Miami Has Low Home Repair Costs As Storms Increase Insurance
Fortunately for homeowners in Miami, the city has one of the average home repair costs of any in America. It ranks second lowest behind Fort Worth
A new study looks at median home price, median home age, home improvement loan statistics, average contractor rates, and average prices for renovations. Cities were ranked based on a 0 to 100 scale.
*Homes Threatened By Weather
*Miami Unsold Home Inventory Grows
*Older Americans Have Home Risk
Fort Worth had a score of 88.87. Miami’s score was 77.48. The author commented, “While its median house price of $584K is nearly double that of Fort Worth, Miami stands out with the lowest contractor rates in the study at $23.46 per hour. It also leads in home improvement loans per capita, showing its homeowners’ strong interest in renovations.”
Another Florida city which risks hurricane problems was in the top 10. Jacksonville had a score of 72.23, which ranked it 7th. The primary reason was a low median home price of $290,000.
Areas With Hurricanes And Wildfires
Home repair prices have become a large issue across regions which have suffered from climate disasters. Some of the most expensive homes in the US were destroyed during the L.A. wildfires. Many were along the Pacific Coast in Malibu.
Insurance costs for home replacement and repairs have skyrocketed in some weather-threatened cities. In some areas, people cannot get home insurance at all.
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