NAICS 72

Accommodation and Food Services in Miami-Fort Lauderdale-West Palm Beach, FL

Metro Market Score 61.6 (Difficult), ranked #203 of 298 metros. 15,528 establishments, 288,571 jobs.

Metro Market Assessment

Metro Market Score 61.6
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Difficult

ⓘ Lower is better. Relative to national accommodation and food services average.

💰High-Cost Market📈Rapid Growth⚡Rising Wages

Miami-Fort Lauderdale-West Palm Beach stands out for high accommodation and food services labor costs. Wage competitiveness hits 96.0 (above the 70th percentile of metros), and year-over-year wage pressure at 72.0 signals continued increases. Plan for higher payroll if entering this market.

Industry Concentration
68.8
LQ: 1.14
Rank #205 of 298 metros
Wage Competitiveness
96.0
$37,760 avg wage
Growth Trend
↑ 79.9
Employment growth index
Rank #61 of 298 metros
Wage Pressure
72.0
YoY wage change index

15,528 Accommodation and Food Services Firms in Miami-Fort Lauderdale-West Palm Beach

15,528
Establishments
+1.4% YoY
288,571
Total Employment
+2.4% YoY
$37,760
Average Annual Wage
+3.7% YoY
1.14
Location Quotient
Above national avg

Miami-Fort Lauderdale-West Palm Beach vs Florida Statewide

How this metro's accommodation and food services market compares to Florida overall. The state ranks #44/51 for entry risk.

Measure Miami-Fort Lauderdale-West Palm Beach FL Statewide
Overall Score 61.6 Difficult 53.6 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #203 of 298 metros #44 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Miami-Fort Lauderdale-West Palm Beach

Construction 46.4 Healthcare and Social Assistance 52.4 Other Services 59.7 Real Estate and Rental and Leasing 60.2 Retail Trade 63.2 Information 64.0 Professional, Scientific, and Technical Services 64.3 Administrative and Support Services 71.7 Finance and Insurance 72.7

Accommodation and Food Services in Other Florida Metros

Ocala 48.4 #104/298 Sebring 51.5 #127/298 Palm Bay-Melbourne-Titusville 57.6 #169/298 Cape Coral-Fort Myers 60.2 #187/298 Jacksonville 60.2 #188/298 Punta Gorda 60.6 #194/298 Lakeland-Winter Haven 62.6 #212/298 Naples-Marco Island 63.3 #216/298 Tallahassee 66.3 #235/298 Sebastian-Vero Beach-West Vero Corridor 68.5 #249/298

+ 9 more metros. View all in Florida →

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Miami-Fort Lauderdale-West Palm Beach's accommodation and food services sector, the wage competitiveness component (96.0) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.