For years the sunshine state has been one of the most popular states to move to in the United States. In fact, the entire Southeastern United States is a hotbed for migration.
However, just because tons of people are moving into Florida, doesn’t mean tons of people are leaving.
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Living in Florida has its perks, with stunning beaches, abundant entertainment options, and a wealth of amenities. However, an increasing number of people are choosing to leave the Sunshine State for various reasons.
In this article, we’ll delve into three primary reasons why people are opting to leave Florida, including escaping high costs, grappling with insurance challenges, and contending with the state’s climate complexities.
How many people are leaving Florida and where are they going?
According to the US Census Bureau state to state migration flows, an estimated 275,266 people left Florida in 2022. That means that nearly 754 people are choosing to leave Florida every day and nearly 23,000 people are leaving each month (as of 2022).
So where are people going?
The top five destinations for people who left Florida in 2022 were:
- Georgia (46,884)
- North Carolina (42,301)
- Tennessee (36,200)
- South Carolina (31,456)
- Texas (29,975)
As you can see, most people who leave Florida are heading to nearby states or oddly enough—Texas.
There are many reasons why people are leaving Florida, let’s dig into it a bit.
Three Reasons People are Leaving the Sunshine State
Reason One: Escaping High Costs
Look, Florida isn’t quite as cheap as you might think. That doesn’t mean it’s unaffordable; it simply means it’s not as cheap as Mississippi, Alabama, or Arkansas—notoriously low-cost states.
And, if you think about it, Florida shouldn’t be cheap from a supply and demand perspective.
What we are trying to say is that Florida offers a combination of advantages such as affordable higher education, access to quality K-12 education, stunning beaches known worldwide, clear blue waters, five major cities with excellent amenities, and an abundance of entertainment options. Considering all these factors, it is understandable that Florida is not a “cheap” state.
So what are we talking about when we say people are escaping high costs in Florida?
Housing Costs in Florida
When we talk about people escaping high costs in Florida, we are referring to certain aspects that can contribute to the overall cost of living.
Housing prices in Florida have been on the rise. We hear potential clients say all the time, “I thought Florida was supposed to be cheap?”
Well, more affordable than the Northeast and West Coast? Probably.
Are you getting 5 bedrooms and 3 bathrooms in a gated community for under $300k? No.
The Florida housing market is buzzing with activity, and while prices may be on the rise. Last month, the median sale price of a home in the Sunshine State reached $595K, showing an impressive and/or depressing 47.6% increase compared to the previous year—depending on your financial situation.
Indeed, the real estate market is thriving, making it difficult for numerous individuals to purchase a new property. As a result, many are opting to relocate to neighboring states such as Georgia, Alabama, and Tennessee.
Property Taxes in Florida
Property taxes can also be a consideration for residents in Florida. The state does not have a state income tax, which is a win, but some of those savings can be offset by higher property taxes than neighboring states.
As can be observed below, each of the surrounding states boasts a lower average home sale price compared to Florida. Not only that, but all of them, except Georgia, also have more affordable property tax rates.
Florida:
Georgia:
North Carolina:
South Carolina:
Tennessee:
Alabama:
Mississippi:
However, property taxes can vary based on the county and assessed property values.
It’s also important to note that none of the neighboring states can offer what Florida can offer as a whole.
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Daily Expenses in Florida
The cost of living is going up in Florida. It’s not going gangbusters, but it’s getting more expensive.
However, we believe that people may be prematurely jumping to conclusions.
We’ve received reports of people relocating due to high living costs, but upon closer investigation, the expenses are not exorbitant whatsoever, and we believe they should not be considered a valid reason to leave the state.
In terms of everyday expenses, Florida does offer some affordability.
The state’s overall cost of living is slightly below the national average. According to the Bureau of Economic Analysis, Florida’s regional price parity index was 97.2 in 2019, indicating that the cost of goods and services in the state is slightly lower compared to the national average.
If you look at it through the lens of “national average,” then Florida is going great. Costs are below the national average in most areas of expenses.
However, if you look at the map below, you’ll see that Florida is far more expensive than neighboring states.
And these actual spending numbers help to further illustrate the point that Florida is quite a bit more expensive than neighboring states.
Is this the reason people are moving to neighboring states? Well, it’s possible, but the differences in spending—outside of housing—isn’t astronomical.
It’s also important to note that the cost of living can still vary within different regions of Florida. For example, Miami and Fort Lauderdale would be far more expensive than Gainesville or Jacksonville due to the amenities and proximity to warm coastal waters.
Ultimately, the perception of high costs is relative and depends on individual circumstances, lifestyle choices, and comparisons to other states.
Florida continues to attract residents with its unique advantages, but it’s crucial to research and plan accordingly to ensure a comfortable and affordable living experience.
People are tired of the taxes
Wait, Florida doesn’t even have a state income tax, so what gives? Yes, but they do have other taxes to consider that are above the national average.
Okay, it looks expensive, but is it really?
Well, not really—especially when we consider the neighboring states.
Florida is, in fact, an incredibly affordable location in terms of taxes, particularly for businesses.
“Florida has a relatively favorable tax climate, with a low corporate tax rate, no state income tax, and relatively low property taxes. The state’s sales tax rate is higher than the national average, but it is still relatively low compared to other states.”
— Taxfoundation.org
Although many individuals believe they are burdened with excessive taxes, the reality is that Florida stands as one of the most economically feasible states nationwide, particularly when taking into account personal and business taxation.
Keep in mind, Florida is only marginally more expensive than neighboring states and in some areas, not at all.
Reason Two: Florida’s Insurance Problem is Chasing People Away
Florida has a major insurance problem. Not only is insurance expensive, but it’s also getting hard to acquire.
In fact, when people move here, this is one area they are most surprised by. Insurance is a wild ride in Florida.
Florida’s insurance situation is undeniably problematic. It presents a two-fold challenge: high costs and increasing difficulty in obtaining coverage.
When we made the decision to relocate to Florida, we encountered a surprising reality—the rollercoaster ride of insurance.
Let’s delve into some data to paint a clearer picture of the insurance landscape in Florida:
- Expensive Premiums: Florida residents face some of the highest insurance premiums in the country. Homeowners insurance rates, for example, can be substantially higher due to the state’s vulnerability to hurricanes and other natural disasters. For a $300,000 home, annual premiums can reach upwards of $3,000 or more.
- Limited Availability: Acquiring insurance coverage is becoming increasingly challenging in Florida. As insurance companies grapple with the risks associated with the state’s unique climate and geographical factors, they often impose stricter eligibility criteria and higher deductibles. There are only about 15 companies left providing coverage to over 20 million people.
- Rising Flood Insurance Costs: Florida’s proximity to the ocean and extensive coastline exposes many areas to flood risks. As a result, flood insurance rates are on the rise, burdening residents with additional financial strains. Annual premiums for flood insurance can range from several hundred to several thousand dollars, depending on the property’s location and flood zone designation.
- Property Insurance Market Volatility: The property insurance market in Florida is marked by volatility and frequent rate hikes. Insurers frequently adjust their rates and coverage terms to mitigate their own risks, leaving policyholders vulnerable to unexpected changes that can impact their financial stability.
- Car Insurance Nightmare: Several factors influence car insurance in Florida, such as the state’s no-fault system, the prevalence of uninsured drivers, and the mandatory Personal Injury Protection (PIP) coverage. These contribute to increased costs and premiums. Fraudulent claims and staged accidents further drive up insurance rates.
Where you live really matters and can help mitigate insurance issues.
Coastal cities in Florida, like Miami, Fort Myers, and Tampa, face greater insurance challenges due to their vulnerability to hurricanes, storm surges, and flooding.
Insurance premiums in these areas tend to be higher, with stricter coverage requirements.
Inland cities such as Orlando generally have lower insurance costs, but factors like proximity to lakes or rivers can still impact rates.
It is crucial to consider that Florida’s insurance issue impacts the entire state, and elements such as weather patterns and building codes play a role in shaping the insurance situation as a whole.
We do believe people in coastal areas are justified leaving the state. It’s expensive to insure your home and car and companies are leaving in droves.
Reason two: Climate Challenges
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With warming oceans, increased hurricane activity, and devastating storm surges, Florida isn’t the safest place to live in coastal areas.
Since 1953, Florida has consistently been ranked as the fifth state with the highest number of federally declared disasters.
With 130 federally declared disasters since 1953, Florida hurricanes have devastated coastal homes.
The state’s unique geographic location makes it susceptible to a range of natural hazards, including hurricanes, tropical storms, floods, and storm surges.
Hurricanes pose a significant threat to Florida, with its long coastline exposed to the Atlantic Ocean and the Gulf of Mexico. The state has witnessed several devastating storms, such as Hurricane Andrew in 1992, Hurricane Irma in 2017, and the recent Hurricane Ian in 2022 which caused 160 deaths and an estimated $65 billion in property destruction.
These events resulted in widespread property damage, infrastructure disruptions, and displacement and death of residents.
In addition to hurricanes, Florida faces other weather-related disasters. Heavy rainfall and tropical climate contribute to the risk of flooding, particularly in low-lying areas.
The state’s extensive wetlands and marshes also make it prone to water-related emergencies.
The National Center for Environmental Information shows just how many areas are prone to flooding risk in Florida.
As you can see, the southern coastal areas are at risk as well as the panhandle area.
So yes, people are well within their right to want to move away from Florida due to mother nature’s devestation.
Would we move from Florida because of climate challenges?
No, we instead chose to live in an area with very little hurricane and flooding risk—West Orlando. Our high elevation and central location has created one of the safest areas in Florida from storms and flooding.
We wrote all about West Orlando’s safety in a previous blog and the impact of hurricanes and flooding.
Reason Three: The Hot Weather is Too Much
It’s hot here in Florida, make no mistake about it.
The intense heat and prolonged hot summers can be challenging for some, leading people to consider relocation and in some cases, they end up moving.
One of the primary factors that make Florida too hot for some individuals is the extreme heat. The state experiences high temperatures throughout the year, with summers being particularly scorching.
Daytime temperatures often soar into the 90s Fahrenheit (30s Celsius) and can even reach over 100 degrees Fahrenheit (38 degrees Celsius).
And something we’ve noticed is that older people in Florida tend to deal with the heat with less enthusiasm.
Another aspect of Florida’s climate that may deter some individuals is the high humidity. As you can see, the majority of cities in Florida, spanning from the southernmost point to the northern border, will endure significant humidity for a period of seven to eight months annually.
Another reason why people leave is because of Florida’s limited change in seasons. Unlike regions with distinct seasons, Florida doesn’t have a true fall, winter, or spring.
In fact, it’s kind of hot all the time. Sure there are some sweater weather weeks, but in truth, it’s just always “warm”.
The lack of temperature variation can lead to a sense of monotony and make it challenging for individuals who enjoy experiencing different seasons.
We moved from seasons, but unlike people who miss them, we just board a plane and fly to them instead. And honestly, we love the winter here in Florida.
In addition to the extreme heat and humidity, Florida’s abundant vegetation and diverse ecosystems can contribute to high allergen levels. Pollens, molds, and other allergens thrive in the warm and humid environment, leading to increased allergies and respiratory issues for some individuals.
People may find their allergies are too much in Florida’s rainy summer and head for dryer climates.
Florida’s hot climate may be attractive to many people, but it can be too intense for some individuals due to the long hot summers, high humidity, limited seasonal changes, rainy season, and high allergen levels.
Conclusion
While Florida boasts its fair share of attractions and benefits, it’s undeniable that some individuals find the state’s drawbacks challenging enough to prompt their departure.
Escaping high costs, navigating insurance problems, and grappling with the intense climate are among the key factors influencing their decisions.
Rising housing prices, property taxes, and daily expenses contribute to the perception of a high cost of living. Not to mention, insurance challenges, particularly related to high premiums and limited availability, add to the frustrations.
Furthermore, Florida’s susceptibility to natural disasters and its scorching heat, coupled with intense humidity and limited variation in seasons, can create an unpleasant environment for certain people.
Ultimately, each person’s circumstances and preferences differ, and careful consideration of these factors is essential in determining whether Florida is the right fit for them.
Source: https://t-tees.com
Category: WHY
