Florida, also known as The Sunshine State, has just surpassed New York as the second-hottest housing market in the United States. Much of this is thanks to the state’s boom in population over the past decade. From 2012 to 2022, over 3 million people flocked to the state, increasing the population and real estate activity everywhere. From the biggest cities, like Tampa, Jacksonville, Miami, or Orlando, to the smallest neighborhoods, Florida is welcoming new residents daily.
As the residential housing market continues to skyrocket in success, experts have speculated as to what other factors may be fueling these changes. The state has always had its alluring weather and warmth to entice snowbirds and vacationers alike but the boom that the state has experienced recently points to new reasons causing the shift. Upon further study the three main sectors that are drawing in residents are changes in work culture, overall quality of life, and changes and improvements in housing opportunities.
The flexibility of remote work is changing the game for employees in Florida. In 2022, over 16% of all Floridians worked from home, a number that is only expected to continue to rise in the coming years. The Sunshine State also has the third highest rate of new businesses per capita in the United States and has the largest percentage of small businesses. The availability of work is also a draw to the state. Florida saw the third highest employment increase of 2023, nearing 3%. With job opportunities galore and the cost of living being cheaper than in some other states, people are finding that alone to be a good reason to relocate.
The quality of life for residents in Florida is exceptionally high, data confirms. First, the weather in the state is temperate and pleasant, with the average wintertime low around 60 degrees Fahrenheit, and the average high in the summer a touch above 80 degrees Fahrenheit. On top of the enjoyable climate, there is no state income tax imposed. For example, one who makes $2,100 on a paycheck would take home about $1600, a number higher than workers in New York or California. In addition, the cost of living in Florida is lower than other competing states, hovering closer to the national average than some of the most populated states in the country.
Finally, Florida has seen unprecedented changes to the housing market and situation in recent years. New construction in the state is at an all-time high, with new building applications reaching totals greater than New York and California combined. There are also lower home prices in the state, explaining why so many are looking to make a move here. Finally, first-time homeowners have greater access to living arrangements in Florida than in any other competing state, with 67% of its residents falling under this category.
Before one packs their bags and heads to the Sunshine State, experts agree it is important to weigh all options against what one needs and can afford. Fortunately, there are many services that movers can take advantage of to help them through this process. It can be difficult to navigate mortgage options, and loans, or even just figuring out where to start. This is where these programs step in, ensuring that everyone from first-time homeowners to veteran movers has the support they need. It is important to be educated on the moving process, as it streamlines the experience and ensures efficiency every step of the way. To accomplish this, take advantage of the resources in the area and find a forever home without the hassle.
