Why are so many people moving to Florida? A wallethub study showed that Florida was the #2 state in the US to move to for retirees, but keep reading because you may be surprised that MOST of the top seven reasons people move to Florida have NOTHING to do with retiring.

1. The first, and perhaps most obvious reason people move to Florida is the weather. The winters here have what I believe is the best weather, with average highs in the mid-70’s and average lows in the low 50s. That’s pretty nice, but the summers do get hot, which may be why there are so many swimming pools here and why our beaches are such a big deal. Average highs in July run in the mid 90’s and the lows run in the low to mid 70’s. Here in Florida, you cannot even FIND snow shovels at the hardware store. For that matter, it’s hard to find a good winter jacket. So many Floridians are former Yankees, myself included, that came to Florida to avoid the harsh winters and take advantage of all of this sunshine. Here in the Orlando area, we often get a couple freezes each year, with some years getting no freezing at all. Heading south of Orlando will get less, if any freezing. You might think that the temperatures rise as you had south of Orlando, but I don’t think that’s really the case. Maybe it’s the sea breezes that keep the temperatures moderate, or…heck, I don’t know.
2. The next reason so many people move to Florida is because Florida’s boasts relatively low taxes. In fact, Florida has the second lowest tax burden per capita in the United States. Florida has no state income tax, which is the primary reason Florida received this ranking. Additionally, Florida’s Homestead Exemption keeps taxes low for homeowners and other sources of income like capital gains, state inheritance, Social Security benefits and retirement income aren’t taxed either. Plus, the corporate state taxes are low, making it fertile ground for businesses to thrive here. When businesses thrive, a strong economy follows. Florida’s economy and job market has been and continues to be strong.
3. The low tax rates are just one reason that residents of high-tax states like California and New York are flocking to Florida. In spite of huge price increases in recent years, Florida remains in the middle of the road in overall affordability. One website I looked at noted that Florida was #29 in overall cost of living. I’m not sure if its simply supply and demand as more people come here for the sunshine or what, but I believe Florida used to rank even better in overall affordability. Florida is well-known for its beautiful beaches. It’s also well-known that it’s expensive to LIVE ON those beaches. However, most of us DON’T live on those beaches. A similar home may cost $200,000 more for an identical home very close to the beach as one inland, say just 30 or 40 miles. I’m not even talking about ON the beach, just NEAR the beach.I believe that the high cost of BEACH properties skews the overall cost of real estate here in Florida. The median sale price of a home in the last 90 days since this recording in Orlando was right around $390,000, whereas the median sale price of several of Orlando’s suburbs have median prices lower than $350,000. Yes, 350 grand is still a lot of money to most of us, but comparatively it’s not too bad. With everyone flocking to Florida for our housing and weather, Florida’s affordability has taken a hit in recent years.
4. With all of this great weather there’s plenty TO DO here in Florida. Of course, here in central Florida we’ve got all the theme parks: Disney, Sea World, Universal, Islands of Adventure, Busch Gardens, some water parks, Kennedy Space Center, and…I could keep on rambling here. People come from all around the world to see these attractions and when friends and family come to town, we’re all about that touristy action. However, that IS NOT what most of us spend our recreational time doing. We’ve got all sorts of beautiful springs, top-rated beaches, lagoons, and lakes-we’ve actually got more lakes than like 42 other states, so if water is your thing-Florida has you covered. Florida has some lesser-known tourist destinations, too. My wife and I LOVE St. Augustine, Tarpon Springs, Silver Springs, Venice Beach for shark’s teeth. Again, I could go on and on, but everything I’ve just noted is less than a couple hour’s ride from here in Central Florida. 365 days of sunshine allows us to kayak, fish, hunt, hike, golf or disc golf, whatever your thing is all year long, and it’s especially enjoyable in the winter when it’s sunny and 75 degrees for SOOO many days.
5. When I first moved to Florida from Michigan back in the 80’s I remember that it just seemed like things moved a bit more slowly here. I also lived in New York for a time, and I can tell you that things are WAYYY slower here in Florida than up there. It seems to me that it’s a faster pace than say Georgia or Tennessee, but people here seem to be more concerned about the life they live. People come to Florida to LIVE, so there’s a bit less of a rush as there was in Michigan or New York. It’s not that the people here are lazy or unmotivated or anything like that, I just think that there’s a bit more LIVING going on here. Yes, there’s plenty of commerce and competitive jobs, but I believe there’s more of a philosophy here that life is meant to be lived, not just worked.
6. Florida is a great place to retire. We’ve already addressed the tax benefits, so I won’t repeat all that. But Florida has always been a haven for retirees. As such, Florida’s healthcare system caters to the needs of our retirees. Florida is LOADED with active adult 55+ communities, and I’m not talking about some little 55+ mobile home park like you might think-THEY’RE NICE! I’ve learned that although these communities are nice, they aren’t nice for real estate purposes, they’re nice for the community that they provide. These communities provide all sorts of recreational and social activities that build relationships, it’s amazing. Many of them take care of all the yard work and exterior maintenance, so it relieves the pressure that many retirees face to maintain their homes. I’ve helped many customers buy and sell their homes in all sorts of these communities throughout Central Florida, so I can tell you from experience that they’ve got a lot to offer. I’m not an HOA guy, but I am envious of what some of these communities offer. Some of these are pricey, but when comparing the options for retiree housing across the country, there are plenty of AFFORDABLE housing options right here in Florida, especially if you’re willing to be outside of one of our major cities.
7. I briefly noted earlier that here in Florida, it’s about LIVING. Last year we had like 137 MILLION tourists come to Florida. Frankly, us locals take that for granted, but it doesn’t mean we aren’t taking advantage of it. Yes, we travel to other parts of the country and the world like everyone else, but right here in Florida, we can vacation WHERE WE LIVE. It’s quite common that even those of us in Orlando will vacation right here at the attractions or one of our world-famous beaches. It’s nice when you don’t have to run through the theme parks at a frantic pace just to GET THROUGH IT, we can take a couple days for a single park and actually enjoy the experience.Furthermore, they’re always running Florida Resident specials, making it even more affordable. My wife and I have headed over to the Tampa St. Pete area to spend the weekend and those beaches are VERY different than those on the east coast, so it’s a great vacation. There is SO MUCH to do right here within two hours of Central Florida that I’m always feeling like I’m missing out. I don’t know if I’ll even see ALL of it.

If you are thinking of moving to or from Florida, or are just curious what your home in Central Florida is worth in today’s market, please give me a call or send me an email.

Published on September 01. 2023 / Tags: Central Florida Real estate, Move to Fl, Moving to Central FL, Moving to Florida, Moving to Orlando, real estate trends / no comments.