Poverty Level in Miami, Florida

A 2019 report titled “Toward A More Inclusive Region: Inequality and Poverty in Greater Miami” by Richard Florida and Steven Pedigo draws a picture of entrenched economic inequality in Miami, Florida. According to this report, the city hosts more than thirty full-time resident billionaires – among the highest concentrations globally – as well as deep and widespread poverty, a large workforce who are poorly paid, and a small shrinking middle class. For instance, Dade County in Miami has the second-biggest economic gap in the US between people living above and below the poverty line, with only New York ahead. Miami’s inequality score on the Gini coefficient places the city on par with Colombia and Panama (Florida & Pedigo, 2019). In 2018, Miami had a population of 471,000 people with 40.5 years of median age and a $41,818 median household income. Of the total population, 73,947 (15.7%) people lived below the poverty line, with 27% of households living in poverty and 67% being financially vulnerable (Florida & Pedigo, 2019).

There are various implications of the level of poverty and people living under the poverty line in Miami, with more than two out of five families being “asset poor” (Florida & Pedigo, 2019). It means they lack a satisfactory net worth to survive for more than three months without their normal income. The people living either under or near the poverty line in Miami are more vulnerable to dropping out of school, low academic achievement, abuse and neglect, physical health problems, behavioral and socio-emotional problems, and developmental delays in children.

References

Florida, R., & Pedigo, S. (2019). Toward A More Inclusive Region: Inequality and poverty in Greater Miami. Miami: Florida International University.

US Census Bureau. (2021, March 2nd). Miami-Dade County, Florida. Retrieved from US Census Bureau: https://www.census.gov/quickfacts/fact/table/miamidadecountyflorida/POP060210

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