Apartments for Rent in Miami, FL
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Living in Miami, FL

Miami residents enjoy Florida’s no income tax status as well as the vibrant entertainment and shopping scene.

With 109 parks, appealing beaches, a great climate that caters to year round outdoor and watersport activities, residents never lack for things to see, do, and enjoy.

However, Miami is not without challenges. Generally, the city’s education system is overcrowded and underfunded. Miami’s growth has caused serious traffic concerns. Though many residents are bilingual, residents who only speak one language can experience communication issues. As one of the wealthiest cities in the country, many residents feel pressure about the cost of living in Miami.

Miami, FL employment & economy

Employment in Miami has stabilized. According to the Bureau of Labor Statistics (BLS), unemployment in Miami in May, 2016, was 5.5%, below the national average of 5.6%. Weekly wages in Miami average $924.00. Significant job growth of 5% has taken place in the financial services sector while construction has seen a strong 8.3% gain. Manufacturing employment has risen 2.6% while government employment has only increased by a modest 0.8%. The professional and business services sector has expanded 2.9% in Miami since March, 2015.

Major Miami Employers

Major employers in Miami include the University of Miami (12,818), American Airlines (11,031), Baptist Health South Florida (11,353), Carnival Cruise Lines (3,500) and Fountainbleau Miami Beach (1,987). Overall, the employment sector has recovered nicely since 2008 with health, education, tourism, and construction leading the way.

Education in Miami, FL

Miami-Dade County Public Schools (M-DCPS) is the nation’s fifth largest school district comprising 392 schools, 345,000 students and over 40,000 employees.

Interestingly, the University of Miami was named most diverse university in the United States in 2015. Florida International University, Miami-Dade College and the New World School of the Arts give testimony to the city’s diverse college and university programs.