Florida's Domestic Migration Slows Amid Rising Costs

Florida has experienced a slowdown in net domestic migration, a shift from previous trends where the state was a major draw for movers from other parts of the United States. This cooling trend in population influx has been observed in recent years.

Once a major draw for movers from other parts of the U.S., Florida is now experiencing a significant slowdown in net domestic migration.

Factors Contributing to Slower Migration

Several key factors are contributing to this slowdown:

• Rising Costs: The increase in the cost of living, particularly housing, is a significant deterrent. Florida's median home-sale price climbed from $298,100 in December 2020 to $412,100 by December 2025, according to Redfin data. Rent prices have also seen substantial increases.
• Higher Insurance Premiums: Home and flood insurance costs have risen due to more frequent and severe natural disasters.
• Congestion and Development: Long-term residents have expressed concerns over hyper-development, increasing population density, and significant traffic congestion.

Shifting Demographics of Newcomers

While overall domestic migration has slowed, Florida continues to attract certain groups:

• International Buyers: The state remains a destination for international buyers, often driven by tax advantages or geopolitical reasons.
• Wealthy American Buyers: Real estate agents note a change in client demographics, with a higher proportion of affluent American buyers compared to pre-pandemic times.
• International Migration: Net international migration to Florida remains positive, indicating more individuals are immigrating from other countries than leaving for destinations outside the U.S., although this growth has also seen a cooling.
• Domestic Non-Citizen Movement: Census data indicates an increase in non-citizens relocating from Florida to other U.S. states, rising from approximately 30,000 in 2022 to 53,500 in 2024.

Experts suggest that affordability is a primary driver for domestic moves, and Florida's increased expenses have reduced its appeal compared to other regions. Despite the slowdown, the state is still considered a popular destination, but its population is expected to grow at a slower pace.

Affordability is a primary driver for domestic moves, and Florida's increased expenses have reduced its appeal compared to other regions.