Florida Atlantic University’s Business and Economic Polling Initiative released survey results showing that nearly 50% of state residents are seriously considering relocation due to rising living costs. The findings suggest that Florida’s traditional affordability advantage faces significant challenges.

The American Dream Sentiment Survey polled 1,000 Florida residents aged 18 and older about economic concerns, household budgets, and financial constraints. Results indicate a “sunshine squeeze” affecting resident retention despite continued population growth driven by interstate migration.

Eric Levy, assistant director of FAU’s BEPI, noted that the high relocation consideration rate suggests that current residents experience financial pressure even as new arrivals continue to enter the state. This dynamic creates complex market conditions for real estate professionals operating in Florida.

Housing Affordability Dominates Resident Concerns

Housing affordability emerged as the primary concern among survey respondents, with 80% expressing worry about housing costs. Nearly half described themselves as very concerned about their ability to afford housing in the state.

Inflation pressures compound housing concerns, with 90% of respondents reporting at least some concern about rising prices and 56% expressing significant worry. For retirees and fixed-income residents, these combined pressures create particularly acute challenges.

Nearly 70% of survey participants reported struggling to meet monthly expenses at least occasionally, with 43% describing living paycheck to paycheck. Monica Escaleras, chair of FAU’s economics department and BEPI director, characterized financial security as feeling one expense away from collapse for most Floridians.

Homeownership Barriers Intensify

While 75% of respondents still view homeownership as part of the American dream, accessibility concerns have grown substantially. Just over half expressed at least some confidence in their ability to purchase a home now, and nearly 80% indicated that homeownership has become more difficult than five years ago.

Survey participants identified home prices as the primary barrier to homeownership, cited by 36% of respondents. High interest rates followed at 15%, with down payment costs representing 11% of responses.

These perceptions align with recent market data. Florida housing markets have experienced some of the nation’s most significant slowdowns despite declining mortgage rates. Miami properties showed 13-day increases in average time on market compared to the prior year, with median listing prices reaching $499,999 in October—nearly $76,000 above the national median.

Inventory levels have increased substantially across multiple Florida markets, with some metropolitan areas showing listings exceeding pre-pandemic levels. To help navigate changing market conditions, our team provides comprehensive financial planning and tax strategy services.

Market Segmentation Reflects Economic Divide

Real estate professionals observe distinct market segments developing within Florida. High-net-worth individuals, including those who have recently relocated and established primary residences in the state, operate in substantially different market conditions than long-term residents managing fixed incomes and rising property-related expenses.

Insurance costs, condominium association fees, maintenance expenses, and climate-related property upkeep create cumulative financial pressure for existing homeowners. These factors contribute to some longtime residents choosing to sell properties and relocate to areas with lower overall housing costs and different climate conditions.

The pandemic-era influx of remote workers attracted by warm weather created significant population growth. However, some recent arrivals subsequently discovered total housing costs—including insurance, maintenance, and association fees—exceeded initial expectations.

Population Flow Dynamics Remain Complex

Despite affordability concerns among current residents, net population movement continues to favor Florida. The state maintains positive migration patterns, with incoming residents outnumbering outgoing residents, despite the survey’s findings on relocation considerations.

Wealth accumulation and business relocations continue contributing to Florida’s economic growth. For real estate investors and developers, understanding both incoming demographic profiles and existing resident pressures informs strategic planning around property development, pricing, and market positioning.

Additional demographic and economic data are available through Florida Atlantic University BEPI and the U.S. Census Bureau.

Strategic Considerations for Florida Real Estate Professionals

Current market conditions require nuanced analysis that balances continued population growth with affordability pressures affecting existing residents. Developers and investors should evaluate target demographics, price points, and property types aligned with sustainable demand rather than extrapolating recent growth trends indefinitely.

Property management companies are increasingly important in helping owners optimize operating expenses while maintaining property values. Tax planning becomes particularly valuable in high-cost environments where expense management directly affects investment returns.

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