Developers argue Miami still offers better value despite rising living costs

Developers behind high-rise residential towers in Miami argue that the region’s cost-of-living surge does not diminish its overall appeal versus New York. They note that buyers now prioritize lifestyle factors, premium amenities and the state’s lack of personal income tax, which can outweigh higher per-square-foot prices. Construction remains considerably less expensive in Florida, and recent corporate relocations signal a broader economic shift.

While housing prices and insurance premiums have risen sharply, the executives maintain that long-term appreciation prospects remain strong. They also cite upcoming ballot measures that could lower property-tax burdens for homeowners.