Boomtown: Miami is Named One of America’s Top Growing Cities
The economic and population growth of Miami drove financial site SmartAsset to consider the city as one of the US’s top growing cities. Magic City ranked fourth in the nation in the study and was the top big city.
Analysts studied government data from 500 cities, and here is how Miami scored in critical metrics:
- A 5-year population change gain of 9.43%
- A 5-year average yearly GDP increase of 3.39%
- A 5-year change in the number of businesses to 8.79%
- A 5-year housing growth rate of 10.11%
- A 5-year shift in average household income to 31% (second highest in the top 10)