Miami is experiencing a construction surge unlike anywhere else in the country. With a staggering 90 high-rises currently under construction, the city has more than doubled the number of such projects underway in the entire state of California. This data, compiled from an analysis of buildings over 10 stories tall by a Reddit user, underscores Miami’s rapid transformation.

Key Takeaways:

• Miami’s Dominance: The city’s high-rise construction boom is unparalleled, outstripping even California.
• Urban Centers Lead: Major cities like New York and Miami are at the forefront of vertical growth.
• Regional Disparity: The East Coast, particularly Florida, is experiencing a more robust high-rise market compared to the West Coast.
• Beyond Numbers: While overall numbers are impressive, a deeper analysis considering factors like population density is necessary to fully understand the scale of construction in different regions.

High-Rise Construction: Miami vs. California

In Miami, 90 high-rise buildings are currently underway – second most in the U.S., behind only New York. By comparison, just 44 such buildings are under construction in all California cities combined. Florida has a combined 132 high-rise projects, with Miami leading the charge.

Population Surge and Migration Trends

Florida’s population has soared past 23 million, pinning the state as the third most populous behind California and Texas. For the first time, Florida’s population has hit a record high with slightly more than 23 million residents, according to a report from the state Demographic Estimating Conference. As of April 1 this year, 23,002,597 people have been calling the Sunshine State home.

Florida added nearly 359,000 new residents last year and has been adding between 350,000 and 375,000 people annually for the past decade. The Associated Press reports that this upward trend in population is expected to peak this year and get smaller each following year for the rest of the 2020s, as the final cohort of baby boomers entering retirement gets smaller.

While it’s no secret Florida has been welcoming tons of residents from other states (more than half a million people moved to Florida in 2022 just from New York), the U.S. Census Bureau noted this year that Florida had four of the five fastest-growing metro areas in the country. The Villages came in first, followed by Lakeland-Winter Haven in a close second, while Ocala and Port St. Lucie landed in fourth and fifth.

Miami’s Population Growth and International Migration

Several Florida counties were also named as the fastest-growing, including Polk, Pasco, and Marion. Miami-Dade County had the largest gains in international migration, receiving a net 54,457 migrants from abroad.

Between July 2022 and July 2023, Miami’s population increased by 1.3%, making it the tenth fastest-growing big city (defined as a population above 250,000), according to an Axios analysis. As of July 2023, Miami’s population stood at 455,924, with the wider Miami metro area having a population of 6.1 million as of 2022.

Miami and Tall Building Rankings

Sunny Isles Beach ranks as the 14th tallest city in the U.S., according to a list compiled by the Council on Tall Buildings and Urban Habitat. The list ranks each city by the number of buildings over 150 meters, 200 meters, and 300 meters. Sunny Isles now has 16 buildings over 150 meters, behind Las Vegas (with 18 such buildings) and ahead of Minneapolis (15).

Miami itself (excluding Sunny Isles) ranks third in the U.S., behind only New York and Chicago. Miami has 70 buildings over 150 meters tall. Chicago has 183, while New York has 432. Globally, Hong Kong ranks number one with 661 buildings over 150 meters.

Conclusion

Miami’s construction surge and population growth are transforming the city into a major urban center. The data highlights the significant regional disparity in high-rise construction, with the East Coast, particularly Florida, experiencing a much more robust market compared to the West Coast. As Miami continues to grow and attract new residents, the city’s skyline and urban landscape will undoubtedly evolve, cementing its status as a key player in the U.S. real estate market.