Doral is a very beautiful city, with a very strategic location as it is located just west of the Miami International Airport. But, what’s the cost of living in Doral? Why is it such an attractive city even when economists claim that Doral is an expensive city? Is that true? or is Doral cheap to live?
Doral is a privileged city:
A city constituted since 2003 that has had so many appointments, offering a variety of affordable, modern and luxury homes, is it really one of the most expensive cities?
We are going to use bestplaces.net as our fact-check guide for most of the different stats we will be talking about but we’ll also use other websites to compare some facts. Let’s find out.
The cost of living index used in this table from Bestplaces is based on a US average of 100%. So if Doral is below the line, it means it’s cheaper, and if it’s more than 100%, it’s more expensive. Clearly, you see the overall cost of living in Doral and it’s almost 23 percent higher than the national average. Woah!! For some might not be a surprise but for others it could! How about that for a start.
Coming to groceries, according to this website Doral again beats the other two columns (Florida and USA) with 108 percent. The healthcare in Doral is slightly below but the housing…
Also, the article states the medium home cost is a whopping 42.7% more than the national average. The median home cost, it says, is $362,200 (is this even true in today’s market?)
Even though the table from Bestplaces says the median home cost in Doral is $362,000… these numbers are not correct in today’s market. As you know, I’m very serious about the market updates.
According to the latest data from May the Miami Association of Realtors, the Florida Realtors and the National Association of Realtors, the median price for a single family home in Doral was $848,463 a 37% increase from last year and the median sale price for townhouses and condos is $400,000 in Doral a 27% increase from last year. Statewide, the median price for a single family home was $420,000 up 21.8% from last year and nationwide the median price for a single family home was $414,000 up 14.6% from May 2021.
However, the data from the MLS shows the actual rent for single family home in Doral is stated to be $5,400 in May, and for condos and townhomes, it’s $3,175. Even though the Rent Café website states the average given is $2400, I would say it’s a decent estimate when we say an average for Doral condos only. However, it does not show what type of property they are considering though.
For income, it would be better if we compare apples with apples and not go that far. It will be better if we compare Doral and Miami Dade County wages. That should give you a good idea of the income. Here’s a table from the living wages website for Miami Dade County, and the Zippia.com article is used for Doral.
These are the hourly wages an individual in a household must earn to support themselves. According to the Miami table, a single adult in the county has a living wage of $18.21. Through calculation, the yearly median income in Miami is approximately $35,000 a year.
Let’s come to Doral now.
According to a Zippia.com article, a “good” hourly wage in Doral is $18.27 so the median income is $38,000 but the average is $44,000.
The article from Zippia.com also says, “we can determine a good salary in Doral by looking at the cost of living and comparing it to the national US Average salary. The cost of living is 28% higher than the national average, so a good salary in Doral is anything over $72,076.”
This is backed up by Beaconcouncil’s.com facts about Doral, which said the median income in Doral is $78,204 per year. However, in today’s market we need to take into consideration inflation, right?
This is backed up by Beaconcouncil.com facts about Doral, which said the median income in Doral is $78,204 per year. However, in today’s market we need to take into consideration inflation, right? This might not be enough considering the inflation and rising prices.
According to the same Beaconcouncil.com website, Doral has a Top State corporate income tax of 5.5% and state sales tax of 6%. Which is not that bad compared to other places.
Now, let’s look at the opportunities that are provided in Doral. Beacon Council Miami-Dade stats report shows that there are a variety of jobs according to different skills and talents. These percentages are subdivided as 18.29% of the total percentage is in Sales, 14.53% for Office and Administration, 5.08% in Transportation, and 8.84% in the Finance and Business sector.
It also states that the city has 9,000 established businesses, including several Fortune 500 companies and government headquarters.
The Leading industries in Doral are Wholesalers, Professional Services, Transportation, Warehousing, and Retail. Of these, there are several business establishments, and all of these provide a total number of 55,255 employments in total. That’s something the county can be proud of!
By now you certainly you should have an idea of the cost of living in this great city. Is there any specific that you are looking? What are the must have’s? Is it a strategic geographic location, schools, lifestyle, outdoor activities, entertainment, Doral citizens activities?
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