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South Florida leads East Coast in metro area GDP growth

Among the nation’s 15 largest metro areas, South Florida ranked 6th in year-over-year metro area GDP growth – behind only cities located in California and Texas. South Florida’s GMP grew by 3.3 percent, much higher than the 2.5 percent growth seen across US metro areas between 2014 and 2015.

The majority of metros were led by growth in the PBS sector. In South Florida, however, FIRE related industries comprised 22.1 percent of GMP growth, followed closes by trade (21.2 percent). This comes as no surprise given the strong rental and leasing markets (across all property types), as well as strong industrial market performance and drivers during that period. Comparatively, these two sectors represented 16.0 percent (trade) and 15.6 percent (FIRE) across US metro areas. Trade was a large contributor in other top five markets as well, with Houston being a notable exception – over nearly 54.0 percent of growth there can be attributed to natural resources and mining.

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