Miami, Florida Income Statistics
Miami Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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D
Miami Well below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Miami | Florida Avg | US Average |
|---|---|---|---|
| Median Household Income | $63,579 | $74,580 | $80,455 |
| Median Personal Income | $46,202 | $52,322 | $60,758 |
| Average Yearly Income Growth | 8.9% | 5.4% | 4.8% |
| Six-Figure Earners | 12.9% | 11.6% | 13.9% |
| $200k+ Households | 12.3% | 11.0% | 13.2% |
The median household income in Miami is about 15% lower than in Florida. Income has been growing faster in Miami (8.9%/yr) than in Florida (5.4%/yr).
About 13% of adults in Miami earn six figures ($100,000 or more) a year, higher than the Florida average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Miami, Florida grew by 110.2% from 2009 to 2024, reaching $63,579 in 2024. That's an average of about 8.9% per year.
Miami has stayed well below the U.S. median household income in every year from 2009 to 2024 and has never reached it. The gap has narrowed from 41% in 2009 to 21% in 2024, the closest it has been.
Income Distribution in Miami
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 62,688 households (32.4% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 30.3% of households in Miami had an income under $35,000 and 19.7% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Miami has a larger share of households earning $10,000 to $14,999 (7.4% vs 3.5%) and a smaller share earning $100,000 to $149,999 (12.7% vs 17.4%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 12,867 | 6.6% | 5.1% |
| $10,000 to $14,999 | 14,323 | 7.4% | 3.5% |
| $15,000 to $24,999 | 17,460 | 9.0% | 6.4% |
| $25,000 to $34,999 | 13,936 | 7.2% | 6.7% |
| $35,000 to $49,999 | 22,606 | 11.7% | 10.1% |
| $50,000 to $74,999 | 29,548 | 15.3% | 15.5% |
| $75,000 to $99,999 | 20,207 | 10.4% | 12.6% |
| $100,000 to $149,999 | 24,529 | 12.7% | 17.4% |
| $150,000 to $199,999 | 14,314 | 7.4% | 9.5% |
| $200,000 or more | 23,846 | 12.3% | 13.2% |
Shares are of all 193,634 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 50,457 residents (12.9% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 15.0% of residents who have any income.
In 2024, 14.0% of Miami residents aged 15 and over reported no personal income, 33.5% had some income but less than $25,000, and 18.4% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Miami has a larger share of residents earning $10,000 to $14,999 (10.6% vs 7.0%) and a smaller share earning $50,000 to $74,999 (10.9% vs 14.3%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 55,059 | 14.0% | 12.8% |
| $1 to $9,999 | 41,233 | 10.5% | 11.2% |
| $10,000 to $14,999 | 41,600 | 10.6% | 7.0% |
| $15,000 to $24,999 | 48,634 | 12.4% | 10.5% |
| $25,000 to $34,999 | 39,827 | 10.1% | 9.5% |
| $35,000 to $49,999 | 51,110 | 13.0% | 12.6% |
| $50,000 to $74,999 | 42,685 | 10.9% | 14.3% |
| $75,000 to $99,999 | 21,822 | 5.6% | 8.2% |
| $100,000 or more | 50,457 | 12.9% | 13.9% |
Shares are of the 392,428 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 14.0% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Miami
| Metric | Miami | Florida Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.576 | 0.551 | 0.552 |
| Male Median Income | $52,652 | $60,595 | $69,667 |
| Female Median Income | $46,312 | $50,762 | $56,850 |
| Gender Pay Gap | 12.0% | 16.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Miami, it is 0.576, higher than Florida's 0.551, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 14% more than women's income in Miami, Florida. Over a 35-year career, a 14% wage gap accumulates to roughly $221,900 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Miami, Florida has widened from about 10% to 12% in 2024. Over that period the gap was widest at 14% in 2010. In dollar terms, the gap has widened by $3,510 since 2009.
Against the trend: the pay gap in Miami widened by 2.2 points while Florida's narrowed by 2.5 points.
Employment
| Metric | Miami | Florida Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.2% | 4.8% | 5.2% |
| Working from Home | 16.1% | 15.7% | 15.0% |
| Commute time (minutes) | 23 | 23 | 22 |
Approximately 13,586 people are unemployed in Miami, Florida.
The average commute time in Miami is 23 minutes, about the same as in Florida.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Miami, Florida has fallen from 10.8% to 5.2% in 2024. Over that period the rate peaked at 13.2% in 2013 and fell as low as 5.0% in 2023.
Miami started 2.2 points above the U.S. unemployment rate in 2011 but had dropped below it by 2022, and has not been above it since. In 2024 the two were level.
Miami, FL Wealth Compared With Nearby Cities
How Miami, FL compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Miami, FL | 456,657 | $63,579 #2/2 | 8.9%/yr #1/2 | 5.2% #2/2 | 0.576 #2/2 |
| Miami Beach, FL | 64,801 | $73,804 | 5.7%/yr | 4.8% | 0.545 |
Conclusion
Considering all these factors, Miami, Florida has an overall wealth index grade of D, making it somewhat worse than Florida, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Miami, Florida.
How Rich Is Miami, Florida?
Miami has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $63,579, about 15% lower than the Florida average of $74,580.
How fast is household income rising in Miami, Florida?
Between 2009 and 2024, the median household income in Miami, Florida rose 110%, from $30,242 to $63,579. Over the same years, income here outpaced Florida as a whole: +110% against +57%.
What was the median household income in Miami in 2023?
In 2023, the median household income in Miami, Florida was $59,387, up 9% from $54,615 in 2022. The Florida median that year was $71,864.
What was the median household income in Miami in 2020?
In 2020, the median household income in Miami, Florida was $44,343. By 2024 it had risen 43% to $63,579.
What is the Gini coefficient in Miami, Florida?
The Gini coefficient in Miami is 0.576. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Miami, Florida?
Since 2009, the income gap between men and women in Miami, Florida has widened from about 10% to 12% in 2024. Over that period the gap was widest at 14% in 2010. In dollar terms, the gap has widened by $3,510 since 2009.
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