Florida, one of the major states in the southeastern part of the US, is blessed with mind-blowing and alluring scenery owing to its position near the Atlantic Ocean and the Gulf of Mexico. With a vast stretch of beaches, resorts, and fun spots, the state always has millions of tourists and visitors.
New York, on the other hand, is renowned for its fast-paced style of living and more modern amenities. In just one day, you can arrange your itinerary to visit the Metropolitan Museum of Art and have coffee with friends in Central Park, check out the Grand Central Station, explore Times Square, visit the Statue of Liberty, and also go sightseeing across NYC.
There are numerous beautiful cities and neighborhoods to live in that are suitable for families, startups, young executives, and retirees. While it is true that New York’s population has reduced massively during the pandemic, have it in mind that it is merely an amplification of an already existent phenomenon. According to reports, people were already leaving New York even before the coronavirus pandemic.
It is noted that around 2600 people were leaving New York per week before Covid-19. It was losing 376 residents per day in 2019, the pandemic only just added fuel to the fire. A good percentage of domestic migrants from New York and California have called Texas and Florida their second homes.
Although each family will have its own reasons to pick where they intend to move, reports have shown that Florida has a charm like no other state. It is a world-famous tourist destination that attracts millions of people each year. From being a holiday spot, it also has a thriving economy with several industries growing rapidly.
Pros and Cons of Moving to Florida from New York
According to experts, the migration from New York is one of the primary reasons Florida has more new residents. Aside from the fantastic beaches and world-class amusement parks that attract about 120 million visitors a year, there are numerous reasons to move to Florida from New York. Nonetheless, here are the pros and cons of moving to Florida from New York.
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This is, without doubt, one of the most notable reasons why more people are leaving New York and moving to Florida. New York City is noted as one of the few cities in the country where the residents are known to pay income tax twice, once to the state and once to this city. Note that just a few cities in America have their own income tax. Aside from the huge income tax, the city also has one of the highest property taxes in the US.
Note that this does not stop there, New York State Senate has in recent times passed a bill to raise the income taxes for people earning more than $1,000,000 annually. Florida on the other hand is noted as a paradise when it had to do with its taxes. There is no state-imposed personal income tax, and this alone can be the motivation for people who are beginning to consider moving from New York to Florida.
Development And Opportunities
According to reports, the economy of New York was dealt a massive blow in 2020. Note that the pandemic caused millions of people to lose their jobs and thousands of businesses were shut down. And since then, the economic condition of the state is yet to recover with around 11.2% of the people still unemployed, which is almost thrice the rate in March 2020. Howbeit, both the Federal Reserve Bank of New York and the state Department of Labor have noted that the regional economy has started to show signs of recuperation.
Meanwhile, Florida has enjoyed numerous economic booms in its history. Owing to the influx of ultra-rich businessmen from New York to Florida, experts are projecting another financial boom in the coming years. Florida is not entirely exempt from the overstepping effects that COVID-19 induced on economic growth all over the world, its economy was ranked 19th in the country with 10.4% unemployment.
According to recent statistics, Florida also shoulders above New York with its extremely affordable living cost. Note that New York is generally 115.4% more expensive than Florida. The median home cost is 334 percent more costly in New York than in Florida. Also, note that transportation in New York costs more than double the price in Florida.
While Florida is most often favorable when it comes to the cost of living, note that it is only when compared with New York. When compared to other states, Florida is ranked among the states with a higher cost of living.
It is imperative to note that New York’s real estate market was massively affected by the government-enforced lockdown. According to recent reports, rents in New York are more or less the lowest in the last few years. The cost of houses is also quite exorbitant when compared to that in Florida. Howbeit, the real estate sector in Florida has been flourishing.
Florida used to have a very affordable housing sector; you could buy or rent a house without your bank account taking a big hit. Howbeit, that is changing now; the prices are going up exponentially. Reports have it that the rents have increased by more than 10% in just a year.
This will most often depend on your personal preference; however, a good number of people tend to note that Florida’s weather is much more pleasant than New York’s. Florida is also referred to as the Sunshine State. It has more days of sunshine per year than any other state. You can experience a tropical climate here and it will make you feel like you are in the Caribbean.
You have to realize that Florida has one of the worst healthcare systems in the country. According to reports, Florida is ranked 41st among all 50 states. On the other hand, New York is renowned as one of the top 10 states with the best healthcare. While you will also find some hospitals in New York with poor ratings, the facilities are known to be much better than what is obtainable in Florida.
New York’s crime rate is ordinarily bad; however, if you take a more concise look, you will note that the overall crime rate in New York is genuinely quite low. Truth be told, it was ranked almost in the top ten states with the lowest crime rates. Meanwhile, Florida’s crime rate is not as bad as it used to be but it still requires a lot of attention from the authorities. Note that even with great improvements, the sunshine state is still ranked in the bottom half of the rankings of high crime rates.
While this might count as an advantage, it can also be a disadvantage especially since the weather in Florida is also one of the things compelling people to move out of the state. It can get really hot and humid during the summers. Also note that the risk of hurricanes, tornadoes, and all kinds of storms is always there. Someone who has lived there for a few years would probably start despising the weather. There is also a huge problem of sinkholes in Florida.
According to experts, this should be the most significant factor you are expected to consider when looking to make the move between Florida and New York. According to recent reports, New York is noted as the 17th happiest state in America, while Florida is ranked 27th on the happiness index. This study took into consideration more than 30 key metrics such as depression, financial development, and many other kinds of external and internal factors.
Schooling And Education
Schooling in New York is in many ways better than in Florida. Note that New York boast of some of the best schools and colleges in the country. Schools in New York are steadily ranked among the top 10 of all states in the country. The same report noted Florida’s schools at the 29th position. However, this does not mean that Florida’s education is the worst; but if you value a good education for your children, then New York is the place to stay.