Florida Ranked #1 For Net Domestic Migration

Florida Ranked #1 For Net Domestic Migration

Florida ranked No. 1 in the country for largest net domestic migration gains (220,890) between July 2020 and July 2021, according to recent U.S. Census Bureau data. Texas (170,307) and Arizona (93,026) round up No. 2 and No. 3, respectively.

With a population of 21,781,128 in July 2021, the Sunshine State grew by 211,196 residents during that period.

By comparison, the largest domestic migration losses were in California (-367,299), New York (-352,185) and Illinois (-122,460) during the same time period.

Many people as well as businesses are choosing to move to Florida, and it’s no secret that Miami offers a great quality of life and low taxes.  Now more than ever companies and employees have the option of working remotely.  As a result, Miami is undergoing a transformation as many tech and private equity companies are relocating to or expanding their offices in South Florida. The migration to Florida in part is driven by Miami tech job listings grew faster than any other major U.S.

According to Miami’s Mayor, Francis Suarez, “We’re seeing mass migration from two mega capital centers — the Bay Area and Silicon Valley and New York,” the mayor said. “They’re going to converge in Miami and that’s going to create more capital than we’ve ever seen.” The good news is that this will bring higher income jobs to Miami.

If you’re thinking of selling and curious about the value of your home in today’s evolving real estate market, contact Rebeca Castellon Group today. We would be happy to provide you with a no pressure home valuation and help you reach your real estate goals!

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