{"id":7172,"date":"2022-06-16T16:04:29","date_gmt":"2022-06-16T20:04:29","guid":{"rendered":"https:\/\/empireappraisalgroup.com\/?p=7172"},"modified":"2022-06-03T16:08:03","modified_gmt":"2022-06-03T20:08:03","slug":"new-yorkers-and-californians-flock-to-florida","status":"publish","type":"post","link":"https:\/\/empireappraisalgroup.com\/new-yorkers-and-californians-flock-to-florida\/","title":{"rendered":"New Yorkers and Californians Flock to Florida"},"content":{"rendered":"

New Yorkers and Californians Flock to Florida<\/h1>\n

\"'Florida<\/p>\n

\n

By Kelly Hayes<\/h3>\n<\/div>\n

Fla. rents are up because demand is up, and new residents boost demand. In 2020, 167 people moved in for every 100 who left. In 2021, the inbound number was 210.<\/p>\n

\n

MIAMI \u2013 In Florida\u2019s top metros, rents have risen by 24% to 32% in a year. Usually, rents swing by about 1% or 2% per year.<\/h3>\n

New Yorkers and Californians are flocking to the Sunshine State, with Florida reporting the largest year-to-year increase in net migration among all U.S. states, according to a new data report from moveBuddha. The report used a combination of U.S. Census Bureau data and moveBuddha proprietary data, as well as Zillow\u2019s Home Value Index and Florida Housing Data.<\/h3>\n

In 2020, 167 people moved into Florida for every 100 who left. In 2021, that number surged to 210 inbound residents for every 100 who left, meaning more than twice as many people moved into the state than left it.<\/h3>\n

In 2022, the surge is so far being led by Californians and New Yorkers \u2013 each state represented, respectively, 10% of inbound moves to Florida as of early 2022, or about 20% collectively. Following New York and California, individuals from Illinois (6.8%), New Jersey (5.9%) and Pennsylvania (5.4%) also make up a large percentage of new settlers, according to the report.<\/h3>\n

So, why are people moving to Florida?<\/h3>\n

While there is not one direct answer, the report provides several reasons why individuals may be choosing Florida over other states to settle down in.<\/h3>\n

As far as expenses, California, New York and Illinois are all in the top 10 for state income tax, while Florida boasts no state income tax at all, as well as lower property taxes. This week, state legislators meet for a Special Session on property insurance in hopes of clearing policy to stabilize Florida\u2019s skyrocketing property insurance market, another effort to decrease costs for residents.<\/h3>\n

It\u2019s also no surprise the Sunshine State has become a hub for retirees to spend their golden years \u2013 Florida has the second-largest percentage of 65+ residents out of all the states, second only to Maine. And, families of Florida seniors also can benefit from their residency after Gov. Ron DeSantis signed into law a policy that waives out-of-state tuition at some universities for grandchildren of Floridians.<\/h3>\n

Florida also is booming in the tech industry, attracting more tech companies than any other state in 2021 \u2013 2,715 new businesses totaling 10,522 jobs.<\/h3>\n

And then of course, there\u2019s the pandemic.<\/h3>\n

The COVID-19 pandemic led to an influx in remote working conditions, leading some to move based on destination rather than work location.<\/h3>\n

On the more political side, some newcomers to the state may find appeal in the lack of COVID-19 restrictions. DeSantis has been a vocal critic of strict mitigation measures, staunchly opposing mask and vaccine mandates throughout the COVID-19 pandemic. COVID-19 struck Florida in March 2020 as lawmakers were wrapping the final weeks of that year\u2019s Legislative Session.<\/h3>\n

However, his response to the pandemic has been criticized by others, who saw the Governor\u2019s position as too lax during the pandemic\u2019s peak. More than 74,000 individuals have died from COVID-19 in Florida.<\/h3>\n

Outside of money and politics, there is of course the reason the peninsula earned its nickname \u201cThe Sunshine State\u201d \u2013 the coastal climate of Florida, while hot in the summer, cannot be beat. The tropical weather, year-round sunshine and mild winters make the state a haven for those used to harsh snows up North. It\u2019s also the reason many Floridians taunt: \u201cWe live where you vacation.\u201d<\/h3>\n

Impact of newcomers<\/h3>\n

The influx of out-of-state newcomers is prompting some major shifts.<\/h3>\n

Perhaps one of the most noticeable impacts the growth has caused on Floridians is the rising cost of rent. The top five Florida cities with the highest percent-increase in Zillow Home Value Index (ZHVI) from 2020-22 also show large population growth in the past decade. The top five cities each have ZHVI increases above 50% over the past two years.<\/h3>\n

For example, Cape Coral, which reported the highest ZHVI increase from 2020 to 2022 at 63%, saw its population increase by 30% between 2010 and 2020.<\/h3>\n

Rent increases have only garnered more momentum over the last year. An analysis by Florida real estate academics cited in an NBC report found in Florida\u2019s four top metro-markets \u2013 Tampa Bay, Fort Myers, Miami and Orlando \u2013 rents have risen by 24% to 32% in a year. Usually, rents swing by about 1% or 2% per year.<\/h3>\n

The increases are hitting South Florida especially hard. When averaged among the state\u2019s largest metros, housing values have increased about 70% from 2010 to 2020, followed by a rise of another 39% in the last two years alone, according to moveBuddha.<\/h3>\n

Where are people moving?<\/h3>\n

In the last decade, nearly 3 million new people moved to the state of Florida.<\/h3>\n

In 2022, the city of Ocala saw the highest inbound over outbound ratio \u2013 for every 596 people to move to Florida\u2019s horse capital, only 100 left. As far as 2022 in-to-out ratios, Ocala was followed by Sarasota (311 to 100), St. Augustine (250 to 100) and Tampa (242 to 100).<\/h3>\n

Tampa was also among the top three metro areas that saw the most new residents from 2010 to 2020, along with Orlando and Miami.<\/h3>\n

So, while it doesn\u2019t look like the mass migration to Florida is slowing down anytime soon, the affordability of the state \u2013 a critical part of its appeal \u2013 is teetering. Affordable housing and property insurance are measures legislators will have to address in the coming years, as the state continues to turn visitors into residents each day.<\/h3>\n

\u00a9 Copyright 2022, Highlands News-Sun, All Rights Reserved<\/h3>\n<\/div>\n

Source: New Yorkers and Californians Flock to Florida | Florida Realtors<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New Yorkers and Californians Flock to Florida By Kelly Hayes Fla. rents are up because demand is up, and new residents boost demand. In 2020, 167 people moved in for every 100 who left. In 2021, the inbound number was 210. MIAMI \u2013 In Florida\u2019s top metros, rents have risen by 24% to 32% in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[7],"tags":[],"yoast_head":"\nEmpire Appraisal Group - Highest Reviewed Appraiser in Broward<\/title>\n<meta name=\"description\" content=\"Need an Appraisal? Call or text us today for a free quote (561) 441-9298. Serving Broward County for over 15 years. Specializing in residential appraisals for listings, divorces, estate & Probate, bankruptcy, IRS Gift Tax, and much more. Broward County\u2019s Leader in Home Appraisals since 2005. Call us today at 561-441-9298. Real Estate Appraiser, Property Appraiser, Expert Appraiser, Broward Appraiser, Appraisal, Property Appraisal, Home Values, What is my home worth, divorce appraiser, bankruptcy appraiser, estate appraiser, trust appraiser, tax appeal appraiser, Broward County, Florida, real estate appraisers, appraisers, real estate, appraisal services, residential appraisal, house appraisers, residential real estate appraisal, appraisal services, coral springs fl, coral springs Appraiser, Residential Appraiser, broward county, broward, HOME APPRAISER, HOME APPRAISALS, PMI removal, LOAN APPRAISAL, MORTGAGE APPRAISAL, MORTGAGE APPRAISER, MORTGAGE APPRAISALS, FLORIDA, REAL ESTATE APPRAISAL, RESIDENTIAL APPRAISER, RESIDENTIAL APPRAISALS, RESIDENTIAL REAL ESTATE APPRAISER, LOCAL APPRAISERS, certified appraiser, state certified appraiser, estate appraiser, appraiser 33065, appraiser coral springs, appraisers coral springs, coral springs appraisers, coral springs appraisal, coral springs appraisals, appraisal coral springs, appraisals coral springs, appraiser coral springs Florida, coral springs real estate appraisers, Real Estate Appraisers coral springs, Appraisers coral springs Florida, Appraisers coral springs FL, coral springs florida appraisers, coral springs real estate appraiser, Real Estate Appraiser coral springs, coral springs florida real estate appraisers, Coconut Creek, Cooper City, Coral Springs, Dania, Davie, Deerfield Beach, Fort Lauderdale, Hallandale, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Parkland, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Sunrise, Tamarac, Weston, Wilton Manors, divorce appraiser, PMI removal appraiser, bankruptcy, estate, appraisers boca raton\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/empireappraisalgroup.com\/new-yorkers-and-californians-flock-to-florida\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empire Appraisal Group - Highest Reviewed Appraiser in Broward\" \/>\n<meta property=\"og:description\" content=\"Need an Appraisal? 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