Ever since COVID and the onset of remote/hybrid work, more and more people are rethinking where they want to live. For the past few decades if you wanted to work in finance, law, or any other white collar type job, New York City was the place to be. Especially when you are early in your career and fresh out of college, there hasn’t been a better city to live in outside of New York City.

Living in NYC for almost a decade right after college was one of the best decisions I’ve made. Already had a network of people from college who also lived in the city and it was the best place for me to start a career. However, I quickly realized that as you get older, NYC quickly gets old as well. Sure, it’s an amazing place to go out, have fun, and dine at some of the best restaurants in the country, but once you hit your late 20s or 30s your priorities change.

After living in Miami for some time now, I’d be pretty surprised if Miami doesn’t become, if not already, one of the best places to move to in the country. It’s already happening as thousands of people from NYC and other metro areas of the country have started moving down since COVID started.

COVID changed everything in terms of where people want to live. As work from home has started to gain steam across every company, more and more people are questioning why they want to be home all day in a tiny expensive 50 year old apartment where it’s cold 4-6 months out of the year. Especially when you get older and start having a family.

So what makes Miami so great?

Reasons Why Miami Is Better Than New York City

1. Lower Taxes

If you are trying to build savings overtime, the one expense that most people don’t think about optimizing is taxes. Taxes are the biggest expense for every single person out there in the US.

There is a massive difference in taxes between those who choose to live in New York City (the highest tax bracket of any place in the country) versus those who live in Florida, the lowest tax state in the country.

Just think about the math. If you live in NYC, you will pay ~10%+ more on taxes every year vs. if you lived in Miami. 10% more in taxes for someone who let’s say makes $250K a year is $25K of savings a year. $25K a year of straight savings for just living in a different state!

NYC puts a 3-4% tax on everyone just for living in Manhattan! How crazy is that.

In the scenario above, over the course of 20 years, you save $500K of savings just for choosing to live in Miami. The numbers become even more compelling if you make more money.

2. Better Weather

NYC is not livable from December to April each year. It’s just too cold. Average temperatures range from 20 to 50 degrees during these months. There is a reason why “cuffing” season is a thing starting in the Fall. There is just nothing to do in the winter but work and stay indoors for five months straight.

Miami on the other hand has temperatures that range in the 60s and 70s during the winter. Sure, most people think Miami is too hot and humid in the summer time with temperatures in the mid to high 80s, but practically everyone has a car with A/C and the beach is literally 20 minutes away. As long as you don’t go for long walks in the sun in the middle of the day, it’s really not that bad.

3. Easier Airport Access

In NYC it is a huge pain in the ass to get to any of the three main airports, especially during rush hour. Depending on where you live, it can take over an hour to get to the airport from most parts of Manhattan, even when there is no traffic. And good luck getting to the airport for less than $60 with an Uber/Lyft or less than $80 if you are flying back into the city late at night.

Sure, people say you can just take the subway or train to the airport. But imagine flying back to the city after 8pm or so on any given day with a backpack and your carry-on. Nobody wants to take an hour plus subway ride in the evenings. You’re not going to feel safe by yourself on public transit, especially anytime in the evening or late at night.

On the other hand, the Miami International Airport is a quick 20-minute ride depending on where you live, costing $20 max with an Uber/Lyft. Fort Lauderdale is the other big international airport close to Miami and only takes 30-40 minutes to get to.

4. Less Crowded and Cleaner

NYC is the most-dense city in the country with close to 7 million people living in Manhattan, Brooklyn and Queens combined. Wherever you walk in Manhattan you are guaranteed to see trash bags lining the street or a good old whiff of something that smells gross. It’s just impossible to keep a city that dense clean at all times.

This is how streets typically look in the afternoon every day, which is why there are rats everywhere in the city.

Miami has a population of just 500K people, so it’s much easier to keep the city spotless. Even on New Years Day when everyone was out partying the night before, the government does a really good job cleaning the streets. And trash bags are not allowed to line the streets; buildings keep all the trash in the building for pickup.  

5. Less Homeless

NYC is at the point where at almost every city block there are homeless people just lingering around. It’s become a bigger and bigger problem after COVID and doesn’t seem like city officials are doing much about it.

Miami definitely has its fair share of homeless people as well, but they are never in areas where people usually live. The biggest homeless population I’ve seen so far lingering the streets are concentrated in the Downtown Miami area across the bridge north of Brickell. That part of the city has still not gentrified and most people do not choose to live there, so not really an issue unless you choose to wander over there.

Most people choose to live Brickell, Miami Beach, The Design District, or Edgewater. Homelessness isn’t an issue in any of those places.

6. Safer

Safety in both NYC and Miami really depends on the neighborhood you live in. Most parts of Manhattan are safe as long as you don’t venture into certain areas like parts of the Bronx or deep Brooklyn. Of course, you always hear about some shooting or assault on the subway, but with millions of people living in such close proximity, there’s bound to be something that happens every now and then.

That said, like I mentioned before, you should never take the subway late at night by yourself. You aren’t going to feel safe.

Miami is the same way. As long as you stay away from certain neighborhoods then you’ll be fine. Generally given most people drive cars in Miami vs. in NYC where a lot of people take public transportation, you don’t have to worry about the random subway attacks.  

7. Less Expensive / More Bang for Your Buck

As more and more people have moved down to Miami, the city is getting a lot more expensive than it was back before COVID. But prices are still a whole lot cheaper than living in a similar place in NYC.

You just can’t beat all the amenities that most buildings in Miami offer. Practically every building was built recently over the 10-20 years and has a large pool, a nice gym, 24/7 doormen and parking spaces that you don’t have to pay extra for.

Just look for yourself below. This is one of the nicer buildings in Brickell, but the cost of a 1 or 2 bedroom is a lot cheaper than an apartment in West Village or Tribeca.

8. Good Food and Culture

Hate to admit it, but nothing can beat what NYC has in terms of food and culture. It is one of the most diverse cities in the world where you can find people of virtually every ethnicity and restaurants that are some of the best ever.

Miami has its own unique mix of food and culture with obviously very good Latin America options. Most of the restaurants are located in Miami/South Beach, Wynwood, Brickell, Design District and Coconut Grove – each neighborhood has its own unique vibe.

Nowadays, more and more restaurants from NYC are opening up locations in Miami. Here are the most well-known NYC restaurants that have opened up locations in South Florida:

• Carbone in South Beach
• Joe’s Pizza in Wynwood
• Lucali’s in South Beach
• Dirty French Steakhouse in Brickell
• Cote in the Design District
• Tacombi in the Design District

9. More Outdoor Activities

In my opinion, the biggest negative of NYC is that it is very hard to do anything outdoors aside from eating and drinking without having to commit a big part of your day and spend a lot of money to do so.

• To play tennis, then have to reserve courts in mainly the middle of Central Park and pay $15 per person in advance for just 1 hour of play
• To go hiking, must take an hour plus train north
• To go to the Hamptons, must take a 3-hour train ride all the way to Montauk and spend $1000+ for a weekend in a house with a bunch of people (unless you know someone with a house)
• To lay out in a pool, must be a member of Equinox Printing House to get access to their crowded rooftop pool
• To travel anywhere outside of New York City, you must have a car. Have fun paying $400 per month for parking for a car you barely get to use.

And as I mentioned before, the biggest problem with NYC is that it’s too cold five months out of the year. So good luck doing any outdoor activities during those winter months.

Miami is the complete opposite. There is so much to do outdoors it is just not comparable to NYC.

• Dozens of beaches and state parks within a 20-minute drive
• Free pickleball, tennis and basketball courts all around
• Most condo/apartment buildings have a large pool and jacuzzi
• All the water sports you can imagine
• Best scuba diving nearby in Key Biscayne or anywhere along the Keys
• Numerous neighborhoods to explore

10. Walkable

The problem with most other cities and suburban areas is that everything is so far spread out that you need a car to get around. The one major appeal with NYC is that you can basically walk endlessly for miles and miles around Manhattan. Everything you need and most of your friends are either within walking distance or a quick subway/Uber ride away.

I’ll admit, I always loved walking/running up and down the West Side Highway every day from Tribeca all the way to Chelsea. You always end up to running into people you know and it’s a great place to briefly escape the city.

I was very surprised that in most of the main parts of Miami everything is pretty much walkable. Most New Yorkers who move down to Miami end up living in Brickell because it’s basically a mini version of Manhattan.

Brickell has everything you need within walking distance:

• Restaurants / Bars / Brunch spots
• Gyms (Equinox and LA Fitness)
• Grocery Stores (Publix and Whole Foods)
• Parks (Brickell Key)
• Brickell City Centre (high-end four-story mall)

Even outside of Brickell, every other popular neighborhood that is 10-20 minutes away is very walkable.

Best Neighborhoods To Live In Miami – Ranked

If you are thinking about moving to Miami, you need to think about where you want to live as each neighborhood offers a different vibe just like in NYC.

Here’s a list of the top neighborhoods to move to Miami:

1. Brickell

If you are from a big city like NYC or San Francisco where you are used to walking everywhere to get everything you need, then Brickell is the spot to move to. It’s the most expensive neighborhood to live in Miami, but for good reason. Centrally located, so you can get to any of the good neighborhoods really easily.

It’s a mini-Manhattan, but cleaner, safer and a little fancier. Most firms have their offices here, so if you work in Brickell it also makes sense to live there.

Most people who live in Brickell are in their late 20s to early 40s. You’ll see a lot of baby strollers around town during the day/evening.  

2. Midtown / Design District

Compared to Brickell, Midtown / Design District it’s a younger crowd of people who are around 25-35 years old. There are a ton of good restaurants / shops here and relatively new apartment buildings with all the amenities that you need just like in Brickell.

If you can’t afford Brickell, then Midtown/Design District is the next place to live. Still pricey, but a little cheaper.

3. Edgewater

Edgewater is up and coming. There is so much construction going on right now with new high rises being built left and right. Not much else going on and not really walkable since there is nothing but high rises really. However, it’s walking distance to Wynwood/Midtown where all the restaurants and clubs are at and a short 10-minute drive to Brickell.

It’s cheaper to live here and the crowd is mostly in their early to late 20s.

4. Miami Beach

People who have lived in Miami longer would probably rate living in Miami Beach higher on this list. It’s walkable, closed to the beach and has everything you need.

My only complaint is that there is a ton of traffic to cross the bridge if your work is in the other neighborhoods. There is also a bit of a touristy vibe depending on where you live in Miami Beach.

5. Coconut Grove

If you have a family and want a bit more space, then Coconut Grove is the place to live. It’s one of the most expensive neighborhoods for single family homes for a good reason. It’s very family friendly and Cocowalk has a ton of good restaurants and shops.

6. Wynwood

Wynwood is up and coming as a place to live primarily because right now it’s mainly seen as a place to have dinner and hit the clubs after. If you are from NYC, you can compare Wynwood to Williamsburg/Bushwick.

Miami – The Next Financial Capital of the US

In summary, Miami is becoming the new hot spot to move to from other big cities like NYC for a good reason. It’s extremely business friendly, charges no state or city taxes, is safer, and overall offers a better quality of life.

Every single major financial firm or law firm has opened/or is likely going to open an office in South Florida. Check out the list today of finance firms that are already in Miami today. If you are tired of living in NYC or San Francisco, then Miami is the next best place to live.