Florida Chamber Foundation's Latest State-to-State Population Migration Report Highlights Florida's National Leadership and Key Opportunities for Future Growth

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December 13, 2024
 
 
 
Florida Chamber Foundation's Latest State-to-State Population Migration Report Highlights Florida's National Leadership and Key Opportunities for Future Growth
 
While Florida Saw the Highest Influx of New Residents in the Nation in 2023, Business Leaders Are Addressing Florida's Increase in Outflow
 
Access the 2024 Florida Migration Trends Report HERE.

Join the continued discussion on Florida's growth and shifting demographics HERE.

The Florida Chamber Foundation has released its latest migration report, revealing significant trends in Florida's population growth and state-to-state migration patterns. The report, which details data on population inflow and outflow from other states, highlights Florida's status as a national leader in net income migration, while also underscoring pressing challenges that could impact the state’s long-term growth and economic stability.

According to the report, Florida gained a net total of 126,000 residents from other states in 2023. While this figure reaffirms Florida as a top destination for new residents, it also represents a nearly 50% decrease from the previous year and marks the first major decline in net migration in a decade. The report attributes this shift to two key factors: rising housing costs and the perception of limited career opportunities for younger, early-career workers.

Key Findings:
  • Net Income Migration Leader: According to the latest figures, Florida led the nation with a net income migration of nearly $36.1 billion annually, (over three times that of the second-ranked state, Texas) though it experienced resident outflow to 19 states in 2023.
  • Demographic Shifts: While Florida saw an influx of residents aged 60 and older, younger residents, particularly those aged 20-29, are leaving in significant numbers. Factors cited include the high cost of housing and the perception of limited in-state job opportunities for early-career professionals.
  • Housing Affordability Pressures: Housing costs have been identified as the primary reason for outmigration, with residents leaving for states like Tennessee and North Carolina, which offer more affordable living options. The Florida Chamber-backed Live Local Act, alongside the Florida 2030 Blueprint goals, aims to address these challenges.
The migration trends highlight an important moment for Florida's business community. The Florida Chamber Foundation emphasizes the need to look beyond the movement itself and focus on understanding who is leaving, why, and what can be done to retain Florida’s workforce as we look to build the world's 10th largest economy by 2030.

Click HERE to read the full release and access the report HERE.
 
Want to Hear More About How Migration is Impacting Florida's Economy?

Register for Our Upcoming Virtual Solution Summit!
 
 
Join us for the Florida Chamber Foundation’s virtual 2025 Florida Economic Outlook & Jobs Solution Summit, on January 30, 1:00pm-4:00pm ET. The Florida Chamber Foundation team, leading economists, and industry experts will glimpse into the opportunities and challenges Florida’s economy is facing on the road to 2030 and beyond. Attendees will receive an exclusive 2025 Florida economic forecast, a national economic outlook, and invaluable insight into Florida’s evolving workforce needs, population growth, housing trends, potential election impacts, and more.
 

 
 


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