The Doral
area is known for being a stable and growing city. It is close to Miami and
within driving distance to most popular Florida attractions. The low
unemployment rate and plentiful job market help to keep the Doral real estate
market healthy. Unemployment in the Doral area is below state and national
averages making Doral a stable and thriving community. The area has several
major employers which employ approximately 150,000 workers. Univision, CBS 4,
Telefutura, Pepsi, Carnival Cruise lines and over 500 banks and hotels make
Doral their home.
According to
the latest statistics, Doral rates above both Florida and the United States for
employment and per capita income. Per capita income in Doral is approximately
$8,000 higher than the national average, and $7,000 higher than the state
overall average. The poverty level in Doral is also lower than the national and
state at 11.7%. The following table
from AreaVibes.com shows a breakdown of the local,
state and national averages.
Index
|
Doral
|
Florida
|
National
|
Income
per capita
|
$34,077
|
$27,496
|
$26,505
|
Median
household income
|
$65,264
|
$49,795
|
$54,595
|
Median
household income owner occupied
|
$81,246
|
$55,981
|
$63,664
|
Median
household income renter occupied
|
$51,498
|
$36,096
|
$35,685
|
Median
earnings male
|
$47,755
|
$33,796
|
$38,921
|
Median
earnings female
|
$31,136
|
$22,485
|
$23,115
|
Poverty
level
|
11.7%
|
13.1%
|
12.3%
|
These
numbers help to make the Doral real estate market stable. More people are
moving into Doral than any other city in the Miami/Dade area. Full time workers
comprise 85% of the work force. Wholesale and retail services are the largest
employers with financial and insurance coming in second. Third place for
employment in Doral is transportation, warehouse , and utilities. The majority of households earn between
$60,000 and $100,000. The median age of Doral residents is 35 making Doral a
young and vibrant community.
While the
real estate market in Doral has experienced a drop in home values (like the
rest of the country) it is showing signs of improvement. Home values have risen
5% from June of 2011 to June of 2012. In June of 2011 the median home value in
Doral was $220,000. In June of 2012 the median home values rose to just over
$230,000. While home value is a good indication of the health of an area’s real
estate market, list prices are what home buyers and sellers have to contend
with. In June of 2011 the average home list price was $275,000. A year later
the average list price was $312,900.
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