By Michael Smith
Jun 27, 2026 – Near the luxurious yachts that belong to Miami's wealthiest, many smaller boats have been abandoned in Biscayne Bay by owners who couldn't maintain them.
Since October, Miami Beach police have found and removed around 140 boats that were left to deteriorate in the warm weather. Many others are simply sitting there, half-submerged or anchored close to some of the most expensive properties in the U.S.
“Many people buy boats without realizing the costs associated with fuel, maintenance, and docking,” said Sergeant Javier Fernandez, head of the Miami Beach police marine unit, as he looked at the abandoned boats from their patrol boat.
Suddenly, he spotted a sunken cabin cruiser, over 30 feet long, with its damaged wheelhouse sticking out of the water at an odd angle. The patrol boat had to steer away to avoid a crash.
“This is where they all end up,” he commented.
This trend of abandoned boats reflects a surge in boating activity since the pandemic, partly fueled by an influx of wealthy newcomers. As money pours into Miami, boats are getting larger, increasing costs for dock space and maintenance. In Florida, there were approximately 1.2 million registered boats in 2024, making it the top state for boats and marking a 20% increase since 2023, according to the National Marine Manufacturers Association.
The abandoned vessels varied from sailboats to motorboats, according to police records seen by Bloomberg.
These derelict boats pose hazards to other boaters and are nuisances for property owners. Sometimes, they break loose and crash into waterfront properties. Fuel leaks from these vessels can also harm the environment.
The increase in abandoned boats is a sign that gentrification on land has also affected South Florida’s waters. With billionaires purchasing homes in Miami’s affluent areas, the cost of living has skyrocketed by over 36% in six years, outpacing the national inflation rate of about 29%, according to Bureau of Labor Statistics data. This has pushed some lower-income residents out: more people are leaving Miami than any other major U.S. city, per a study by the Bank of America Institute.
These same pressures impact boaters, causing some to give up entirely.
Despite the displays of luxury on the water, there’s a large number of middle-class boaters as well. In Miami-Dade County alone, there are about 73,000 boats, including nearly 5,000 over 40 feet long. This does not include super yachts from other areas seen cruising local waters.
High demand for marina spaces has made it hard for less wealthy boaters to find docks, pushing some businesses out. The growing number of boats has also made the waters riskier. In 2024, Florida had a fatality rate of 6.4 deaths per 100,000 registered boats, about 50% higher than the national average, according to the latest U.S. Coast Guard data.
This year, a man was killed when a larger boat ran over his smaller vessel while he and his son were on the water. Eleven people sustained serious injuries when a boat exploded during a birthday party in Miami. In early June, a woman’s body washed up on Hollywood Beach after being struck by a boat while snorkeling.
About 67% of fatalities involved boat operators without formal training, and a third of accidents were collisions with fixed structures like channel markers, according to the Florida Fish and Wildlife Conservation Commission.
“There's increased congestion on the water, and more boats mean more inexperienced operators,” remarked George Reynaud, a spokesman for the agency in Miami.
Just like other sectors of the U.S. economy, boating is facing an affordability crisis.
The National Marine Manufacturers Association reports that power boat sales in the U.S. fell by around 10% in 2025 and are not expected to see significant growth this year. In Florida, last year's sales dropped or remained static for almost all boat sizes, as highlighted by the association.
Yachts and super yachts remain an exception, noted Phil Purcell, CEO of the Marine Industries Association of South Florida.
“It mirrors what is happening in the real estate market,” Purcell said. The association operates the Fort Lauderdale International Boat Show, the prime event for yacht buyers, generating $800 million in sales last year.
“Boating is deeply woven into Florida's culture, and it's increasingly recognized as a wonderful way to enjoy life here,” Purcell added.
The cost of buying and maintaining a boat is significant. Popular boats under 26 feet sold for an average of $60,000 last year, while boats between 26 and 35 feet averaged $170,000, according to Boats Group, which runs various online sales platforms.
That's just the start: yearly costs for repairs, docking, fuel, and insurance can total about 10% of a boat's value. Docking fees in South Florida can range from $25 to $55 per foot each month, with prices sometimes hitting $100. New engines might cost $30,000 or more, and due to a shortage of marine mechanics, simple repairs can be pricey.
Due to rising costs, Florida has been dealing with the issue of abandoned boats. The state spent about $13 million in 2024 to remove these vessels, and last year, the Florida Legislature made it easier for police to remove abandoned boats and increased penalties for doing so.
Marinas tend to profit more from larger boats and many are being upgraded to accommodate these bigger vessels.
About an hour north of Miami Beach, billionaire Joe Lewis, who often lives on his 323-foot yacht Aviva, purchased Pier Sixty-Six, a long-standing fueling station, marina, and hotel along the Intracoastal Waterway.
Lewis’s company, Tavistock, invested $1 billion to transform the site into a resort featuring a five-star hotel, a condo tower with $14.5 million penthouses, and a marina designed for super yachts. Tavistock is also planning to invest hundreds of millions more to expand the marina.
At Pier Sixty-Six Marina, slip costs range from $8 to $10 per foot daily, and the marina is near the U.S. headquarters of prominent super-yacht manufacturers like Italy’s Sanlorenzo and Germany’s Lürssen. Clients can order custom-made boats over 200 feet, costing about $1 million per foot.
In Miami Beach, there are plans to update the city-owned public marina, established in the 1980s. Its operator, Suntex Marinas, aims to accommodate larger boats that are in high demand and expand dock space for super yachts.
“There’s a lot of demand for larger boats in southeast Florida,” said Rich Carter, COO of Suntex, which operates multiple marinas across the U.S.
Some wealthy individuals are also creating their own docks. Financier Ken Griffin is building a private marina to store his yachts in a space near Government Cut, the man-made channel leading to Miami’s port and cruise terminals.
The rising trend of super yachts has affected charter businesses that offer fishing trips or sunset cruises for tourists.
The Miami Beach marina recently removed over 30 charter operators after complaints from luxury condo residents about noise. Those who remained faced new restrictions on their operating hours.
“This feels like an attack on working class people by wealthier individuals who bought condos for marina views but now complain about the noise,” said Jessica Londono, co-owner of a charter business that has operated in the marina for 20 years. “They are trying to drive us out of business, even though we were here first.”
The marina flourished as a hub for charters for decades, attracting hotel guests who would pay at least $2,000 for half a day on the water with a captain and crew. But during the pandemic, the demand surged, leading to increased noise complaints from rowdy, intoxicated passengers, said Keith Marks, president of the local neighborhood association.
Marks mentioned that while he supports competent charter businesses, some customers became problematic, causing disturbances late into the night in nearby condo buildings.