Despite experiencing a pandemic population boom, nearly 500,000 Florida transplants decided to leave the state and move back north.According to data analytics firm CoreLogic, there were nearly two homebuyers moving to Florida in 2023 for every one person leaving.
The devastation of hurricanes on property, rising housing costs, increased homeowners insurance rates, and politics have been some of the reasons behind the Florida reverse migration. It was estimated last fall that the damage from Hurricane Ian could be $47 billion in Florida.
Real estate website Zillow is calling the Sunshine State one of the more expensive states to buy homes due to the rise in prices by 60%.
NBC News interviewed Louis Rotkowitz, a transplant from New York, who bought a house in the West Palm Beach area in 2022 but found his commute with erratic drivers, rising homeowner costs, and the prevalence of guns as not ideal. He picked up and moved to North Carolina.
“Everyone is walking around with guns there,” he reportedly said.
Another transplant from Connecticut cited the lower salary and rising insurance costs as “hidden costs” and moved back north.
Oklahoma native Donna Smith told NBC that rising …