By Gay Cororaton, MIAMI REALTORS Chief Economist
MIAMI Association of Realtors® (MIAMI) latest Profile of Homebuyers in Southeast Florida Report validates the narrative that MIAMI’s homebuyers are more global, racially diverse, more well-educated, and wealthier than homebuyers in Florida and the nation.
MIAMI’s research is based on the latest available Census data. Census data is released about a year after it is compiled to ensure correctness. 2024 numbers will be released in October 2025. An analysis of households and people who moved into an owner-occupied home during 2022-2023 using the US Census Bureau American Community Survey, 2023 1-year Public Use Microdata Sample (PUMS) household and person (person #1) data weighted by housing weights (wgtp).
Download the Profile of Southeast Florida Homebuyers in 2022-2023 HERE.
Miami-Dade County homebuyers: more global, racially diverse, younger, wealthier
- 7% of homebuyers who moved to Miami-Dade County in 2022-2023 lived abroad ( 3% in Florida, 1% nationally).
- 44% of homebuyers reported they were of two or more races (15% in Florida, 10% nationally).
- 79% spoke a language other than English (31%) and nationally (23%); Spanish, Haitian, and Portuguese were the top languages spoken at home among homebuyers.
- 31% of homebuyers were 25-34 years old, the largest group (20% in Florida, 29% nationally).
- 8% of homebuyers had household income of $500,000 or more ( 3% in Florida, 3% nationally).
Broward County homebuyers: more global, racially diverse, younger, wealthier
- 8% of homebuyers who moved to Broward County in 2022-2023 lived abroad ( 3% in Florida, 1% nationally).
- 52% of homebuyers reported a non-White alone race (31% in Florida, 29% nationally).
- 58% of homebuyers spoke a language other than English compared to a minority in Florida (31%) and nationally (23%); Spanish and French were the top non-English languages spoken at home.
- 47% of Broward County homebuyers were 44 years old and under, a higher share compared to Florida (42%) but a lower share compared to the nation (56%).
- 14% of homebuyers had a household income of $250,000 or more ( 10% in Florida, 12% nationally).
Palm Beach County and Martin County: more global, older, wealthier
- 5% of homebuyers who moved to Broward County in 2022-2023 lived abroad ( 3% in Florida, 1% nationally).
- 70% of homebuyers were White only (69% in Florida, 71% nationally).
- 65% spoke only English (69% in Florida, 77% nationally); Spanish, Portuguese, Russian, French, and Haitian were the top non-English languages spoken at home.
- 57% of homebuyers were 55 years old and over (45% in Florida, 29% nationally).
- 58% of homebuyers had incomes of at least $100,000 (50% in Florida, 53% nationally).
St. Lucie County: mainly White, older, not in the labor force
- 3% of homebuyers who moved to St. Lucie County in 2022-2023 lived abroad ( 3% in Florida, 1% nationally).
- 70% of homebuyers were White only (69% in Florida, 71% nationally).
- A larger fraction of homebuyers, 20%, spoke an Indo-European language only English (8% in Florida, 6% nationally). Spanish, French, German, Portuguese, Russian, and Polish were the main non-English languages spoken.
- Only 50% of homebuyers reported to be employed, with a high fraction unemployed (14%) and not in the labor force (36%).
- 60% of households had income of less than $100,000, a higher fraction than in Florida and nationally (50% in Florida, 47% nationally).
