Florida has long been a magnet for new residents, and despite fluctuations in the real estate market, people keep coming. In 2024, Florida remained the number one state for net migration, with nearly 850 to 900 new residents arriving per day. While some factors like rising property insurance costs and home prices have slowed the rapid growth seen in 2021-2022, the long-term trend is clear: Florida is still one of the most desirable places to live in the U.S.
For most of my career, nearly 20 years now, I have been tracking both interstate and intrastate migration, and using that insight to help investors make informed real estate decisions. During the 2008 financial crisis, we saw an opportunity in Southwest Florida real estate when many were hesitant. With no legacy properties or recourse debt holding us back, we were able to enter the market at a favorable time. While some experts predicted excess housing inventory would linger, we recognized that population growth trends—especially migration from Miami and Fort Lauderdale—were accelerating Southwest Florida’s recovery. And now, at Worthington Realty, we continue to use housing market data and migration trends to help homebuyers and sellers make informed decisions.
The Hidden Catalyst That Made Florida a Top Destination
Florida’s appeal didn’t happen overnight. Migration patterns have evolved, but the foundation of Florida’s growth began with one key invention:
The Invention That Made Florida Livable – And Sparked a Population Boom
In the years following World War II, Florida saw a dramatic transformation. Economic prosperity, rapid urbanization, and technological advancements reshaped the country, and Florida was at the forefront of this shift. The mass adoption of residential air conditioning played a pivotal role in making year-round living in the state not only bearable but desirable.
- Economic growth fueled demand: The post-war boom meant more Americans had disposable income, and with modern comforts like air conditioning becoming widely available, Florida became more attractive for full-time living.
- Migration surged: Florida’s hot and humid climate was no longer a deterrent. Between 1950 and 1960, the state’s population grew by over 78%, from 2.77 million to 4.95 million. By 1970, the population had reached 6.79 million.
- Cities like Miami, Orlando, Tampa, and Fort Lauderdale experienced rapid growth, laying the foundation for Florida’s housing market expansion.
- Developers like the Rosen Brothers, who founded Cape Coral in 1957, capitalized on this shift. They saw air conditioning as a key to attracting full-time residents, designing Cape Coral real estate as a waterfront community with a vision of year-round living.
How Florida Became America’s Retirement Capital – And Why That’s Not Changing
- Florida became synonymous with retirement, attracting pensioners from the Northeast and Midwest starting in the 1970s. This trend has continued as the last wave of Baby Boomers reaches retirement age, further fueling home sales and senior living communities.
- Master-planned communities boomed, offering golf courses, gated neighborhoods, and active adult living. Today, Florida remains a top destination for retirees, with large-scale, resort-style developments continuing to grow. These amenity-rich neighborhoods include maintenance-free homes, villas, and townhomes tailored to an active lifestyle.
The 2000s Boom & 2008 Housing Crash
- The early 2000s saw another massive influx of residents due to strong job growth and affordable housing, attracting both retirees and working professionals looking for lower property taxes and a better cost of living compared to high-tax states.
- The 2008 financial crisis temporarily slowed real estate sales, but Florida’s population never declined—just paused before resuming its upward growth trajectory. While Florida as a whole saw economic uncertainty, Southwest Florida real estate benefited from an outflow of residents from Miami and Fort Lauderdale, seeking affordable homes, quieter communities, and an overall better quality of life.
COVID-19 & the Remote Work Migration (2020s)
- The pandemic supercharged migration, as remote workers and tax-conscious residents from New York, California, and Illinois flooded into Florida housing markets in search of affordability, larger homes, and lifestyle benefits. Many individuals and families prioritized more living space, home offices, and a lower cost of living.
- Net migration peaked at over 1,100 people per day during 2021-2022, according to U.S. Census data, marking one of the largest population shifts in recent history.
- This influx drove up home values, particularly in suburban and coastal areas, where new residents sought waterfront homes, gated communities, and better access to outdoor recreation.
- Florida’s lack of state income tax, warm climate, and business-friendly policies made it a prime destination. While migration levels have since moderated, the state continues to attract homebuyers and investors at one of the highest rates in the country.
What This Means for You – And How to Make the Most of Florida’s Housing Trends
Southwest Florida’s real estate market trends reflect a longstanding historical pattern that began with air conditioning, expanded through retirement migration, and has continued with economic shifts, tax advantages, and remote work opportunities.
At Worthington Realty, we use our extensive experience analyzing Fort Myers housing trends and Southwest Florida migration data to help our clients make smart real estate decisions. Whether you’re buying a home in Fort Myers, investing in Southwest Florida real estate, or selling property in Lee County, understanding where the market is headed is crucial.
Looking to better understand the real estate market cycles before making a move? Download our free Real Estate Cycle Guide to gain insights on how timing, migration trends, and economic factors shape buying opportunities in Southwest Florida.
Thinking about moving to Fort Myers or the surrounding areas? Let’s talk about the latest market trends and find the perfect home for you!