"Six years after the pandemic reshaped the American map, the exodus from the nation's largest coastal cities has not only persisted but also evolved to include a former boomtown. According to a January 2026 report from the Bank of America Institute, Americans are continuing to leave New York and Los Angeles in droves, but they are now fleeing Miami at equally alarming rates."
"Miami's outgoing mayor, Francis Suarez, told Fortune in October that he was concerned about the likely (and now confirmed) election of Zohran Mamdani as New York, and yet he also acknowledged that there was "definitely a gentrification happening" in his city. Two months later, affordability concerns played a key role in Miami electing its first Democratic mayor in nearly 30 years, Eileen Higgins."
Population shifts have continued six years after the pandemic, with New York and Los Angeles losing residents and Miami now experiencing similar outflows. A January 2026 Bank of America Institute report shows fourth-quarter 2025 data where Miami and Los Angeles had the largest absolute and year‑over‑year population losses among major U.S. cities. Miami recorded the steepest year‑over‑year percentage decline among tracked metropolitan areas. Local political change and affordability influenced migration patterns, including Miami electing a Democratic mayor, Eileen Higgins. UBS places Miami atop its bubble risk index. Meanwhile, Austin, Denver, and Philadelphia saw the biggest inflows, and the Midwest, led by Indianapolis and Columbus, gained population.
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