A team of researchers at Citylab, an urban research think-tank, have concluded that Miami has the fastest-growing job market of any major U.S. city.
The report is based on an analysis of Census data between 2012 and 2017, and focuses on America’s 50 largest cities rather than metro areas. The study’s author, Richard Florida, wrote that Miami is “perhaps the biggest surprise” on the list: No other city came close to its 24.1% job growth during this period.
Citylab states that the fastest-growing cities are growing ten times faster than the slowest-growing ones. Furthermore, seven of the top ten cities (Miami included) overlap with the top ten cities by population growth. Miami’s population grew 12% in this period, following only Seattle, Austin, and Forth Worth. This overlap confirms a broader trend away from cold-weather cities and toward warmer “Sunbelt” locations and expensive tech hubs, the report says. Denver, Washington, D.C., and Raleigh also made the top 10 in terms of population growth, while cities like Detroit, Baltimore, and Milwaukee all saw a decline in population.
The study also points out that “superstar cities” like New York, LA, Boston and San Francisco failed to break the top 10. New York ranked 36th with only 9.1 percent job growth.
Citylab’s report confirms what those of us in South Florida have been experiencing on the ground for years. ComReal has been leading the region’s development since 1979, and with immense new opportunities in retail, office, warehouse, and other commercial spaces, there has never been a better time to invest in South Florida. We can be your guide.