Moving to Florida: Pros and Cons Revealed – Is It Worth It?

 

Looking to move to Florida? Think again. Florida’s population is booming, but many newcomers are starting to regret their decision. In the latest report by Business Insider titled “Americans Are Still Moving To Florida. They Might Regret It,” alarming insights are revealed. Florida claimed the title of the fastest-growing state in 2022, with a remarkable 1.9% increase in population, surpassing other states like Idaho and South Carolina. The state’s warm climate, absence of income tax, and abundant recreational opportunities have attracted millions, but is it all sunshine and palm trees? In this video, Miami’s real estate expert, Sharon Colon, uncovers the hidden truths and challenges faced by those who have moved to the Sunshine State.

 

Florida Fastest Growing State

Florida was the fastest-growing state in 2022! This is according to a Census Bureau report. The population of this state increased to over 22 million during the period between July 2021 and July 2022. This represents a 1.9% increase, which was the largest of any American state during this period. In comparison, the population of Idaho increased by 1.8 percent and the population of South Carolina increased by 1.7 percent. And according to Kristie Wilder, a demographer in the Population Division at the Census Bureau, “While Florida has often been among the largest-gaining states, this was the first time since 1957 that Florida has been the state with the largest percent increase in population.”

While many US states are experiencing slowed or negative population growth, Florida’s population has consistently grown since 1946, with a ninefold increase from approximately 2 million residents that year. So, why is the population of this state continuously increasing? 

Well, the Census Bureau suggests that the introduction of air-conditioning in the 1950s was a significant factor in the state’s early growth. With the ability to escape the hot and humid climate, people flocked to Florida, resulting in an average annual population increase of 6%. However, in recent years, the trend of remote work has allowed people to choose where they want to live, and Florida’s warm temperatures and lack of income tax are just a couple of the perks that draw millions to the state. With its beautiful weather, diverse culture, and endless recreational opportunities and lifestyle, it’s easy to see why Florida is a top pick for both tourists and residents alike. But what do you think?Are you considering the move? Don’t forget to share your thoughts in the comments section below. 

 

People’s Thoughts:

Business Insider interviewed many people who moved out of Florida, and some of the reasons people gave included severe weather, low wages, and the loss of the vacation feel. Kimberly Lovelace told Insider, “At first, it still felt like that vacation feel. But as reality sinks in that you’re actually living there, that wears off. Living there is just such a completely different planet.” 

While people moving out of Florida have cited several reasons, the major factor that stands out is affordability. According to a report by CBS News in May 2022, Florida is currently the least affordable state in the entire United States! One of the main reasons people choose to move to Florida is because there is no state income tax, which can save individuals and families thousands of dollars each year. However, what many people fail to consider is that new homeowners still have to pay property taxes, which can be high for some. With property values on the rise in Florida, homeowners are seeing their tax bills increase as well, making it increasingly difficult for some to afford to live in the state. I mean, I have to say that yes, property taxes could be higher compare to other states. However, there are still no income taxes if you are coming from a state having that. Would you rather move to Florida and save on income tax or avoid living in this state due to affordability factors?

I believe that the decision of moving to Florida depends on your own circumstances. While many people failed to adjust and continue living in Florida, there are still hundreds of thousands of people, if not millions, who have benefited by moving to this state.  

 

 

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Sharon Colón
Your Favorite Real Estate Agent in Miami
ΓEA⅃ Broker, LLC
786-376-2398
[email protected]
www.sharoncolonre.com