Florida population is growing at a rate of 950 domestic migrants a day, so what is a domestic migrant? Domestic migrants are defined by the tax records of citizens in other states moving to Florida, according to U.S. Census data, Florida has the highest level of net domestic migration. So where are most of these people coming from? Northern states such as New York, Illinois, New Jersey, Connecticut, and Massachusetts based on tax return filings are the most migrants followed by other Northeastern and Mid-Western States.
So why Florida? Other than the most obvious reason the weather is Florida residents pay no state income or estate tax and get homestead exemptions of up to $50,000 on primary residences, as well as a 3% cap per year on home assessments. Also, new Florida residents tell us that they were able to get more space and better-quality homes in their price ranges compared to the states they fled from.
With 950 new domestic migrants moving to Florida daily that equals a new city bigger than Orlando being added to the state, but not to worry we have room for many more!
Dick Betts, REALTOR®
The Betts Team
Touchstone Real Estate
The Villages, Florida