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Flee or Flock? Florida Struggles To Reduce Churn Amongst Its Newcomers
Florida Ranks #2 Amongst States That Americans Are Looking to Move To, But It’s Also the #1 State That Current Residents Want to Leave
Michael Campbell
31 Jul
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Florida Ranks #2 Amongst States That Americans Are Looking to Move To, But It’s Also the #1 State That Current Residents Want to Leave
Florida was the fastest growing state in the nation in 2022. According to Census.gov, the Sunshine State added 416,754 new residents and grew nearly 2% year-over-year. To date, Florida’s population sits just above 22.2M people.
However, Florida now also tops the list of states that residents are looking to move from. Google search queries revealed that 33,870 Floridians are seeking out alternative states to call home; that’s 152 out of every 100,000 residents.
As one of the most hurricane prone states in the country, natural disasters pose a constant threat. Furthermore, home insurance costs in Florida are now 4 times higher than the national average according to CNN.
Both of these issues rank high amongst the reasons people are seeking relocation options away from the palm trees and tropical weather Florida has to offer.
Quick Takeaways
Florida’s Growth Appears to Be Coming to A Screeching Holt
Despite Being One of the Fastest Growing States, 152 Out of Every 100,000 Residents Want to Leave
On Another Note
✺ Will Section 8 Save the Day?: HUD commits $30.3B in additional funding to the Section 8 Housing Choice Voucher Program in hopes to lure participation from more private owners. — Bisnow
✺ Baltimore Breaks Into the Top 5: Baltimore inches up to #3 in the nation amongst cities with the most commercial office-to-residential apartment conversions. — Bisnow
✺ Austin Council Members Approve Major Lot Chop to Increase Density Throughout the City: In an effort to increase building opportunities and inventory throughout one of Texas’ fastest growing metros, Austin city council members have agreed to reduce the minimum single-family lot size from 5,750 square feet to 2,500. — The Real Deal
✺ Rock Bottom Inventory and Sky High Prices: Home sales hit a 14-year low to end June; however, prices continue to inch higher as we move closer to Q4. — Markets Insider
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