Despite reports of an influx of out-of-towners, Miami-Dade County lost population since the summer of 2020, according to new U.S. Census data.
At the same time, a fresh report shows surging housing rental prices have caused Miami metropolitan area residents to become the most burdened by rent in the nation.
Between July 1, 2020, and July 1, 2021, Miami-Dade saw a decline of nearly 30,000 people, to fall to a population of 2.66 million, according to the census figures released Thursday. It’s the second consecutive year of declining population for Miami-Dade. The county’s population peaked in 2019 at more than 2.7 million.
The Census Bureau does not explain what might have led to the population declines, and its year-end 2021 figures for cities like Miami haven’t been released.
But on Thursday, Realtor.com said home rents in the Miami metro area had climbed more than 55% year-over-year as of February — the greatest annual spike for any U.S. city. Given the latest federal data of median household income, Miami now ranks as the least affordable region in the country, with the typical tenant paying a staggering 59.5% of monthly household income to pay rent. As Realtor.com notes, the federal housing department considers affordable rent to cost 30% of household income, and anything more to be unaffordable.
Meanwhile, Broward also lost population for the second straight year, falling by more than 10,000 individuals to 1.93 million, after likewise having peaked in 2019 at more than 1.95 million.
However, Palm Beach County recorded population growth of more than 5,000 during the 2020-2021 period, to 1.49 million.
Regarding rents, Realtor.com said that sharply increasing prices in Miami are “partially due to an increasing proportion of luxury rental properties listed in February 2022.” Even without that luxury rental housing, Miami is still among the top cities with least affordable rental properties, Realtor.com said.
Also, the new Census data show an acceleration in the rate of individuals leaving Miami-Dade versus entering it. From July 2019 through July 2020, there was a net departure of more than 10,000 individuals from the county. Over the next year through July 2021, that figure climbed to nearly 45,000. Similarly, Broward saw a net of more than 3,000 individuals leave in that 2019-2020 period and more than 17,200 people exit in the next year.
Overall, Florida saw a population gain during the latter annual period, growing by more than 211,000 to 21.78 million people.
The Tampa metro area saw the largest net domestic-migration gain among all U.S. metros, its population swelling from July 2020 through July 2021 by more than 36,000 people, to more than 3.2 million. Florida metro areas also accounted for four of the 10 fastest-growing metros in the U.S. during that stretch: Punta Gorda, up 3.7% in residents; The Villages, 3.6%; Lakeland-Winter Haven, 3.3%; and Cape Coral-Fort Myers, 3.0%.
And Polk and Lee counties accounted for two of the 10 highest-growth counties nationwide. Polk’s population climbed by more than 24,000 to 753,520, while Lee grew by more than 23,000 to 787,976.
The new Census data can be downloaded at www2.census.gov/programs-surveys/popest/datasets/2020-2021/.
