NYC metro posters highlight St. Petersburg’s beautiful beaches, and Times Square billboards promote #MovetoMiami.
Considering migration numbers, Florida may not need to advertise.
According to Census Bureau data, New York has sent the most citizens to Florida since 2016. Many New Yorkers who could work remotely and wanted warmer weather and cheaper housing departed the city during the coronavirus outbreak.
According to the New York Post, 65,000 New Yorkers switched to Florida driver’s licenses in 2022. Last year, 62,000 New Yorkers moved to Florida, setting a record.
Some think Florida’s pandemic-era government lockdown policies that freed up the state’s economy sooner than others aided the state, along with warmer weather and lower taxes.
Although the coronavirus was still growing, Republican Florida Gov. Ron DeSantis abolished all restrictions on restaurants and other establishments and prohibited municipal fines for not wearing masks in September 2020 to open the state’s economy. Pandemic-era lockdowns in New York and California were lifted more than nine months later.
Since the pandemic, Douglas Elliman real estate agent Jackie Bild in Miami has helped many New Yorkers move to Florida.
“People talk about the Florida lifestyle and weather, but they also add government policy, like during COVID when our city was more open and tolerant on things, as another reason why they came here,” she says.
As the exodus continued, Empire State Democrats capitalized.
After Florida’s Parental Rights in Education Act dubbed the “Don’t Say Gay” law, was passed last April, New York City Mayor Eric Adams, a Democrat, launched billboard ads in five Florida cities denouncing the law and inviting Floridians to move to New York, “a city where you can say and be whoever you want.”
The Democratic governor of New York, Kathy Hochul, said former New York State Sen. Lee Zeldin, Dutchess County Executive Marc Molinaro, and former President Donald Trump belonged in Florida.
Just take a bus to Florida, OK? Leave town. You don’t represent our ideals. “You are not New Yorkers,” she remarked at an August campaign press conference.
Bild claims 30% of her buyers in the past year were from New York City, and over half of her clientele in the prior two years were from out of town.
No longer simply retirees.
According to the Census Bureau’s 2021 American Community Survey, Florida gained individuals of every generation, from millennials to baby boomers, while New York lost all generations except Gen Z.
Bild reports companies are shifting their headquarters to South Florida, bringing their personnel. Last year, the famous hedge fund Citadel moved its headquarters from Chicago to Miami. Miami became “Wall Street South” as Blackstone and Goldman Sachs expanded.
“Then you have successful people with enormous enterprises who want to establish residency in Florida to save on taxes, “said. “You no longer have to go to the office in the cold for many jobs. It’s cheaper than NYC. Why not Florida?
New York’s top income tax rate is 10.9%, and NYC’s is 3.876%. If you live and work in New York City, you may pay 14.8%. Florida has no income tax.
New York’s median home price in January was $486,200. Florida’s $386,500.
Yet affordability may soon disappear.
The December RealtyHop Home Affordability Index found Miami to be the least affordable city, followed by Los Angeles and New York.
$595,000 became $598,000. 86% of the typical $44,581 household income goes to housing.
In New York City, where the typical home price was $885,750, a resident earning $68,129 must spend 79% of their income on housing, or $4,483.45 a month.
Affordability is relative.