33,565 New Yorkers exchanged their New York drivers licenses for Florida credentials, a 32% increase.
The top counties New Yorkers are migrating to?
Palm Beach: 14,045 New Yorkers
Broward: 8,422 New Yorkers
Miami-Dade: 8,033 New Yorkers
Thousands of Californians and New Yorkers, including celebrities and major tech companies, have made the move to South Florida due to, year-long warm weather, lessened COVID-19 restrictions, tax benefits, and property value.
115 people are moving to the Tampa Bay area per day, and nearly 1,000 people move to Florida every single day.
An influx of New York-based businesses, as well, financial firms to restaurant concepts, who are opening over six restaurants in Miami-Dade County.
Rent in Miami has been climbing even during the pandemic.
The average apartment rent in Miami was $1,768, up 2.9 percent from last year.
Miami Beach had an average rent of $2,064 and in Homestead, where many fled to escape the skyrocketing rents the average apartment price went up to $1,339 per month.
"Prior to the pandemic, rents were increasing faster than home values. Then we had the situation with the pandemic, and we had this buying frenzy around the world. That has created a very unaffordable situation for anyone who would want to live in Miami," Ned Murray, associate director of Florida International University's Jorge M. Pérez Metropolitan Center said.
The housing market across the U.S. saw a home-buying frenzy, which has led to rising rents because there are fewer homes to go around. The growing housing crisis is particularly bad in Miami.
"It's just incredible demand and a shortage of supply. We just haven't built market-rate housing [in Miami]. We've obviously made high-end housing, but even market-rate homes that people can generally afford, [housing] that's not subsidized or affordable under some government program — we just haven't built any," Murray says. "Nothing has been built in decades."
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