Later, the Mariel Boatlift of 1980 brought 150,000 Cubans to Miami, the largest in civilian history. Unlike the previous exodus of the 1960s, most of the Cuban refugees arriving were poor. Castro used the boatlift as a way of purging his country of criminals and of the mentally ill, as well as further removing possible political dissidents. During this time, many of the middle class non-Hispanic whites in the community left the city, often referred to as the "white flight." In 1960, Miami was 90% non-Hispanic white; by 1990, it was only about 10% non-Hispanic white.

In the 1980s, Miami started to see an increase in immigrants from other nations such as Haiti. As the Haitian population grew, the area known today as Little Haiti emerged, centered on Northeast Second Avenue and 54th Street. In 1985, Xavier Suarez was elected as Major of Miami, becoming the first Cuban mayor of a major city. In the 1990s, the presence of Haitians was acknowledged with Haitian Creole language signs in public places and ballots during voting.

Another major Cuban exodus occurred in 1994. To prevent it from becoming another Mariel Boatlift, the Clinton Administration announced a significant change in U.S. policy. In a controversial action, the administration announced that Cubans interdicted at sea would not be brought to the United States but instead would be taken by the Coast Guard to U.S. military installations at Guantanamo Bay or to Panama. During an eight-month period beginning in the summer of 1994, over 30,000 Cubans and more than 20,000 Haitians were interdicted and sent to live in camps outside the United States.

On September 9, 1994, the United States and Cuba agreed to normalize migration between the two countries. The agreement codified the new U.S. policy of placing Cuban refugees in safe havens outside the United States, while obtaining a commitment from Cuba to discourage Cubans from sailing to America. In addition, the United States committed to admitting a minimum of 20,000 Cuban immigrants per year. That number is in addition to the admission of immediate relatives of U.S. citizens.

On May 2, 1995, a second agreement with the Castro government paved the way for the admission to the United States of the Cubans housed at Guantanamo, who were counted primarily against the first year of the 20,000 annual admissions committed to by the Clinton Administration. It also established a new policy of directly repatriating Cubans interdicted at sea to Cuba. In the agreement, the Cuban government pledged not to retaliate against those who were repatriated.

These agreements with the Cuban government led to what has been called the Wet Foot-Dry Foot Policy, whereby Cubans who made it to shore could stay in the United States – likely becoming eligible to adjust to permanent residence under the Cuban Adjustment Act. However, those who do not make it to dry land ultimately are repatriated unless they can demonstrate a well-founded fear of persecution if returned to Cuba. Because it was stated that Cubans were escaping for political reasons, this policy did not apply to Haitians, who the government claimed were seeking asylum for economic reasons.

Since then, the Latin and Caribbean-friendly atmosphere in Miami has made it a popular destination for tourists and immigrants from all over the world, and the third-biggest immigration port in the country after New York City and Los Angeles. In addition, large immigrant communities have settled in Miami from around the globe, including Europe, Africa, and Asia. The majority of Miami's European immigrant communities are recent immigrants, many living in the city seasonally, with a high disposable income.

Miami Beach