Florida’s Economy

First, there’s the obvious economic factor. Florida boasts lower housing costs than the rest of the destination states in the U.S. such as California, New York, and Washington. In addition,  Florida has no state income tax, whereas California has a 13% income tax and New York has 9%. Florida also has less than 1% property tax.

Beachfront properties in Florida aren’t as expensive as you may have thought. In CBS’s list of 10 of the cheapest beach towns in the U.S., five of them are in Florida. All of them have a median price of under $250,000, and some even under $100,000. These include cities like Delray Beach, Deerfield Beach, and Hobe Sound.

There’s a lot of opportunity for business owners and young professionals in Florida. According to the Florida Chamber of Commerce’s data for 2020, if Florida were an independent country, it would have the 15th largest economy in the world. While some of that is due to Florida remaining open during the pandemic when many countries and states shut down, Florida had the 17th largest economy prior to the pandemic.

Even during the pandemic, the rates of people moving to Florida barely budged even though the tourism industry took a hit. These trends are due to the state barely flinching when most shut down completely. The tourist industry in Florida suffered because the overall tourism industry, including transportation, took drastic measures to mitigate the spread of the disease.

People Move for Florida’s Nature & Lifestyle

You can’t forget the fact that Florida is a massive state with a ton of personality. No matter what kind of lifestyle you picture for yourself, there’s sure to be a city in Florida that matches. The diversity of cities you can find is unmatched throughout the entire United States. Young professionals can dive into the thriving economy of Miami. Retirees have plenty of choices, from Sarasota, The Villages, Port St. Lucie, and many more. For those looking for something between the bustle of Miami and the relaxation of Sarasota, there are cities like West Palm Beach and St. Petersburg.

Florida is home to some of the most diverse natural land in the United States. The state boasts over 1,350 miles of coastline on both the Gulf of Mexico and the Atlantic Ocean. That’s more than enough beach for all of your tanning, beach volleyball, and snorkeling needs. Coral reefs, barrier islands, magnolia trees, palm trees, marshlands, and warm weather attract folks from around the world to vacation in Florida. And a lot end up staying!

While the tourism industry will remain strong in Florida for the foreseeable future, the overall population and economy will continue to grow. Even throughout the pandemic, there aren’t any signs of Florida’s growth slowing down. Among the bright economic prospects, warm climate, and attractive landscapes, there are more than enough reasons for people to move to Florida. So if you’re thinking about moving to the sunshine state, our moving company in South Florida can help you out. Give us a call or contact us today to get started with a free moving quote!

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