Once a lighthouse of opportunity, Florida now faces an exodus as new residents struggle with soaring costs, political turmoil, and climate change.
Fort Lauderdale, FL—Florida has experienced a significant influx of new residents over the past few years. This phenomenon, often referred to as the “Great Florida Migration,” saw hundreds of thousands of Americans relocating to the Sunshine State. However, recent trends indicate a reversal, with many of these new residents now leaving in what is being termed the “Great Florida Exodus.”
In an unexpected reversal of fortune, Florida, once the top destination for Americans seeking sun, sand, and a lower cost of living, is now experiencing a mass exodus. After a decade of unprecedented growth, many of those who flocked to the Sunshine State during the Great Migration are packing their bags and leaving. What’s driving this sudden shift, and what does it mean for the state’s future?
The increasing cost of living in Florida is also a significant factor driving people away. Housing prices have experienced a sharp increase in recent years, posing challenges for young professionals and families looking to purchase a home. Furthermore, while Florida’s property taxes remain competitive on a national scale, they have also contributed to driving up the cost of living.