According to a recent ranking by Bloomberg, Miami is the most unequal city in America.
Sarah Ponczek and Wei Lu have updated Bloomberg's yearly list of most unequal cities and Miami has claimed the dubious honor of top spot. Other cities that ranked high include: Atlanta, New Orleans, and New York. To make the list, "Bloomberg ordered large cities – those with populations of at least 250,000 – based on the Gini coefficient."
According to Ponczek and Lu, the story of Miami is a mixed bag. While the city has seen incomes rise for those in the top quintiles of earners, it has shrunk for those in the lowest quintile. The city is becoming more unequal in both directions at the same time, a phenomenon that is only exacerbated by property markets.
Economist Nathaniel Karp described the city's situation this way, "Miami, like most other major cities, wants to nurture higher-skill technology jobs. But what would actually help narrow the inequality gap is a solid recovery in retail, lodging and recreation."
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