You don’t need to look far to notice that more people are moving in to Florida, as opposed to moving out. It is estimated that approximately 808 people move into Florida each day. For more information about this, check out our previous article titled “Moving To Florida”. Of course, we also see people moving out of the state for various reasons. So what are the most common reasons for people moving in and out of Florida? We discuss below.
Reasons for moving
Overall, Florida is considered to be an “inbound” states for residents. This means that the state has at least 55% of people are moving in, as opposed to out of it. Typically, the most common reasons for a move cited by movers across the country is due to a new job, a company transfer for work, or to be closer to family. As for Florida, the top two reasons differ. Over the past several years, the most common reasons for moving to Florida have been:
- Retirement
- Lifestyle change
As for the most common reasons for Floridians moving out of the state, they are similar to what we see across other states:
- Moving closer to family
- A new job
Key demographics of inbound moves to Florida
A recent United Van Lines 2022 National Mover Study gave some insights into some key demographics such as the average age and income of inbound movers to The Sunshine State. As for the average age for inbound and outbound moves, the older demographic tended to dominate in Florida. Over 69% of United Van Lines’ movers headed to Florida are older than 55, and nearly 39% are 65 or older. As for those moving out, approximately two in three (66%) were older than 55. Of those aged 35 to 44, we saw 10.18% of these being inbound while 11.58% were outbound. With this said, it should be noted that Florida is still seeing an overall greater number of younger people moving into the state.
As for average income of those moving into the state, nearly half (48%) of those moving into Florida reported an income of $150,000 or more. Meanwhile, approximately 37% of those moving out of the state reported an income of $150,000 or more. Not surprisingly, more movers with an average income of under $75,000 were reported to be moving out of Florida, as opposed to moving in.
Summary
Overall, Florida continues to be an appealing destination for all walks of life. Of course, higher home prices have made it more challenging for those with lower incomes to move into the state. Nonetheless, in addition to its beautiful beaches, tropical climates, and favorable tax environment, Florida has also been attracting various industries and has quickly become an economic powerhouse.
Are you considering a move to South Florida? We can help! Contact Natasha at Live South Florida Realty, Inc. today! Also, be sure to download the free Florida Home Search app for your mobile device as well.
