NAICS 44-45

Retail Trade in Miami-Fort Lauderdale-West Palm Beach, FL

Metro Market Score 63.2 (Difficult), ranked #289 of 378 metros. 26,296 establishments, 325,143 jobs.

Metro Market Assessment

Metro Market Score 63.2
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Difficult

ⓘ Lower is better. Relative to national retail trade average.

💰High-Cost Market

Miami-Fort Lauderdale-West Palm Beach stands out for high retail trade labor costs. Wage competitiveness hits 97.3 (above the 70th percentile of metros), and year-over-year wage pressure at 66.8 signals continued increases. Plan for higher payroll if entering this market.

Industry Concentration
57.4
LQ: 1.17
Rank #217 of 378 metros
Wage Competitiveness
97.3
$47,949 avg wage
Growth Trend
↑ 63.0
Employment growth index
Rank #141 of 378 metros
Wage Pressure
66.8
YoY wage change index

26,296 Retail Trade Firms in Miami-Fort Lauderdale-West Palm Beach

26,296
Establishments
-0.8% YoY
325,143
Total Employment
+0.1% YoY
$47,949
Average Annual Wage
+1.0% YoY
1.17
Location Quotient
Above national avg

Miami-Fort Lauderdale-West Palm Beach vs Florida Statewide

How this metro's retail trade market compares to Florida overall. The state ranks #43/51 for entry risk.

Measure Miami-Fort Lauderdale-West Palm Beach FL Statewide
Overall Score 63.2 Difficult 51.0 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #289 of 378 metros #43 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 Accommodation and Food Services 61.6 Information 64.0 Professional, Scientific, and Technical Services 64.3 Administrative and Support Services 71.7 Finance and Insurance 72.7

Retail Trade in Other Florida Metros

Gainesville 24.8 #2/378 Tallahassee 38.1 #37/378 Palm Bay-Melbourne-Titusville 47.7 #106/378 Jacksonville 48.1 #110/378 Homosassa Springs 49.6 #131/378 Panama City-Panama City Beach 50.1 #142/378 Sebring 50.6 #149/378 Orlando-Kissimmee-Sanford 52.0 #163/378 Wildwood-The Villages 52.1 #164/378 Pensacola-Ferry Pass-Brent 54.0 #188/378

+ 11 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 retail trade sector, the wage competitiveness component (97.3) 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.