The city’s median home value of $245,000 is well above the national median of $181,200. However, with a median household income of only $31,917 a year, well below the national median of $53,657, most of these homes are either out of reach or a financial burden on most Miami residents. Like most of the worst cities to live in, more than one in every four people in Miami live in poverty.
According to recently released research from the nonprofit think tank the Economic Policy Institute, the top 1% of earners in the Miami metro area make about $2 million annually, 45 times greater than the average income of the other 99% of earners. This earnings gap makes the metro area nearly the most unequal of any U.S. city.
Citywide violence is closely associated with a range of negative social and economic outcomes, including incarceration, unstable employment, lower cognitive functioning among children, and anxiety. A disproportionately large portion of Miami residents likely experience some of these outcomes as the city’s violent crime rate, at 1,060 incidents per 100,000 people, is several times higher than the national rate.
According to recently released research from the nonprofit think tank the Economic Policy Institute, the top 1% of earners in the Miami metro area make about $2 million annually, 45 times greater than the average income of the other 99% of earners. This earnings gap makes the metro area nearly the most unequal of any U.S. city.
Citywide violence is closely associated with a range of negative social and economic outcomes, including incarceration, unstable employment, lower cognitive functioning among children, and anxiety. A disproportionately large portion of Miami residents likely experience some of these outcomes as the city’s violent crime rate, at 1,060 incidents per 100,000 people, is several times higher than the national rate.
