Miami is Florida's second most populous city. Miami is also the
second largest US city with a Spanish speaking majority, which accounts for its nickname of "the capital of Latin America."
Industries with the largest influence in Miami include commerce, finance, and international business. Miami is home to the
headquarters of many large businesses including Burger King, US Century Bank, Caribbean Cruise Lines, and World Fuel Services. The
port of Miami is one of the nation's busiest ports and contributes $18 billion to the city's economy. The largest employers in
Miami are Miami-Dade County Public Schools, Miami-Dade County, United States Government, Florida Government, University of Miami,
and Baptist Health South Florida.
Miami is in South East Florida. It's population as recorded in
the 2010 Census was 399,457.
The median age for residents of Miami is 38.8. Around 27.3% of Miami households include school
aged children and 29.9% of households include individuals aged 65 years or over. Census records indicate 72.5% of the Miami
population are White, 19.2% are Black or African American, .2% American Indian, .9% Asian and 2.6% are Two or more Races. Miami has
a significant Hispanic population. 69.9% (279,456) of Miami residents are of Hispanic or Latino origin. Of these 2.08% are of
Mexican origin, 4.57% Puerto Rican, 49.13% Cuban and 44.2% are of other Hispanic or Latino origin.
There are 183,994 housing
units in Miami. 25,677 (13.9%) of these were reported as vacant in the 2010 Census. There are 118,493 residential rental units in
Miami. 107,131 of them were occupied in 2010 providing a residential rental vacancy rate of 9.2%.
The median household income in this part of Florida is $42,759.
The bottom 10% of the population earn less than $13,235 per year.
The top 10% earn more than $147,573 per year. The top 1%
earn more than $536,049 per year.
Most renters earn
between $23,844 (20th percentile)
and $42,888 (80th percentile) per year.
The median monthly rent in this part of Florida is $967.
Most renters earn
and $3,574 per month.
They typically spend 40% of their monthly income on rent.
Most rents fall in the $662 (20th percentile)
to $1,396 (80th percentile) range.
The residential vacancy rate is 5%.