Thousands of people packed up and headed south over the last 12 months, making the Miami/Fort Lauderdale area the hottest destination in the country for relocating workers, as measured by movements of LinkedIn members themselves.
LinkedIn’s Economic Graph team says, among all areas in the U.S., South Florida has experienced the greatest percentage population inflows over the past year, growing a whopping 16.8% year over year.
“So far in 2021, four of the fast-gaining talent magnets are metro areas in Florida,” say LinkedIn researchers (Jacksonville, Tampa, and Orlando round out the Top Ten list, with South Florida landing in the #1 spot).
We’re always happy to welcome our new neighbors, but there are some growing pains associated with the great migration.
The LinkedIn team observes that “as newcomers flock to economically strong cities, all that inward migration tends to push up housing prices.” That’s happened in South Florida as well as other migration hot spots like Austin, TX and Colorado Springs, CO.
And of course, for every person arriving in South Florida, there’s probably one or two Floridians heading northward in search of less traffic and a lower cost of living.
The Takeaway: Is relocation in your future? Juggling the timing of house selling and house buying can be a challenge. Ask us to help you sort out all the financing and mortgage options, so you can make your big move as smooth – and tax efficient – as possible!