patrickbdevaney/mia9 · Datasets at Hugging Face

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Please note that because the South Florida region is part of the
Metropolitan Statistical Area of Miami-Fort Lauderdale-Pompano
Beach, much of the available data is for the Metropolitan Area is
referred to as the “Miami Metro Area” which is comprised of MiamiDade, Broward, and Palm Beach counties.
• The Miami Metro Area had the fastest over-the year job growth
rate among Florida’s metro areas in August 2022 (+7.9%)
• The Miami Metro Area gained the highest number of private
sector jobs among Florida’s metro areas in August 2022, adding
82,500 jobs
• The Miami Metro Area’s nonagricultural employment
increased by 80,400 jobs (+6.8% over the year)
• The Miami Metro Area’s unemployment rate dropped 2.8
percentage points over the year to 2.3%
• Industries gaining the most jobs in the Miami Metro Area over
the year were as follows:
o Trade, transportation, and utilities with 26,300 jobs
o Leisure and hospitality with 15,700 new jobs
o Education and health services with12,000 jobs
o Professional and business services with 11,900 new jobs3
• According to the U.S. Bureau of Labor Statistics from August
2021 – July 2022, the Civilian Labor Forces for each county grew:
o by 10,089 persons in Miami-Dade
o by 34,769 persons in Broward County
o by 4,512 persons in Monroe County
https://biznews.fiu.edu/2018/05/study-reveals-small-businesses-strength-in-miamidade-countys-economy/
https://www.caribbeannationalweekly.com/community-news/broward-countyprovides-small-business-assistance/
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SFRPC Area & National Unemployment
SFRPC Area Median Listing Prices
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The extremely low August 2022 unemployment rate of 2.3% in MiamiDade County, 2.8% in Broward County, and 1.7% in Monroe County,
combined with the high cost of housing, transportation, and inflation,
makes it challenging for employers to find employees to fill vacant
positions.
The most significant economic challenge facing the South Florida
economy is affordability. The Consumer Price Index (CPI) as of August
2022 was up 8.3 percent4 for the U.S. with a 10.7 percent increase in the
Miami - Fort Lauderdale - Pompano Beach MSA over the past year.5
Items such as food have increased 11.4 percent over the last year (July
2021 – August 2022) and energy has risen 23.8% during this same
period nationally.6
Housing is one of the largest household budget costs followed by
transportation. On June 29, 2022, Miami-Dade County was deemed the
epicenter of the country’s housing crisis” by the U.S. Secretary of
Housing and Urban Development.
The housing crisis extends to neighboring Monroe and Broward
counties as well. The Median Sale Listing Price in Monroe County is
presently over $1.28 million; $674,000 in Miami-Dade County; and
nearly $525,000 in Broward County7 making housing unaffordable to
many South Florida residents.
Rental prices have skyrocketed. Rentcafe, a nationwide internet listing
service providing apartments and houses for rent throughout the
United States, named Miami as one of the most competitive rental
markets in the country. Rentcafe recorded the average rent in Miami at
$2,307 with an average apartment size of 887 Square Feet as of July
2022.
Liberty City Square Redevelopment Project, Miami-Dade County
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Using the previous example, a yearly rental of $27,684 represents 47%
of Miami-Dade’s Median Household Income (MHI), which was $59,259
in 2020. In Fort Lauderdale, the average rent is $2,719 with an average
apartment size of 959 Square Feet as of July 2022. Broward County’s
2020 Median Household Income was $68,584. Therefore, the average
rent equivalates to a housing cost of 51% of the Median Household
Income; 21% over the U.S. Department Housing and Urban
Development affordability standard of 30% of household income.
In Monroe County, Rentcafe data is not available, but Rent.com, a
similar listing service, reports an average one-bedroom rental in Key
West at $2,500 per month. This is nearly 44% of Monroe County’s
Median Household Income.
The housing crisis stems from a confluence of factors including limited
availability of land, high demand from Latin American investment
buyers, large numbers of employees in low-wage industry sectors such
as Hospitality & Leisure, and people relocating from higher priced
states for remote work opportunities. Limited land for development,
rising construction costs, and skyrocketing insurance prices pose
additional challenges for the construction of middle-class housing.
Wages and compensation are increasing in the Miami Metro Area, but
not at the same pace as inflation. In June 2022 the U.S. Bureau of Labor
Statistics placed the Miami Metro Area second in the U.S. for its annual
increase for total compensation as well as wages and salaries.
However, the annual increase in compensation is not sufficient to
overcome the rate of inflation. For the regional economy to sustain its
growth, it must devise strategies and solutions to address its high
housing and other costs of living.
Source: DEO, Retrieved 9/22/2022, https://floridajobs.org/workforce-statistics/workforce-statistics-data-releases/latest-statistics
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FACT SHEET & MAPs
South Florida Region
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Broward County
10 \| Page
Miami-Dade County
11 \| Page
Monroe County
12 \| Page
Higher Education Institutions
13 \| Page
Major Features of the South Florida Region
14 \| Page

Please note that because the South Florida region is part of the

Metropolitan Statistical Area of Miami-Fort Lauderdale-Pompano

Beach, much of the available data is for the Metropolitan Area is

referred to as the “Miami Metro Area” which is comprised of MiamiDade, Broward, and Palm Beach counties.

• The Miami Metro Area had the fastest over-the year job growth

rate among Florida’s metro areas in August 2022 (+7.9%)

• The Miami Metro Area gained the highest number of private

sector jobs among Florida’s metro areas in August 2022, adding

82,500 jobs

• The Miami Metro Area’s nonagricultural employment

increased by 80,400 jobs (+6.8% over the year)

• The Miami Metro Area’s unemployment rate dropped 2.8

percentage points over the year to 2.3%

• Industries gaining the most jobs in the Miami Metro Area over

the year were as follows:

o Trade, transportation, and utilities with 26,300 jobs

o Leisure and hospitality with 15,700 new jobs

o Education and health services with12,000 jobs

o Professional and business services with 11,900 new jobs3

• According to the U.S. Bureau of Labor Statistics from August

2021 – July 2022, the Civilian Labor Forces for each county grew:

o by 10,089 persons in Miami-Dade

o by 34,769 persons in Broward County

o by 4,512 persons in Monroe County

https://biznews.fiu.edu/2018/05/study-reveals-small-businesses-strength-in-miamidade-countys-economy/

https://www.caribbeannationalweekly.com/community-news/broward-countyprovides-small-business-assistance/

5 | Page

SFRPC Area & National Unemployment

SFRPC Area Median Listing Prices

6 | Page

The extremely low August 2022 unemployment rate of 2.3% in MiamiDade County, 2.8% in Broward County, and 1.7% in Monroe County,

combined with the high cost of housing, transportation, and inflation,

makes it challenging for employers to find employees to fill vacant

positions.

The most significant economic challenge facing the South Florida

economy is affordability. The Consumer Price Index (CPI) as of August

2022 was up 8.3 percent4 for the U.S. with a 10.7 percent increase in the

Miami - Fort Lauderdale - Pompano Beach MSA over the past year.5

Items such as food have increased 11.4 percent over the last year (July

2021 – August 2022) and energy has risen 23.8% during this same

period nationally.6

Housing is one of the largest household budget costs followed by

transportation. On June 29, 2022, Miami-Dade County was deemed the

epicenter of the country’s housing crisis” by the U.S. Secretary of

Housing and Urban Development.

The housing crisis extends to neighboring Monroe and Broward

counties as well. The Median Sale Listing Price in Monroe County is

presently over $1.28 million; $674,000 in Miami-Dade County; and

nearly $525,000 in Broward County7 making housing unaffordable to

many South Florida residents.

Rental prices have skyrocketed. Rentcafe, a nationwide internet listing

service providing apartments and houses for rent throughout the

United States, named Miami as one of the most competitive rental

markets in the country. Rentcafe recorded the average rent in Miami at

$2,307 with an average apartment size of 887 Square Feet as of July

2022.

Liberty City Square Redevelopment Project, Miami-Dade County

7 | Page

Using the previous example, a yearly rental of $27,684 represents 47%

of Miami-Dade’s Median Household Income (MHI), which was $59,259

in 2020. In Fort Lauderdale, the average rent is $2,719 with an average

apartment size of 959 Square Feet as of July 2022. Broward County’s

2020 Median Household Income was $68,584. Therefore, the average

rent equivalates to a housing cost of 51% of the Median Household

Income; 21% over the U.S. Department Housing and Urban

Development affordability standard of 30% of household income.

In Monroe County, Rentcafe data is not available, but Rent.com, a

similar listing service, reports an average one-bedroom rental in Key

West at $2,500 per month. This is nearly 44% of Monroe County’s

Median Household Income.

The housing crisis stems from a confluence of factors including limited

availability of land, high demand from Latin American investment

buyers, large numbers of employees in low-wage industry sectors such

as Hospitality & Leisure, and people relocating from higher priced

states for remote work opportunities. Limited land for development,

rising construction costs, and skyrocketing insurance prices pose

additional challenges for the construction of middle-class housing.

Wages and compensation are increasing in the Miami Metro Area, but

not at the same pace as inflation. In June 2022 the U.S. Bureau of Labor

Statistics placed the Miami Metro Area second in the U.S. for its annual

increase for total compensation as well as wages and salaries.

However, the annual increase in compensation is not sufficient to

overcome the rate of inflation. For the regional economy to sustain its

growth, it must devise strategies and solutions to address its high

housing and other costs of living.

Source: DEO, Retrieved 9/22/2022, https://floridajobs.org/workforce-statistics/workforce-statistics-data-releases/latest-statistics

8 | Page

FACT SHEET & MAPs

South Florida Region

9 | Page

Broward County

10 | Page

Miami-Dade County

11 | Page

Monroe County

12 | Page

Higher Education Institutions

13 | Page

Major Features of the South Florida Region

14 | Page