- Miami placed 11th in the Porch/Redfin Best Place to Own a Home in America study.
- The real estate confidence score was 50th, and the lowest mark on Miami’s scorecard.
- Miami ranked highly in walkability and tax fairness.
Perhaps the Golden Girls were on to something.
Fans of the late ’80s and early ’90 sitcom may remember four single ladies of a certain age sharing a home they owned in Miami.
According to a survey of homeowners that was conducted this summer by home renovation matching service Porch and real estate firm Redfin, Miami was rated just out of the top 10 for best place to own a home — 11th out of 67 cities that were ranked.
“Residential developments are popping up across the city due to a strong housing market,” Miami Redfin agent Cecilia Cordova said in the report. “The area offers plenty of restaurants, shops and public transit options. Also, you don’t have to pay income tax if you live in Florida!”
Miami rated highest in walkability and lowest in real estate confidence. It was above average in tax fairness, healthy living and climate, and below average in security and safety.
The poll asked 9,923 U.S. homeowners questions in 31 quality-of-life dimensions including safety, climate, commute times, access to education, taxes and real estate trends. Redfin real estate agents added local knowledge about some of the cities discussed in the results.
It’s possible that one of the Golden Girls completed the survey: The largest percentages of interviewees were white, female, and between the ages of 55 and 64.
The survey was one of homeowners perceptions, which some say would introduce bias into the analysis. People think more highly of the place where they live because they’ve made a choice and often a substantial investment in order to live there. But, the pollsters said the Porch/Redfin study is consistent with other external data they’d reviewed.
But, for the health of the real estate market in a particular city, that information is crucial. Those gut feeling influence whether they remodel, what kinds of remodeling projects they do, and whether they decide to buy or sell a home.
For Miami, though, the real estate confidence score was 50th, and the lowest mark on Miami’s scorecard. The city’s highest scores were in walkability and tax fairness.
With a hot real estate market with rising prices and below-average inventory, it’s no wonder that residents show concern about the housing market. Distressed properties still cloud the horizon, leaving many to wonder about when that smoke will clear, and how much of a role international investors will continue to play in scooping up properties in the highest and lowest tiers.
Porch is a network where homeowners can connect with contractors to get work done.
Redfin is a real estate brokerage that represents buyers and sellers. It operates in 32 states, and is known for charging a 1.5 percent commission to its sellers.