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Forbes: Miami most miserable city

9:53 AM, Feb 6, 2012   |    comments
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(Courtesy: NBC)

(WTVJ) -- Miami, the city famous for its gorgeous weather and beautiful beaches, has been named America's Most Miserable City by Forbes Magazine.

Although it may be a great home to superstars like Lebron James and Enrique Iglesias, Forbes said Miami's ordinary residents fared much worse in the list, which was released Thursday.

The magazine compared ten factors, including violent crime, unemployment, corruption and sports team performance between the 200 largest cities in the United States.

Other factors included commute time, weather, and taxes.

Miami's metro area has one of the country's highest crime rates, the magazine reported.

The county's unemployment rate is almost two percent higher than that of the national average and residents have been upset with the political leadership (354 public officials in southern Florida have been convicted of crimes over the past ten years).

Miami's financial status didn't prosper either.

Median home prices at $169,000 are the sixth worst in the country, and there have been 364,000 foreclosures since 2008, according to RealtyTrac.

About 75 percent of households earn less than $75,000, Forbes said.

Two other nearby Florida cities also made the list.

West Palm Beach ranked a close fourth place and Fort Lauderdale came in at seventh.

Miami came in second on the list last year, falling behind Stockton, California.

WTVJ

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