Residents of Downtown Miami Are Getting Younger
Dec 05, 2014 December 05, 2014
The population of Downtown Miami is quickly growing and getting younger, sources say.
The Miami Downtown Development Authority (DDA) has researched downtown areas from Brickell to Midtown and have discovered some interesting trends. In 2014, the population of those areas grew to almost 81,000, which is twice as much as it was in 2000, according to U.S. Census information. Many do not foresee population growth slowing down either. Sources estimate the population at over 92,000 by 2019.
The biggest change in population was the Central Business District. They experienced a 193% increase to over 14,000 people. In addition, the Arts and Entertainment District rose 162% to almost 12,000 people, and Brickell saw a 152% jump to over 32,000.
Many of the 23,000 condo units built during the last housing boom actually became affordable rental units for younger new residents. “A lot of people came downtown and realized it was vibrant and exciting,” said Alyse Robertson, executive director of the DDA. She notes that those condos, which were a little over half occupied, are reaching 100% capacity.
About 46% of the local downtown Miami population are between the ages of 25 and 44, in comparison with 29% for the Miami-Dade. 58% of these residents 25 and up have a college degree, in contrast to 35.9% for the county. Lastly, the median household income is $65,000, as opposed to the county average of $41,000.
Source: therealdeal.com
Photo credit: Babies - mumstreet.com
Share your thoughts with us
Your Miami Condo Awaits
Recent Posts
Market Reports Q2 2024 Miami Luxury Condo Market Report: Stable Market Thrives
With above-average sales and record prices, Q2 2024 data shows how Miami's luxury condo market is thriving with no signs of a major correction. This paired with Moody's latest AAA rating and stable outlook for Florida's economy further validates that Miami's luxury housing market is poised for continued growth. In our neighborhood-wise analysis for Q2 2024, Coconut Grove & Coral Gables (combined) plus Mid-North Beach (collectively) stood out as the markets to watch. Interestingly, Mid-North Beach's modestly-sized luxury condo market emerged as the most popular among buyers in Q2 2024, as it closed the quarter with the highest year-over-year increase (44%) in sales. The beachside grouping also provided maximum value to sellers by reporting the highest percentage gains (38%) in year-over-year Price per Square Foot. On the other hand, Coconut Grove & Coral Gables maintained its status as the most dynamic market in Miami by reporting the lowest days to market and inventory...
Preconstruction Ocean House: Boutique Condo Project in Surfside
Miami's vibrant real estate scene has just welcomed an exciting new addition: Ocean House, an ultra-luxury boutique condominium on the coveted Surfside beachfront. This project, recently launched by developers Multiplan Real Estate Asset Management (Multiplan REAM), promises to redefine the city's luxury living concept. Designed by the renowned firm Arquitectonica, Ocean House will be an architectural masterpiece that seamlessly blends contemporary elegance with the serenity of its coastal surroundings. Its flowing, curvilinear lines perfectly frame the expansive floor-to-ceiling windows offering breathtaking panoramic views of the Atlantic Ocean. Rising 10 floors, the building will house a total of only 25 residences for the most discerning buyers seeking location, privacy and craftsmanship. Prices at Ocean House start at $5 million, reflecting the project’s exclusivity and level of luxury. For those seeking the best of the best in Surfside, this represents a unique investment...
Opinions and Advice 7 Questions to Ask a Condo Association Before Buying
One of the most important aspects of condo living is the relationship you’ll have with your Homeowners Association (HOA) or Condo Owners Association (COA), which is the entity in charge of managing and regulating your building and community. These associations dictate policies that directly affect you as a homeowner; this is why it’s so important to know the right questions to ask a COA before buying a new condo. In our years of experience serving clients buying a condo in Miami’s real estate market, we’ve come across many buyers who, like you, might be wondering what’s fair game to ask. First, an experienced and licensed real estate agent in your city is one of your biggest allies before you put in an offer. They often will already know a lot of insider information about a building from past and current owners and clients. And that knowledge can prove invaluable. However, we also advocate for you as a condo buyer to be as aware and educated as possible when making a condo purchase...
Luxury The Most Luxurious Condo Buildings in Key Biscayne
Key Biscayne is a coveted neighborhood offering the best of South Florida living in an intimate, family-focused island setting. With uncluttered and semi-private beaches, acres of lush national park space, greenery, tennis facilities, golf courses, and family-friendly safety, this island is a harmonious suburban community with quick access to Miami’s best. Residents rate this tropical paradise as one of the finest to build a life and raise a family. It is so desirable that even stars like Lionel Messi, Cher, Andy García, Latin pop star Juanes, and tennis superstar Mary Joe Fernandez have decided to call Key Biscayne home at some point. So, if you’re curious to know what the very best of island living in Miami is like, we’ve got you covered. Here’s our expertly curated list of the top five best condos in Key Biscayne and why each deserves their position. Prices per square foot reflect prices at the time of posting. — Why Choose Key Biscayne? Key Biscayne is considered an...
Video Blog Video: These Are Miami’s Top Condo Developers
Miami’s skyline constantly evolves with exciting buildings that transform the landscape and become icons on their own; think One Thousand Museum by the legendary Zaha Hadid! And even though architects are often the visible name, condo developers are the ones that make all of these masterpieces possible. They have the vision, form stellar teams, and take risks to make everything possible. In our latest video, Sep Niakan, founder of Blackbook Properties and veteran Miami real estate broker, examines the top five condo developers in Miami responsible for transforming our city over time and why you should care about them. Curious to see who they are? When looking for a Miami condo for sale, you as a buyer should definitely look into who the developer is. Developers create the vision for the project and are responsible for bringing that vision to life by building something that meets your expectations, will stand the test of time, and protects their brand....
Real Estate News Best Miami Neighborhood: Coconut Grove vs Key Biscayne
Even as areas such as Edgewater, Downtown Miami, and Brickell are becoming more and more popular as top Miami neighborhoods to live in, two of the Magic City’s older and more established neighborhoods have tremendous appeal to families and those who seek the ultimate tropical coastal living experience. We’re of course talking about Coconut Grove and Key Biscayne, two of Miami’s best-known waterfront neighborhoods, each with marvellous housing and lifestyle options. Here in this blog, we’ll explore their key differences and similarities to help you choose the best one for your lifestyle. — Lifestyle: Coconut Grove vs. Key Biscayne Coconut Grove (Bay) Coconut Grove is one of Miami’s oldest neighborhoods. It has a distinctly laid-back, Caribbean feel, and its streets line miles of the coastline along Biscayne Bay. Because of this location, the Grove appeals to those who love living on the water and having easy access to the bay—it’s a haven for sailing, water sports, and...
(305) 697-7667
(786) 321-7233 
contact@condoblackbook.com
