Quick facts: Miami gardens, FL

Quick Facts

110.5
Cost of Living
above US average
110,497
Population
32.19
Crime Rate per 1000
above US average
$56,071
Median Income
below US average
$519,000
Median House Price
above US average
$2702.31
Average Rent
above US average
19%
Poverty Rate
above US average
3.6%
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 $56,071.

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Income Needed to Buy

βœ— Stretch
$163k/year
Based on $519,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $163k vs median $56,071
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Income Needed to Rent

⚠ Stretch
$116k/year
Based on $2702.31/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $116k vs median $56,071
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Miami gardens, FL

Miami Gardens, located in South Florida, is a vibrant city known for its rich cultural diversity and dynamic community. Established in 2003, it is one of the largest predominantly African American cities in the United States. The city boasts a population of approximately 113,000 residents and is situated just north of Miami, making it a part of the Miami metropolitan area. Miami Gardens is home to the Hard Rock Stadium, which hosts NFL games, concerts, and major events. Its lush green parks, such as the 32-acre Amelia Earhart Park, provide residents and visitors with ample outdoor activities, including sports, picnicking, and nature trails. The city celebrates a rich cultural scene with various events, including the annual Jazz in the Gardens Festival, which showcases renowned artists and musicians. Miami Gardens is also known for its diverse food scene, offering a wide array of culinary options influenced by its multicultural population. With its strategic location, Miami Gardens provides convenient access to nearby beaches, shopping centers, and entertainment, making it an attractive place to live and visit in sunny Florida.

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