More People Are Choosing to Move to Florida

When it comes to packing up and moving to a new region of the country, Florida has been one of the most popular choices for decades, and there is no evidence that this trend is disappearing. The state is famous for its mild climate and the lack of a state income tax, which makes it ideal for retirees living on a fixed income, families just starting out, and everyone in between. 

According to a report issued in January by U-Haul, data confirms that migration to the Southeast and Southwest U.S. increased during the pandemic and continued throughout 2022. The U-Haul Growth Index is compiled according to the net gain of one-way U-Haul trucks arriving in a state or city, versus departing from that state or city, in a calendar year. Migration trends data is compiled from more than two million one-way U-Haul truck transactions that occur annually across the U.S. and Canada. The report found that the State of Florida is currently second only to Texas in terms of incoming residents.

“The 2022 trends in migration followed very similar patterns to 2021 with Texas, Florida, the Carolinas, and the Southwest continuing to see solid growth,” said John “J.T.” Taylor, president of U-Haul International. “We still have areas with strong demand for one-way rentals. While overall migration in 2021 was record-breaking, we continue to experience significant customer demand to move out of some geographic areas to destinations at the top of our growth list.”

Currently, Texas is the number one growth state for the second consecutive year and the fifth time since 2016. Florida, which ranks second, has been a top-three growth state seven years in a row. South Carolina, North Carolina, Virginia, Tennessee, Arizona, Georgia, Ohio, and Idaho round out the top 10 growth states. Virginia and Alabama are the biggest risers, climbing 26 spots from their respective 2021 rankings. New York, Massachusetts, Michigan, Illinois, and California are the bottom five states for growth in 2022.

Data from MoveBuddha, a moving-company referral service, backs up the U-Haul report. The company noted in a statement that for every person who moved out of Florida in 2022, 1.6 people moved in.

Jobs Are Moving to Florida, As Well

At the same time more individuals are relocating to Florida, and so too are businesses, which will help the Florida economy provide jobs for new Floridians. This new trend of “tech flight” from areas such as California has seen Miami become one of the fastest-growing rental and real estate markets in the country. While Texas remains a number one destination, Florida holds the number two spot for incoming companies seeking lower taxes and a more affordable cost of living for workers. The work-from-home trend allows companies to move their corporate headquarters while retaining employees in other parts of the country virtually. 

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