South Florida has surpassed New York City in cost of living, according to a new report from Bloomberg. The study said this is being driven by a sharp rise in the Consumer Price Index and soaring homeownership costs in recent years.
For decades, Florida attracted out-priced New Yorkers with no state income tax and a comparatively affordable lifestyle.
South Florida is now more expensive than New York City
Now, cities like West Palm Beach are drawing Wall Street billionaires, leaving other residents facing the highest insurance costs in the country and a growing debate over a property tax revolt.
The Bloomberg study cited the U.S. Bureau of Economic Analysis’ latest annual price-comparison report, which examined 2024 data…