Florida for decades has been an attractive location owing to its warm weather, gorgeous beaches, no income tax, and relatively affordable home prices. According to reports, it has long been a Mecca for retirees: over 3.5 million baby boomers have retired in recent years, and a good percentage of them are spending their remaining years in the temperate paradise.
Florida is also becoming an increasingly popular destination for younger residents, too. Note that millennials who can work remotely are choosing to do so by the beach. With a subtropical climate that attracts visitors all year round, Florida is a US state situated in the country’s southeastern part. Temperatures in the sunshine state are always warm, and all parts of the state have proximity to the beach.
Visitors love the golf courses, theme parks, exotic animals, and sunshine. The sunshine state sits on 65,755 square miles of land, with 353.4 people in every square mile. It is the 8th most densely populated state in the United States, with Jacksonville having more than 900,000 people.
Reasons So Many People are Moving to Florida
Truth be told, more and more people are considering moving to Florida for a wide range of reasons. Some of the reasons behind the increased migration include:
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Lower Cost of Living
While the cost of residing in the state’s highly-developed cities such as Miami can be quite high, note that most of the areas in the state are affordable to live in. For instance, Jacksonville is renowned for having the lowest cost of living in Florida, with a record 9 percent below the country’s average. In the same vein, Brookville’s cost of living stands at 18 percent below the national average.
Reports have it that the average person will only have to earn $30,855 a year (before taxes) to have a livable wage in Florida. A single adult with one child would need a wage of $64,317 a year, while two working adults with one child will need $69,747 a year.
Also note that food is affordable in Saint Petersburg and in Jacksonville, and they are not as expensive as in Miami. You will need to spend about $2,792 on single adult annual healthcare costs and $9,249 on annual healthcare costs for a family of four.
According to reports, the average cost of essential utilities is $128.12 in Miami, $183.18 in Tampa, and $185.73 in Orlando. You will also need to take into consideration expenses such as state park entry and parking fees, gym memberships, and entertainment costs when living in the state.
Plenty of Cultural Diversity
Florida is noted as a multicultural state with people of different ages, religions, and backgrounds. The population is made up of people born and raised in the state and individuals who transmigrated from other states for tax benefits, job opportunities, and the weather. With assorted delectable dining options, the state has a wide range of meals and drinks.
Over the years, fresh produce, including strawberries, avocados, watermelon, and oranges; have always been sourced from the state’s thriving farms. Also, note that you can enjoy Caribbean-style and Island-inspired foods like coconut shrimp from Florida restaurants.
Florida’s residents are also known to have an admirable laid-back lifestyle characterized by casual fashion. Most often, you will meet residents donning t-shirts and flip-flops. If you enjoy chilling and living in the moment, the sunshine state has everything you require.
Perfect Getaway Destination
Also, note that people who reside in Florida never have to seek other vacation destinations because they have most of the attractions they need. Have it in mind that almost all tourist attractions in Florida are within a drivable distance. Also, note that there is always something fun and exciting for anyone coming to the state, from the Disney World theme parks to the secluded sandy beaches on the Gulf Coast.
Note that the state lies on the east coast and you can save on flight hours when heading to Europe. Florida is also an excellent starting point for travels to South America, the Caribbean, and Mexico. Renowned as the world’s cruise capital, the sunshine state is home to over 20 cruise lines, including Regent Seven Seas, Disney, and Royal Caribbean. Most of the seasons in the state are usually warm and mild.
Appealing Job Market
With one of the country’s largest GDPs, a GDP estimated to be equal to Mexico’s, the sunshine state boasts of some of the large employers you can ever find. According to data, the top industries in Florida include manufacturing, distribution, information technology, financial services, cleantech, and aviation.
Florida’s labor force is projected to grow by 6.1 percent in one year to accommodate the ever-rising job demands. Also note that businesses operating in the states tend to offer around 11,900 jobs in a month, while the private sector employment rate increased by 6.2 percent.
The Sunshine State is also a good location for retirees who are looking to spend the remaining of their days in paradise. The state has a zero income tax policy, and as such it doesn’t impose any taxes on retirement income (including Social Security benefits).
Although this will depend on the area you are living in, but it is still easy to find affordable housing in Florida. According to reports, the median listing home price is $249,900 and $279,000 in Tallahassee and Jacksonville. You should expect to pay a higher amount when looking for a home in top coastal cities such as Miami.
Also note that with the constant influx of migrants every year, bidding wars are beginning to drive housing prices higher in the sunshine state.
Howbeit, you still get the chance to find a residential property for weighs less than the country’s median sales price, which stands at $408,100. Reports note that Dade city boast of being the cheapest place to live in Florida, with a $122,600 median home price and $29,000 median income for the residents. It’s a perfect commuter town for people working in the city.
Zero Income Tax Policy
This is also another very notable reason why people are moving to Florida. If you’re looking to save money on taxes, then you too should consider making the move to the sunshine state. Florida is renowned as one of few states with a zero income tax policy.
While the tax authorities expect you to pay property and sales taxes, the overall state tax load is known to be lower than in other states. Florida also imposes a lower state corporate tax of 5.5 percent and a sales tax of 6 percent.
Coupled with income, there are also no taxes on intangible personal property (including shares), gifts, and inheritances. People who live in Florida enjoy a low tax burden by paying federal income taxes. To keep up with state-funded activities and wages, Florida collects taxes on services and goods like communications services, tobacco products, and fuel.
How Many People Move to Florida Daily, Weekly, Monthly, and Yearly?
Truth be told, people from different parts of the world move to Florida every year, searching for a new life. Below are state-reported statistics on the number of people moving to the sunshine state:
- Daily: According to reports, the sunshine state will have over 845 new residents every day for the next three years.
- Monthly: It is believed that around 24,000 move to Florida every month, most especially within the Covid-19 period
- Yearly: The sunshine state recorded 329,717 new residents from April 2020 to April 2021.
Within the past few years, many people from around the country have decided to move to Florida and the sunshine state’s migration rates are not slowing down anytime soon. Out of the 8.9 million people who changed their addresses at the onset of the pandemic, 28 percent of them moved to Florida. The state has plenty to offer whether you want to be inside or out. You’ll never get bored.