By Gay Cororaton, MIAMI REALTORS Chief Economist
Key takeaways:
- Population rose at a faster pace than nationally in the Tri-County area due to net international migration.
- Miami-Dade had the largest net international migration; Broward County was 5th largest; Palm Beach County was 13th
- In St. Lucie County, net domestic migration drove the growth in population.
Read the Southeast Florida County Population Trends 2010-2024 Report HERE.
Population increased at faster pace than nationally (1%) during July 1, 2023 to July 1, 2024 in Miami-Dade (2.3%), Broward (1.7%), Palm Beach (1.6%), and St. Lucie (3.9%), according to the latest US Census Bureau Vintage 2024 Population Estimates.
Miami-Dade County’s population rose to 2.84 million people, an increase of 64,211 people, the second largest numeric increase among 3,114 counties. Miami-Dade County’s population rose 2.3%, outpacing the national population growth by 1.0%.
Miami-Dade County’s net international migration of 123,835 was the highest in the nation. Broward County had the 5th largest net international migration in the nation (+56,567). Palm Beach County had the 13th largest net international migration (32,825). Martin County also posted a net international migration (1,183) as well as St. Lucie (3,223). These are also the rankings in 2023.
In St. Lucie County, net domestic migration drove the increase in population. Its domestic migration of 11,645 people was the 13th largest of 1,601 counties that had positive domestic migration (51% of 3,144 counties). In the state of Forida, St. Lucie was 6th out of 55 counties with a positive net domestic migration (82% of 67 counties).
On average, a net of 155 people moved to Miami-Dade County per day, the second highest in the nation; in Broward County, 83 people/day; in Palm Beach, 69 people/day; in St. Lucie, 41 people/day; and in Martin, 7 people/day.
The 2024 International Homebuyer Transactions of MIAMI Realtors® reported that Florida is the top destination of foreign buyers, accounting for 20% of all foreign buyers nationally. The Miami-Fort Lauderdale-West Palm Beach metro area accounts for 49% of Florida’s foreign buyer market, with buyers coming from 49 countries, led by Argentina, Colombia, Canada, Brazil, Mexico, and Venezuela. Foreign buyers accounted for 10% of Southeast Florida’s market compared to 2% nationally. Foreign Buyers & Market Update – MIAMI REALTORS®
