Miami ranked world's 29th-richest city and U.S.' 4th-richest (Miami Beach: home, purchasing)

[illini84]

On the contrary, the U.S. Census Bureau ranks Miami as the poorest city in the country. Guess it depends on how you figure things.

Richest and Poorest Cities in America - DCJobSource.com

[TannerMan]

^^ In 2004. Im almost positive Ive read Miami ranked 5th now not 1st, not tht its any better but...
The title of this thread should probaly deal with spending power per city not being richest, and like Ive lready said Im also sure this was done accounting the whole metro area not just the city of Miami which gobbles up most of Dade countys impoverishd neighborhoods.

[TannerMan]

New York city if I remember correctly.

[♥♥PRINC3Ss♥♥]

Everybody should know by now...

One thing is the City of Miami and another the Miami metro Area.

The city of Miami is extremely poor and the Miami Metro is rich compared to the rest of the metro areas. Period.

Every big city has ugly areas. Miami is not worse than the rest.

The poorest areas of Miami have been poor for a while, and they are usually small homes built in the sixties or around that time. Most of those homes are in areas close to I-95 and US1 (this is also true for Broward, with some exceptions of course) It's the middle income areas to the West that have been growing (Kendall, Doral, Miami Lakes, Pembroke Pines, Weston for Broward)

[noland123]

Originally Posted by illini84

On the contrary, the U.S. Census Bureau ranks Miami as the poorest city in the country. Guess it depends on how you figure things.

Richest and Poorest Cities in America - DCJobSource.com

That was the 2004 census before the building boom and without a shadow of a doubt, Miami-Dade has a higher median income than $24,000.

[Tjam]

Wikipedia, the free online encyclopedia ranks US metropolitan areas by gross metropolitan product (GMP) : Wikipedia search "city GMP". Miami-Fort Lauderdale-Miami Beach-FL area ranked ranks 11 out of top 20 US metropolitan areas. That's top rank in my view. The wealthy sections of Miami city no doubt contributes a big chunk to that high rating.
New York-Northern New Jersey-Long Island, NY-NJ area ranks at the top.
Gross metropolitan product - Wikipedia, the free encyclopedia

[Tjam]

Also search Wikipedia for "List of cities by GDP". Miami ranks 18 in the world by GDP".
Miami might have the third highest incidence of family incomes below the federal poverty line in the United States, but Miami GDP ranks high, probably partly because of the influx of tourist dollars, sea port activity, upscale housing construction, and what the local rich spends there for their wealthy lifestyle.
The Miami 2.4% annual growth rate places it at #21 among 151 richest world cities and urban areas in 2020. Therefore Miami's poor can have hope, and work hard.

[spattley]

Originally Posted by MiamiVice1985

33139, MIAMI BEACH, is not the wealthiest ZIP in the country. That's HOGWASH.

Compliments of city-data.com
Miami Beach (33139) - Median HOUSEHOLD income in 2005 ... $32,231
Miami Beach (33139) - Median condo/home value in 2005.......$266,048
...
Do some research next time....

Well I think the guy misspoke and meant to say 33109 (not "33139"). 33109 is Miami Beach, but really only represents the bounds of Fisher Island. 33109 is ranked #4 of the wealthiest IRS returns, but when you think about the big picture, it's only 191 people filing with their address there (others are probably snowbirds).

Zip # of returns Income/return Salary/return Taxes paid/return
33109 191 $2,180,105 $533,062 $753,476

I believe that figure, since it's straight from the IRS. There's some really F'd up statistics out there... like I found one from Forbes that had Fisher island with a median household income of $17,592. Sure. That really paints an accurate picture.

Regardless i did look just within FL to get a better idea of nice places to live that have MORE FOLKS making high incomes (not just singers & stars!). I'm not a singer after all! The top 5 FL figures for the IRS were:

city zip #ofret inc/ret salary/ret taxes/ret
Miami Beach 33109 191 $2,180,105 $533,062 $753,476
Tallahassee 32306 53 $749,566 $20,440 $157,185
Fort Lauderdale 33394 35 $565,314 $493,040 $220,467
Palm Beach 33480 6,564 $457,517 $145,612 $137,112
Pensacola 32581 25 $421,040 $475,706 $148,000

All I have to add is Tallahassee apparently has some really fascinating people who aren't working for their money and are well-structured. (low "salary", passive income and low tax exposure) But my best bet is Palm beach... I might not be one of 191, but I bet I could be one of 6564. ... that is, if I stopped spending so much time surfing the internet.

[Wild Style]

I am not shocked by this. There are a lot of wealthy people in Miami. But this really means nothing.Miami also has one of the largest incidents of families living below the federal poverty level. That city is extremely polarized in that way.

Originally Posted by noland123

That was the 2004 census before the building boom and without a shadow of a doubt, Miami-Dade has a higher median income than $24,000.

you can't just look at the median income and think that tells the story. How much has the cost of living increased in relation to the increase in median income.

[big mean bear]

Originally Posted by noland123

That was the 2004 census before the building boom and without a shadow of a doubt, Miami-Dade has a higher median income than $24,000.

I doubt empty condo buildings and illegal central American and Haitian labor made the median income go up much since 2004. I wouldn't be surprised if Miami's median income is rapidly slipping behind the inflation rate at this point. Another reason to doubt this claim is that there has been NO commercial development since 2004 and previous, only residential. The only white collar jobs added to Miami since 2004 are real estate agents and they aren't selling anything.