New York survived an exodus during the pandemic.
Numerous New Yorkers who could work remotely and were seeking warmer climates and affordable housing departed the city.
According to the information from Florida's Department of Highway Safety and Motor Vehicles, about 65,000 New Yorkers switched from their state driver's licenses to Florida's in 2022. That surpassed the previous year's record when about 62,000 New Yorkers relocated to Florida.
In addition to the appeal of warmer weather and lower taxes, some claim that the policies of Florida during the COVID-19 era that opened up the state's economy sooner than others also aided the state.
"People talk about the Florida lifestyle and weather, but they also say government policy, like during COVID when our city was more open and lenient on things, as another reason why they came here," said Jackie Bild, a real estate agent in Miami.
Bild said about 30% of her clients in the past year were from New York City.
And it's no longer retirees.
Florida is changing
According to the Census Bureau's 2021 American Community Survey, Florida saw net generational gains from millennials to baby boomers. New York saw net migration losses, except for Gen Z, the youngest of adults.
Bild said employees follow companies as they relocate their headquarters to South Florida.
The top income tax rate in New York State is 10.9%, while the top rate in New York City is 3.876%. If you work and live in New York City, your overall tax rate might be as high as 14.8%. No matter where you live in Florida, there is no income tax to pay.
In New York, the median sale price of a home was $486,200, while in Florida was $386,500.
But, that accessibility might soon be disappearing. Like with everything else, affordability varies.
What do you think about Florida newcomers?
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