Florida's population influx post-COVID has sharply declined, with only 64,017 new residents added through net domestic migration in the past year, compared to over 300,000 two years ago. Contributing factors include high home insurance costs and affordability issues, as Florida ranks high in housing costs relative to local incomes. Trends indicate that potential movers are now looking towards Southern states like Texas and Georgia, which offer lower housing costs, consequently reducing Florida's appeal as a relocation destination.
Florida is getting less attention from home shoppers in other states than it was in previous years, and home affordability in the state seems to be the main culprit.
There are indications that other Southern states, including Texas, Georgia, and the Carolinas, are grabbing some of the movers who might otherwise have considered Florida.
Last year, Florida gained just 64,017 new residents from net domestic migration, or the total number moving from another state in minus the total moving out.
Florida has one of the highest ratios of home prices to local incomes in the South, making it relatively less affordable than many of its neighbors.
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