Why South Florida

South Florida Migration

The South Florida MSA is projected to grow by 1.6% through 2028, or by approximately 100,000 residents.

South Florida's population grew 4.8% over the last five years, or by 287,000 residents. Florida is the 3rd most populous state in the U.S. with more than 22.8 residents, up 6.4% since 2020. The increase in population led to residential home sales spiking in South Florida as well as fueling demand for multifamily investments throughout the region. The area has benefited from many wealthy residents moving particularly from the northeast. Florida's population growth held for the 13th consecutive year, increasing 1.4% in 2023, surpassing 22.3 million residents.

732K

New York, NY Los Angeles, CA Chicago, IL San Francisco, CA Boston, MA

468K

234K

214K

70.9K

32.5K 70.2K

South Florida, FL Nashville, TN Raleigh, NC North Port, FL Lakeland, FL Jacksonville, FL San Antonio, TX

NET MIGRATION RANKINGS 2022 — 2023

94.3K 73.2K

94.6K 103K 116K

118K

Orlando, FL Charlotte, NC Austin, TX Atlanta, GA Phoniex, AZ Tampa, FL

124K

131K

143K

188K 191K

229K

Dallas, TX Houston, TX Net Migration 2020-2023

326K

-800K

-600K

-400K

-200K

0

200K

400K

Cushman & Wakefield | Why South Florida

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