Miami poised for big growth over next five years: report

Miami /
Apr.April 18, 2016 11:15 AM

Despite signs of a slowdown, a new report shows Miami is one of the country’s biggest boomtowns in terms of household growth.

The report, authored by listing service Realtor.com, said Miami is expected to see the fourth-most growth in the number of households of any city in the U.S. over the next five years.

It says roughly 13,000 new homes are set to begin construction in Miami-Dade County this year, along with the creation of 44,000 new jobs. Both those factors, according to the report, means Miami is growing three times faster than the average rate for the country’s top 100 counties.

Overall, the county’s households are slated to grow by 14.9 percent over the next five years.

The report said Miami’s rapidly redeveloping neighborhoods such as the downtown area and Edgewater are to thank for the county’s explosive growth: new mega-projects like Brickell City Centre, Miami Worldcenter and All Aboard Florida’s MiamiCentral station are all expected to pull in jobs with their office and retail spaces.

At the top of the list is Gilbert, Arizona, the country’s biggest township with 208,453 residents as of the 2010 census. The report said Gilbert is growing 7.6 times faster than the rest of the country, with a 15.9 percent jump in households expected in the next half-decade.

Following Gilbert is Los Angeles, California, with an expected 8.8 percent growth — a relatively fast pace due to its sheer size — and Dallas, Texas, with 14.9 percent. — Sean Stewart-Muniz


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