The Case for Moving to FloridaFind Out Why Florida Remains One of the Most Popular Destinations for Moves During the PandemicIt’s no secret that Tampa Bay area residents are seeing more and more
The Case For Moving To Florida
Dated: January 19 2021
The Case for Moving to Florida
Find Out Why Florida Remains One of the Most Popular Destinations for Moves During the Pandemic
It’s no secret that Tampa Bay area residents are seeing more and more out-of-state buyers heading into our real estate market more than ever before.
With the pandemic allowing people the opportunity to work from home (some permanently) and causing people to re-think their plans when it comes to where they want to live in the long-term, Florida has become a more popular choice than ever.
According to recent data from Lending Tree, Florida is by far one of the most popular places in the country when it comes to out-of-state moves. The chart below is based on the moving habits of people in all 50 states, Florida is ranked as the #1 destination for residents to move to in 14 states right now:
The Case for Moving to Florida
Florida was recently ranked as one of the TOP 10 states with the fastest population growth over the past decade, expanding its population over 15% in those years. On an average year, the state of Florida has about 1,000 people moving to the state each day. However, as the Pandemic carries on and 2020 numbers are still being tallied, economists and city planners are expecting to see this number rise.
The Pinellas Department of Economic Development has projected that the population in the Tampa Bay Area will grow by 2 million people by 2030. Additionally, the Florida Chamber of Commerce expects the state's population to grow by 6 million people (meaning 1/3 of that amount will be in the Tampa Bay area!) by 2030 as well.
As far as investing in real estate goes, places like Pinellas County, which is the 2nd smallest county in Florida, with 35 miles of some of the BEST beaches in the state, homeowners are likely to see continued growth in their property investments over the next 10-15 years. Savvy home buyers know that a move to the state, followed by investing in property, is likely going to be a big win for them in the long run, especially if they zero in on places like Pinellas that have limited land and an abundance of popular destinations for tourists and permanent residents alike.
Lastly, as of Jan 1, 2021, Bankrate.com listed the Tampa Bay area as the #1 place to live in Florida, thanks to its more affordable cost of living compared to other popular cities, lower crime rate, and close proximity to our coveted white, sandy beaches in Pinellas County.
The unemployment rate in Florida is just 6.4%. In Pinellas County, the rate is even lower at just 5.4%, meaning it's not hard to find a job here, especially if you're working in the professional services, hospitality, or manufacturing industries.
As residents of our state will tell you, there is NO state income tax in Florida, making the state even more attractive to people who work remotely and are looking for a more affordable place to call home.
So what does this all mean?
Basically, if you're thinking of making a move to Florida or buying a home in Florida, you're likely making a great investment right now, especially if you're headed to the Tampa Bay/Pinellas County areas. If you'd like to learn more about living in Florida, contact us today...we'd love to help you!
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Andrea is the Managing Partner of The Sandy Hartmann Group. Andrea was born and raised in the Tampa Bay area and is a licensed Realtor with over 15 years of Marketing and Finance experience, holding ....
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