Median Miami-Dade incomes climbed 4.6% in 2018. In Broward, they barely budged.
Miami-Dade is getting wealthier.
But as the cost of goods and services here rises alongside incomes, some residents may be getting pushed out.
The median Miami-Dade household pulled down $52,043 in 2018, the most recent year for which Census data is available. That was up 4.6% from the $49,758 median in 2017, and up 18.5% from 2008.
Incomes in Broward and Palm Beach counties also climbed during these periods, though at slower rates. The median Broward household took in $57,200 in 2018, up less than 1% from the $56,702 median of 2017 and an increase of 11% from 2008. The median Palm Beach household earned $61,735, up 2.8% from 2017’s $60,059 level and up 17% from 2008.
Ned Murray, director of the Jorge M. Pérez Metropolitan Center at Florida International University, said there is evidence of demographic shifts due to both in- and out-migration patterns that are contributing to the changes. Miami-Dade’s population growth appears to be slowing — but those who are moving in are proving wealthier.
“We see it playing out in Miami where middle and upper income households have been populating the likes of Brickell, the downtown and Wynwood which, in turn, has increased the city’s overall median household income,” he said in an email.
He continued:
“Geographic mobility is much easier for those with sufficient income to do so. As our prosperity research informs us, the poor remain in concentrated areas in Miami-Dade with few options. That’s why gentrification is especially hurtful in Miami. The other bad news is MDC is continuing to lose working individuals and households to other counties.”
Miami-Dade’s population growth slowed from 1.43% to 0.47% year-on-year — the lowest rate seen since 2010, a year in which the county lost population. In Broward, population growth slowed from 1.43% to 0.99%. In Palm Beach, it fell from 2% to 1.37%.
In other words, population in Broward and Palm Beach is now growing faster than in Miami-Dade.
Overall, Miami-Dade’s population edged up to approximately 2.71 million in 2018, up about 13,000 individuals from the year prior. Broward gained about 19,000 to reach 1.9 million, while Palm Beach County hit 1.45 million, up 19,500 year on year.
Jaap Donath, Beacon Council senior vice president for research and strategic planning, says year-to-year data can often be noisy but that population growth from abroad does appear to be slowing, especially compared with domestic population influxes. In its annual report, the council showed 29 significant company relocations or expansions in Miami-Dade, compared with 24 from abroad. The council did not track country data last year.
Despite the relative gains, the percentage of low-wage workers in the Miami metro area remains high, according to a new, separate study by the Brookings Institution. At 55%, the region has a higher percentage of low-wage workers making up its workforce than any other large U.S. metro. When adjusted for inflation, median annual wages for the region fell from $32,973 to $27,674 between 2008 and 2017, Brookings found. And while a study by the Atlanta Federal Reserve and cited by the Wall Street Journal showed some low-wage workers are now seeing faster wage gains than higher-paid earners, it does not tell the full story. In 2008, the median retail salesperson in Miami-Dade earned $11.10 per hour. By 2018, that figure had actually declined to $10.81. In Broward, it was $11.53 in 2008 and $11.05 in 2018.
Marcela Escobari, senior fellow at Brookings’ Center for Universal Education and a co-author of the report, said a host of factors contribute to the situation, including a shift toward contract labor, market consolidation, and non-compete agreements, though some of the latter have been declared illegal more recently.
“We’re seeing a bifurcation of the economy,” she said. “Some are moving up toward the high end, while others are stuck or are getting shifted toward the low end. And some are leaving the workforce altogether.”
This story was originally published December 31, 2019 at 2:33 PM.
