Florida has been experiencing a massive population boom in the last several years, which can be traced back to several reasons. People are drawn to the quality of life offered in the Sunshine State, ranging from the temperate climate to the financial benefits for residents. Floridians can make their money stretch a lot further than people living in New York or California. For example, the state boasts both no state income tax and a lower cost of living than the national average.
In addition to the inherent benefits of living there, there has been a large growth of entrepreneurship opportunities for Florida residents. It has the third highest rate of new business applications per capita in 2022 and the highest percentage of small businesses in the United States. Even for those not interested in creating their own work opportunities, there is still an incredible amount of work available. Florida saw the third highest employment increase of 2023, standing at 2.8%.
The population growth has not been experienced equally across the entire state. Existing urban centers such as Miami, Orlanda, and Tampa have attracted the largest number of migrants, each clocking in growth rates that are above a staggering 75%. Florida has over 3.1 million new residents in the decade between 2012 and 2022, which is greater than the entire population of 17 states. Learn more about moving to Florida below:
