By Max Klaver
Of the U.S.’s 10 largest metropolitan areas, greater Miami residents are among the least able to save their earnings.
The average South Floridian spends roughly 77% of their pre-tax income, according to 2023 data from the U.S. Bureau of Labor Statistics, the agency’s most up-to-date statistics. Only the residents of greater Houston and Phoenix are, on average, less able to save than their Miami counterparts.
It figures. Since the pandemic, out-of-state wealth has flooded into Florida, and particularly greater Miami, whose population of millionaires nearly doubled between 2014 and 2024. That influx of money has driven up local prices, especially for housing.
Read more at: https://www.miamiherald.com/news/local/article309945955.html#storylink=cpy
