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According to a new study, young professionals are flocking to downtown Miami.

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Oscar Pedro Musibay

Reporter - South Florida Business Journal

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Downtown Miami is skewing younger, emerging as an attractive location for young professionals seeking a more urban lifestyle, with incomes exceeding that of the city of Miami and Miami-Dade County, according to a new study.

The Miami Downtown Development Authority Miami Downtown Development AuthorityLatest from The Business JournalsMetropolitan Miami to house Whole Foods MarketReal Estate Journal-Miami-Dade County projectsGenting: We can bring 5,000 jobs to Omni by fall 2012Follow this company’s Population & Demographic Profile Study indicates that 57 percent of residents were age 20 to 44 and had a per capita income that is higher than both Miami and the county.

The study also shows the number of households has increased 93 percent since 2000.

There were 23,000 new residential units delivered in Miami between 2003 and 2010. The area’s population stands at about 72,000 people as of midyear, representing a 9 percent increase, year-over-year, and outpacing the 6.8 percent growth rate experienced during the previous decade, according to the DDA.

The area’s per capita income grew by 39 percent from 2000, and far exceeded that of the city of Miami and Miami-Dade County. Additionally, more than 65 percent of employed downtown residents work as professionals, with an average household income of $43,992.

“The influx of new residents is transforming the area into a 24-7 urban community and is having a ripple effect by attracting additional investments to the area,” DDA Executive Director Alyce Robertson said in a statement.

According to the report, downtown Miami's rapidly expanding population is generating growing demand for retail, restaurants, entertainment and cultural facilities, as well as enhancing the area’s drawing power as an international destination for business and tourism. As a result of this population growth, retail has flourished, with more than 200 new restaurants and shops opening since 2005, with many catering to the younger demographic.