Nearshore Americas

Miami Housing Crisis Drives Out Residents, But LATAM Migrants Keep Coming In

The population of Miami-Dade County, Florida, keeps declining as housing costs rise and employment opportunities deteriorate.

According to the Brookings Institute, which analyzed data from the US Census Bureau, more than 70,000 locals fled the county between 2019 and 2022.

Property prices in Miami have jumped more than 50% since mid-2020. Rents have also risen by 27%, rendering housing unaffordable for a huge percentage of the working population, according to local media sources.

The majority of individuals leaving Miami wind up in Tampa Bay, Atlanta, Orlando or Jacksonville.

Miami is expected to suffer the same fate as San Francisco, which, despite having well-paying jobs, is seeing its population flee to more affordable cities or states.

Miami-Dade County has the highest population of Latin Americans in the US, with its economy being primarily reliant on commerce with the Spanish-speaking region.

The first wave of Latin American immigrants arrived in Miami in the early twentieth century, and the flow has continued ever since. Miami now has a big and diversified Latin American community, including Cubans, Puerto Ricans, Colombians, Venezuelans and Brazilians.

Sign up for our Nearshore Americas newsletter:

“In Miami-Dade County, domestic out-migration in 2021-2022 was only 3,129 less than in 2020-2021, but immigration from abroad rose by 24,062 (from 15,108 to 39,170),” Brookings stated in its report.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

Add comment