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<br />New condominium costs in Sunny Isles Beach are increasing greatly, which is <br />consistent with beachfront development in south east Florida, However, according to <br />2000 US Census, the median household income for Sunny Isles Beach was $31,627, <br />which is considerably less than the US median household income of $41,994, as <br />indicated in Table 3,11. <br /> <br />Table 3.11 <br />Household Income in 1999 <br /> <br />Household Income Number <br />Less than $10,000 1,174 <br />$10,000 to $14,999 685 <br />$15,000 to $24,999 1 ,483 <br />$25,000 to $34,999 1,149 <br />$35,000 to $49,999 1,184 <br />$50,000 to $74,999 1,271 <br />$75,000 to $99,999 473 <br />$100,000 to $149,999 378 <br />$150,000 to $199,999 156 <br />$200,000 or more 280 <br />Median Household Income $31,627 <br /> <br />Source: US Census 2000 <br /> <br />The low median household income in Sunny Isles Beach in 2000 was greatly due to a <br />large number of seniors within the community, as indicated in Table 3.12 on the <br />following page, However, a lack of affordable housing has not greatly affected these <br />residents, Many purchased their homes 20 to 30 years ago, when prices were much <br />lower. They have held on to these homes and have not been negatively affected by the <br />soaring real estate prices, <br /> <br />City of Sunny Isles Beach - <br />2005 Evaluation and Appraisal Report <br /> <br />Rev. 9/15/2005 <br />Page 59 <br />