Miami, we need to talk. It’s no secret that everything feels expensive lately—from your cafecito to your condo rent. Now, WalletHub is confirming what we already knew: Miami is one of the most financially distressed cities in the U.S. (we ranked #9, ouch!).
With inflation hitting hard, more and more people are struggling to keep up with credit card payments, loans, and even basic expenses. Florida as a whole is ranked the fifth most financially distressed state, and Miami isn’t faring much better. We’re 10th in people with accounts in distress, 22nd in the average number of distressed accounts, and 19th in bankruptcy filings. Not exactly the kind of rankings we want to flex.
And we’re not alone—other Florida cities like Orlando, Tampa, and Jacksonville are also high on the distress list. Jacksonville, in particular, has been hit the hardest, with a staggering 87% increase in residents struggling with overdue accounts.
So, what’s next? Cutting back on those $18 cocktails? Maybe. But Miami always finds a way to bounce back—just ask anyone who’s survived hurricane season! Now you understand why Jade Alexander and I slang eggs around the office!
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