Billionaires like Ken Griffin are moving to Miami—but middle-class earners can’t copy them and reap the same benefits, real estate experts say

Miami is attracting wealthy Americans like billionaire Ken Griffin due to tax benefits and luxury properties, but housing affordability is declining, making it difficult for middle-class families to move there. Florida received the most wealth from domestic migrants in 2023, with newcomers averaging $122,530 in annual income, while Miami's median home price is $652,110, requiring incomes of $160,000–$215,000 to afford.