- Data shows that hundreds of thousands moved into — and out of — Florida between 2021 and 2022.
- Many folks moving out are going nearby to Georgia, North Carolina, and Texas.
- Those moving in are coming from states such as New York and California.
Wealthy out-of-staters have bought homes at extraordinary prices in Florida, reshaping the market. Insider previously reported that this has led to others feeling priced out and considering moves.
Newly released census data showed relocation patterns tied to the Sunshine State.
Between 2021 and 2022, nearly 739,000 people moved to Florida. Meanwhile, according to the data, almost 490,000 people also left the state during that period.
"I think this is the biggest migration that we're going to see certainly in our generation — but maybe in our lifetime," Holly Meyer Lucas, a real-estate agent in South Florida, told Insider, referring to the rush of wealth flooding housing markets into tax-friendly states such as Florida, Arizona, and Texas.
Floridians who left stayed in the South, Georgia was the most popular spot for Floridians to move to, followed by Texas.
Meyer Lucas said that Floridians moving to Georgia, Texas, and North Carolina have the same impetus for leaving. Likely, they are middle-class people such as teachers, nurses, police officers, and firefighters who lived in areas of Florida — such as Jupiter and Palm Beach, where Meyer Lucas is based — that have been inundated with a wave of wealthy newcomers driving the cost of living up, she said.
New Floridians are former New Yorkers or Californians
The census data shows that Florida received more transplants from New York than any other state between 2021 and 2022, and by a fair margin.
More than 91,000 New Yorkers moved down to Florida, while about 50,000 Californians relocated to the Sunshine State.
Tax-friendly policies and warmer weather have drawn wealthy people to Florida for years. Now with remote work, they seem to have decided to stay forever — sometimes bringing their investments and companies with them.