Education and economy make Miami a dynamic city

by Kerrie Kennedy

A new report released by Point 2 Homes, an international real estate search portal, named Miami as the nation’s 10th most dynamic urban center.

The report, which ranked the 150 most populous cities in the U.S., looked at four different factors: human capital (i.e.: population, immigration and changes in median age); education and culture (increases in higher education degrees, rises in school enrollment and internet subscriptions, and growth in the number of people employed in arts and entertainment); economic activity (GDP, income increases, job opportunities, growth in registered patents, and declines in unemployment and poverty rates) and housing (home price appreciation, increases in building permits and decreases in the number of vacant homes).

Miami, which was 10th overall and 4th in the mid-sized cities category, led in both education and economy. As compared to the 150 other cities in the report, Miami saw the biggest growth in higher education degrees, where it boasted the 5th largest growth in the share of people with a college degree or higher and saw the third largest increase in school enrollment.

Economically, Miami also showed strong numbers, recording the 7th largest increase in median income and the 12th largest in GDP growth among the cities studied.

Progress in these areas means Miami stands out as a city that is consistently innovating and developing, as industrialization is slowly being pushed aside to make room for more tech-focused, entrepreneurial cultures.

According to the study, a city’s population (Miami is ranked 4th in population growth) and median age (the younger the population, the more dynamic—Miami was ranked 45 in median age decrease) are key factors in its potential for success. Three cities in the Miami metro area also stand out as some of the most dynamic in the country. Hialeah ranked 7th in the mid-sized cities category, while Fort Lauderdale took the 12th spot in the small cities category, just ahead of Pembroke Pines.

 

 

 

 

 

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