Why New Yorkers Moving to South Florida Brought a $9 Billion Boom
Between 2018 and 2022, more than 30,000 New Yorkers relocated to South Florida, bringing with them $9.2 billion in income. This large-scale movement isn’t just about weather or lifestyle, it reflects deeper trends in taxation, cost of living, and long-term wealth planning.
Let’s break down what this migration means for buyers, sellers, and the future of our market.
A Massive Wealth Migration From NYC to South Florida
$9.2 Billion in Income Has Relocated
According to a new report from the Citizens Budget Commission, from 2018 to 2022:
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Palm Beach and Miami-Dade Counties gained more than 30,000 former New Yorkers
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These movers brought $9.2 billion in income with them
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In Palm Beach County alone, 20,000 newcomers had an…
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