New York City residents are increasingly choosing Miami-Dade County as their new home, with over 6,000 individuals migrating from the Big Apple to the South Florida region in 2022. This trend highlights a significant shift in domestic migration patterns, with Florida emerging as a top destination for those leaving the expensive Northeast.
New Yorkers Choose Miami-Dade
A recent analysis from PropertyShark reveals that Miami-Dade County was the most popular destination in Florida for New York City residents. The data, derived from IRS income tax returns tracking address changes from 2022, indicates more than 6,000 migrations from NYC to Miami-Dade. Broward County followed with 5,007 moves, and Palm Beach County secured the third spot with 4,515.
Key Migration Trends
- Miami-Dade, Broward, and Palm Beach counties collectively attracted approximately 41 percent of all New York City residents who relocated to Florida.
- Nearly 38,000 New Yorkers moved out of state to Florida, making it the second most popular state for these relocations, trailing only New Jersey.
- Miami-Dade experienced the second-largest influx of New Yorkers outside the Tri-State area, with 6,285 individuals moving, surpassed only by Los Angeles.
- The net migration from New York City to Miami-Dade showed a significant imbalance, with about 4,050 more taxpayers moving to Miami-Dade than vice versa.
Factors Driving the Move
Remote work flexibility has been a major catalyst for this migration, enabling individuals to leave high-cost urban centers for more affordable locations and better opportunities for homeownership. The appeal of Miami-Dade extends beyond affordability, as it offers a distinct lifestyle compared to New York City.
Miami vs. New York: A Comparative Look
An analysis by Versus highlights key differences between Miami and New York:
| Feature | New York | Miami |
|---|---|---|
| Avg. Monthly Salary | $6,058.32 | $3,960.66 |
| Unemployment Rate | 4.3% | 6.2% |
| Population | 8.5 million | 0.4 million |
| Universities | 18 | 17 |
| Average Age | 35.5 years | 39.4 years |
While New York boasts higher average salaries and a lower unemployment rate, Miami-Dade offers a more affordable cost of living and a different demographic profile, contributing to its growing popularity among former New Yorkers.
Sources
- New Yorkers flock to Miami-Dade | Real Estate, IslanderNews.com.