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LendingTree’s State Migration Study Finds Homebuyers Heading South
In a study by LendingTree, an online loan marketplace, it was revealed what states most people are looking to move to (State-to-State movements). There is a strong preference for the southern states with Florida as the number 1.
Residents of 18 out of 50 states prefer Florida as their new home state, therewith making it this study’s number 1 destination! Of all purchase mortgage requests during the study’s time period, 9.14% were for consumers looking to move to Florida. Florida has a history of bringing in new residents. In the past these new residents were mainly retirees and people looking for a better climate, nowadays we see many (highly educated) migrant workers and high income individuals who are looking for tax benefits. We also see more businesses moving to Miami and setting up shop here. I have personally spoken to several CEO’s / CFO’s in the last few months who are moving with their company and family to South Florida to find themselves saving $100,000s of dollars. Finally, Miami’s is becoming more and more of a global city offering excellent schools, arts, culture, fashion, fine-dining, museums and much more.
The 18 states who had Florida as a number 1 choice. Many of these are high income tax states, while Florida does not have any personal income tax.