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24/7 Wall St: Worst-Run Cities in America

1. Miami, Fla.

Violent crime per 1,000 people: 11.08 (13th highest)
> Poverty rate: 32.4% (5th highest)
> Adult population graduated from high school: 68.2% (4th lowest)
> Credit rating: A2 (stable outlook)
> Population: 400,892

According to a 2011 UBS study, Miami is the richest city in the country and the fourth richest city in the world by domestic purchasing power. However, a 2011 study by the Census Bureau found the Miami metropolitan area also had the second-highest income inequality rate in the nation — probably due to the incredibly high percentage of households living below the poverty line. Despite the city’s wealth, Miami’s median household income of $27,291 is the third smallest among the 100 biggest cities. Its poverty rate of 32.4% is the fifth highest. The city faces a handful of other problems. Only 68.2% of adults have a high school diploma or more — the fourth lowest rate. Also, 22.5% of housing units are vacant, which is the fifth highest percentage. A 2011 Brookings Institute report put Miami among the 20 weakest-performing metropolitan statistical areas in the country with regards to recovering from the recession, due in large part to the crash of its housing market.

(iStock Photo)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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