The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

States That Floridians Are Moving To: Explained

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The Sunshine State is having one of the wildest migration rates of the decade! For instance, with hundreds of thousands of in-and-out state movers traversing its shores, theflorida number of people trooping in has dulled the news of how many residents are moving out of Florida. Between 2021 and 2022, data from the U.S. Census Bureau showed an impressive number of 739,000 people moving to Florida. At the same time, the record showcased nearly 490,000 of the state’s residents leaving within the period.

Closely following the record-smashing migration rate, a pattern of the relocation of Floridians became apparent. Therefore, the data showed a compiled list of states Floridians are migrating to, and Georgia is at the top spot of the destination. More information about the top seven new destinations for Floridians and how many residents moved to each state.

The Great Migration: Why?

The big question: why are people leaving Florida?

To fully understand why Florida lost almost half a million residents between 2020 and 2021, you’ll also need to know why population growth in the state has been on the rise. Going on the streets of cities like Jacksonville in Florida and speaking with its residents gives you an insight into what’s happening in the state. 

Some moving companies in Jacksonville, Florida that have helped residents relocate will summarize the significant out-of-state migration into two everyday things: a higher cost of living and weather threats.

Many of the new residents coming into Florida are from states like California and New York, and guess what? They brought their lifestyle with them.

Florida is a growing state with fantastic infrastructure; many wealthy folks are buying houses at exorbitant prices as compared to the norm—causing a market shift.

In a nutshell, a breakdown of common reasons people are moving out include:

  • Increased average house listing prices
  • Higher housing rent
  • The threat of storms and hurricanes
  • Family considerations
  • Job transfers

Average Cost of Living

Avg House Listing PriceAvg House RentMedian Annual SalaryProperty Tax Rate
North Carolina$362,200$1,526$56,2200.80%
New York$649,000$2,639$74,8701.73%

Top 7 Choice States by Floridians

Using released data from the U.S. Census Bureau’s 2021 American Community Survey on state-to-state migration, you’ll see the top seven destination states of Floridians.

The basis of this list is from data of residents in 2021 who resided in Florida in 2020 and made moves.

  • Georgia

According to census data, about 51,380 Floridians made a move to Georgia in 2021. The population of movers was about 10.47% of the total outbound migrants from Florida, increasing Georgia’s population to 10,688,429.

A significant reason and benefit for many of the movers was a guaranteed 4.2% lower cost of living in Georgia compared to Florida. Following the average salary statistics, Georgians earned a median salary of $58,000 as against Florida’s $55,980.

As for the retirees, Georgia is a better welcoming place for them, with lower house prices and even lower property taxes compared to Florida.

  • Texas

With approximately 41,747 people having made a move from Florida, Texas becomes the second state after Georgia with migrant Floridians. The move of Florida residents into Texas contributed about 6.61% of all the outgoing movers from the state.

The move, coupled with migrants from other states, caused a +1.12% change in the total number of residents in Texas. I was increasing the total population to roughly about 29,170 380.

A selling point for many Floridians is the affordability in Texas. Living in this part of the U.S., you get to enjoy extensive city amenities with a lower budget. The cost of living here is below the nation’s average, and there’s also no personal or corporate income tax.

  • North Carolina

Lying on the Atlantic coast between Florida and New York, North Carolina has welcomed 34,920 Floridians on its soil. About 7.89% of all residents in Florida who relocated out in 2021 moved into the Old North State, joining the tar heels.

The relocation by Floridians and other out-of-state movers caused a +1.11% increase in North Carolina’s residents to 10,446,881.

Coming to the Tar Heel state, people moving out of Florida would enjoy a better moderate climate compared to their usual scorching summers: no wild hurricanes, a reduced living cost, lower housing prices, and lower taxes.

  • California

In the Golden State of California, although not quite as affordable as living in Florida, many of the movers choose the state based on preference. Most of the 28,557 movers from Florida were young professionals or adults looking to try something new and significant.

Of course, the cost of living is on the higher side, but it’s believed the median annual salary pay and lower property tax rate in California attracts many Floridians. About 5.26% of all outbound Floridians trooped into the entertainment hub state in 2021, and the final population became 38,833,197 after 0.91% of Californians left.

  • Tennessee

Closely following California is The Volunteer’s State of Tennessee. Having about 25,318 Floridians relocating onto its grounds, the Tennesseans welcomed 4.43% of all outbound residents from The Sunshine State. 

In that one year, Tennessee’s population rose by 0.62% to 6,899,165 residents.

Many Floridians coming out to Tennessee are looking for the simple lifestyle they used to have in Florida before the wealthy folks stumped the place. Jamie Foreman, a realtor in the state, described the move by Floridians, saying, “our lower cost of living, lower cost to purchase a home, and the economics here.”

  • Virginia

23,766 Floridians; that’s the number of The Sunshine State residents fleeing to continue life in Virginia. The 807.7-mile gap between Florida and Virginia didn’t stop them from making the move.

About 4.39% of Florida residents relocated to Virginia; for 2021, the recorded census for the Old Dominion was 8,557,020.

Amongst the personal individual reasons by Floridians for moving to Virginia, the booming economy and low unemployment rate is an attraction. Plus, the median household income in Virginia is slightly higher than the national average, meaning better comfortability.

  • New York

New York City had thousands of Floridians flooding its grounds in 2021. About 21,300 of prior Florida residents chose this part of the U.S. to call their new home.

Although the cost of living and expenses aren’t practically lesser here than in Florida, the higher median annual salary and other incentives seem to strike a balance for many movers.

The weather is less intense in New York in the summer, with temperatures ranging between 71°F and 84°F as opposed to Florida’s 74°F and 86°F.

Final Observation

Statistics and data records can only show a trend of common reasons why residents are moving out of Florida. However, many of these movers could have unique agendas for their move, which aren’t backed by increased living expenses and unbelievable weather in Florida.

If you plan on moving to Florida and you’re a bit skeptical because of the massive migration rate, well, it shouldn’t bother you much. Therefore, Florida is a continuously growing state, and with a rising population, perfect planning, and the proper guidance, the Sunshine State might be the best bet for you (and your family.)

Written By: Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.

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