Population dynamics are changing all over the nation and you might be surprised to see which major metropolitan areas are on the rise and which are struggling.
Quite frankly, the rapidity with which many major American metros are gaining population is startling. According to recently released U.S. Census data, an impressive 40 percent of U.S. metro areas – of which there are 383 – have posted population increases, considering both domestic and international migrants, topping the national average, which currently hovers around 2.4 percent. Even more impressive, 51 metros have doubled the national rate and 13 managed to triple it.
As quickly as some cities are growing, however, others are having less luck convincing outsiders to relocate and current residents to stay.
A Hot Spot for International Migrants
People already in the U.S. might not necessarily being taking a second look at one of Florida’s most popular cities, but that doesn’t mean Miami isn’t still a go-to destination for outsiders moving in.
The U.S. Census Bureau found that between 2010 and 2013, Miami lost approximately 10,000 residents to domestic migration. Many might say this is cause for concern, but those numbers have been greatly offset by the international interest Miami has become known for garnering. Since 2010 and estimated 53,000 international migrants have found their way into the city – second only to New York City – and the trend doesn’t seem likely to slow down.
Gateway to Latin America
It was the financial crisis that first stunted Florida and, ultimately, Miami’s rise to population prominence. When asked about the halted growth by the local Miami Herald, Stan Smith, the director of the University of Florida’s Bureau of Economic and Business Research’s Population Program, claimed that had it not been for the housing collapse, Florida may very well have surpassed New York as the reigning champ.
In recent years, however, Florida, particularly Miami, has gotten back on track. Despite the 10,000 domestic residence who have left the city since 2010, Miami has still seen significant population increases, according to the U.S. Census Bureau.
Brian Bilzin, co-foudning partner of Bilzin Sumberg, a commercial law firm, attributes Miami’s appeal to international migrants and investors to the city’s unique makeup and pace.
“Not only does Miami function as a gateway to Latin America and other domestic and international destinations,” Bilzin writes in the firm’s “New Miami Investment Survey.” “But it offers a range of attributes on which many investors insist, including cultural diversity and a truly desirable quality of life.”