Bay Harbor Islands, FL is a small town located in Miami-Dade county. It offers a great quality of life for its residents as it has numerous amenities like white sandy beaches, numerous parks and great shopping locations throughout the town. It also has some of the most affordable rental rates in Miami-Dade County with two bedroom apartments renting out at $2,490. Additionally, Bay Harbor Islands has a higher than average grocery cost index compared to the rest of the US at 115 versus 100. The city is home to several local companies such as the Bal Harbour Shops Shopping Center, BHS Development Corporation and Bay Harbor Islands Town Hall which all serve to benefit the local economy and community.
Bay Harbor Islands has an unemployment rate of 8.2%. The US average is 6.0%.
Bay Harbor Islands has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Bay Harbor Islands
- The Sales Tax Rate for Bay Harbor Islands is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Bay Harbor Islands is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bay Harbor Islands
- The average income of a Bay Harbor Islands resident is $44,498 a year. The US average is $28,555 a year.
- The Median household income of a Bay Harbor Islands resident is $79,824 a year. The US average is $69,021 a year.