The Top Reasons Why So Many Home Buyers Are Relocating to Miami
Although California is a very popular state, many Californians are actually migrating away from the golden state to start a life elsewhere. In fact, in 2020, even amidst the raging Coronavirus pandemic, it’s estimated that well over 100,000 residents actually left California. While the state still has a very healthy population and is a fantastic place to live for a multitude of different reasons, it’s apparent that, to hundreds of thousands of Californians, other states currently have more appeal. In a previous blog post, we discussed the top states Californians are migrating to, as well as some of the key reasons why the golden state isn’t considered to be so “golden” for many individuals (namely, the exorbitant living costs).
From July 2017 to July 2018, more United States residents moved to Florida than any other state. And, it seems, Californians have picked up on this trend. Florida is an incredibly popular place to live for a number of reasons. It has year-round tropical weather, beautiful beaches, lively cities, and the unique paradoxical balance of both a raging party scene and top-notch retirement living. But what is it about Florida, and Miami in particular, that keeps drawing the home-hunting masses?
Well, we already mentioned this one, and there isn’t much more to elaborate on. The Florida weather is next to none. Winters can’t even be classified as winter; they’re mild, short, and temperate enough to wear shorts and a t-shirt all year round. If relaxing on the beach on Christmas day is your idea of living the good life, Florida might be the place for you.
Reduced Living Costs
Californians leave their home state for a myriad of reasons, but high cost of living is probably the most common. California is expensive. Very expensive. Florida, on the other hand, has no state income tax whatsoever. Even better, the sales tax is 7% as compared to California’s 7.75%.
As we’re working through this list, it seems Florida has just as many pros as California. However, Florida is on the opposite side of the country, close to Cuba and South America, which certainly affects its food scene. Cali has excellent restaurants, particularly in the larger cities like Los Angeles and San Francisco. But if authentic food, particularly Cuban food, is what you’re after, Miami is the place to be. What’s more, due to the climate, tropical fruits and vegetables are very affordable.
Don’t get us wrong, California has incredible beaches, 840 miles of them to be exact. But Florida is on another level, boasting 1,350 miles of white sand coastline. Miami itself is quite literally a city built on a beach. If you like a balance of coastal beach living and dynamic city life, there really aren’t many U.S. cities better than Miami.
The College Scene
For those with kids who are college-age, there are few places better to be than Miami, particularly for teens themselves. We all know Miami is renowned for its spring break extravaganzas, so college students are guaranteed to have the time of their lives whilst still being safely close to home. But the Miami college scene isn’t just good for parties, it also has excellent universities, like the University of Miami and Keiser University.
Florida is known as a retiree haven, and it certainly lives up to that name. Florida doesn’t tax social security benefits or retirement income, and there are no state or inheritance taxes. The weather, the food, and the tax breaks for seniors make it a great place to migrate to in the later years of life.
Affordable Real Estate
For such a bustling, lively, cultural city, Miami has some surprisingly affordable real estate options. While certain areas of Miami are definitely still pricey, there are other parts that aren’t nearly as expensive as living in major California cities like San Francisco and San Diego. The average home price in Florida is about $280,000, as compared to a whopping $620,000 in California. Property taxes in Florida are also decent, about 0.98%, which is less than the national average of 1.08%.
All in all, there are plenty of great reasons to make a move from California to Miami, and many people are choosing to do just that. But, even though migration out of the golden state is becoming increasingly common, there are also lots of people moving to California. With a population of nearly 40 million people, California doesn’t have to worry too much about losing a few residents to the sunshine state.