT. *** Because the real estate market needs bolstering !!!?? LMAO

Anonymous

wishful thinking ? or reality ?

Anonymous

wishful thinking…trying a bit too hard to make those stats work for you.

Anonymous

I’m not sure it is wishful thinking. In Gables when I have lunch on Miracle Mile and Grove near Cocowalk, these days I sometimes hear other peoples conversations and more and more I hear words like Redis, Docker, Kubernetes… instead of the old school IT words like Microsoft, VMware, Cisco. I think it might be for real, just happening slowly.

Also I think a lot of those jobs are, out of necessity, going to better educated northern transplants that just moved here rather than local IT talents that are still living in 5 years ago IT skills (Microsoft, VMware, Cisco).

Anonymous

Wishful thinking and attempting to induce demand via build it and they will come mentality but this time it’s “say it and it’ll happen.” I’m sure this “fast growing tech scene” is correlated to our large startup ecosystem that doesn’t pay enough to afford our housing.

Anonymous

Just for comparison of numbers(not cities). NYC has 176,000 tech jobs, but nevertheless a positive trend for Miami.

Anonymous

uhh.. compare population

Anonymous

sometimes if/when something is true, you can feel it in the streets and on the job search sites…you don’t need some site named TNM to force you to belief. What a joke this area is. Good grief.

Anonymous

Get educated.
Miami is great and getting better.
Once you learn that, and get educated, employers will come looking for you.
Im looking, but not for dismal boring people…I need interesting coders and engineers.

Anonymous

“Im looking, but not for dismal boring people…I need interesting coders and engineers.”

Uh, that doesn’t make sense.

Anonymous

They leave to get educated and don’t come back. We all know it.

Anonymous

That was the case a decade ago. A significant number of students graduate and come back.

Anonymous

Give us a location quotient.

Anonymous

“Tech companies are said to be mostly clustered in an area between Wynwood in the north and Coconut Grove in the south, including Brickell and Edgewater.”

I thought it was Doral in the south and Miramar in the north, including Sunrise and Plantation. We need walkability and quality transit, and that doesn’t mean buses, dinky Metromover expansions, or shuttles. We could be Chicago of the South, attracting big companies back from the suburbs they left for in the 1970s.

Anonymous

“We need walkability and quality transit, and that doesn’t mean buses, dinky Metromover expansions, or shuttles.”

You left out flying cars, door to door Metro-rail stops, and bike lanes everywhere.

Oh.. and don’t forget parks right outside of everyone’s door.

Gringo

Wrong..property tax on a $600k 1 bedroom condo is $11,300.00 Miami Dade, Broward $11,000.00

Anonymous

But we all know you can fight your appraised/taxable value to reduce it, and a lot of folks do just that so…

aceraroja

Developer-funded lies, Miami is a cash dump for thieves