Disgruntled and discouraged residents are ditching Miami in droves after years of rising living, housing and insurance costs, while billionaires are flocking to it, with the city surpassing New York as the nation’s largest luxury inventory market, according to the latest data by Realtor.com.
A record 10,115 of residents left the so-called Magic City between 2024 and 2025, marking the third-largest population decline among all U.S. counties during that period.
The main culprit was likely the steady drop in international migration that the city has seen in response to the Trump administration’s immigration crackdown…