Florida has been named the second fastest growing state according to the United States Census Bureau, trailing only Texas. Florida added 327,811 new residents between July 1, 2016 and July 1, 2017, about 900 new residents per day.
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Miami Top Major U.S. City in 2016 For International Immigration
The Miami Metropolitan area was the top major U.S. city market in 2016 for international immigration. The year-over-year growth for the area was 1.1%. Miami is also reportedly the number one U.S. city for foreign born working professionals and those holding college degrees. This influx of immigration has helped bring equilibrium to a market that many thought may have been overdeveloped. This has led to rising housing prices, rising rents, low vacancy rates and rising record employment numbers.
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Miami-Dade County/ Miami Metropolitan Area Sets New Record For Employment
In January 2017, Miami set a new record high for employment as the population continue to rapidly rise. The Miami Metropolitan Area increased by 64,670 people in 12 months, split evenly between Miami-Dade, Broward and Palm Beach Counties. according to new census data. The study was ran from July 1, 2015 through July 1, 2016. The Miami Labor Force, according to the US Bureau of Labor Statistics was 1,360,727 in January 2017, up from 1,333,962 in January 2016. January 2017 also showed 1,291,079 of the 1,360,727 were employed. The total labor force for the Miami Metropolitan Area in January 2017 was 3,100,186. The job sector is led by finance, education and health services, and leisure and hospitality.