![\"A](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/04\/0.jpg\" "\\"A")
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A rendering of the proposed 54-story tower in Brickell that will be headquarters of hedge fund Citadel. <\/p>\n
Courtesy of Citadel<\/p>\n
Since the pandemic, the story of population growth in Miami \u2014 and Florida as a whole \u2014 has been that as high-tax states like New York lose rich residents to our state, we win. So, every time a billionaire buys a home in South Florida, it\u2019s like we\u2019ve hit a homerun.<\/p>\n
Yes, many people relocated here from blue states in recent years and, thanks in part to that, Florida was the nation\u2019s fastest growing state in 2022, according to the U.S. Census.<\/a> (Immigration, so vilified these days, was crucial in the population boom, too).<\/p>\n Local and state leaders have turned this state-to-state migration phenomenon into a political narrative, where our success relies on prevailing in a red-versus-blue state battle.<\/p>\n But if we\u2019re going to brag about high-net-worth individuals leaving California or New York, we should be also talking about states such as Texas, Georgia and North Carolina, where some Miami-Dade residents are moving, according to IRS data. Those are red or purple states that, like Florida, have lower taxes but also have lower housing costs<\/a> middle and working-class families can afford.<\/p>\n As the Miami Herald Editorial Board previously reported, between 2020 and 2025, more people left Miami-Dade<\/a> for other parts of Florida and the U.S. than moved here from those places, according to research by Florida International University based on U.S. Census figures. The county\u2019s population still grew during that period but mostly because of international migration<\/a>, which has slowed down amid President Trump\u2019s crackdown.<\/p>\n Our region has banked its fortunes on perpetual growth to stimulate crucial industries like real estate construction and services, and the influx of wealth into the county has, no doubt, helped the local economy. For example, billionaire Ken Griffin, who bought a home on Miami Beach\u2019s Star Island in 2021, is relocating<\/a> his hedge fund, Citadel, to Brickell from Chicago.<\/p>\n But there\u2019s the flip side: If this growth doesn\u2019t translate into enough high-paying jobs to help the non-wealthy afford a higher cost of living, then we have a problem.<\/p>\n It\u2019s hard to tell exactly where each person who left Miami-Dade has gone in the past six years. The IRS keeps track of changes of address on tax returns, but the most recent available data covers 2021-23. But even that narrow data set shows a pattern:<\/p>\n The county had a positive net migration from New York, California and greater Chicago, and the people who moved here tended to earn more money than those leaving.<\/p>\n Most people who left Miami-Dade moved to other parts of Florida, especially Broward and Palm Beach counties. But the county also lost residents to other states such as Georgia, North Carolina and Texas, near Houston.<\/p>\n At the state level, a similar pattern has started to take shape. The Wall Street Journal<\/a> reported earlier this month that Florida \u201cresidents in their prime working years are heading to other states,\u201d often because of affordability concerns. The state\u2019s net domestic migration \u2014 the number of arrivals from within the U.S. minus the number of departures \u2014 has slowed down. Like Miami, other metro areas, such as Orlando, experienced net losses of domestic migrants in 2024.<\/p>\n It\u2019s easy to understand why that\u2019s happening. The median sale price of a single-family home in Miami-Dade in February was $685,000, according to Miami Realtors<\/a>. In Houston, it was $322,000, according to the Houston Association of Realtors<\/a>.<\/p>\n Texas has done \u201csome pretty radical things\u201d to create cheaper housing with different laws on minimum lot sizes and zoning regulations, former Florida Republican Sen. Jeff Brandes, now head of the Florida Policy Project, told the Herald Editorial Board. Texas also has a lot more land to build on than peninsular Florida.<\/p>\n \u201cWe\u2019re competing nationally with markets that have lower cost housing, where families can afford to move, where they can find jobs,\u201d Brandes said.<\/p>\n For all the buzz about Miami-Dade and Florida becoming a haven for the affluent fleeing liberal coastal cities, it\u2019s time to look beyond the blue-versus-red narrative. If we\u2019re going to compete with other states, let\u2019s add southern states to the list.<\/p>\n When residents leave our region, they aren\u2019t seeing political lines but quality of life \u2014 and many no longer feel that\u2019s within reach in South Florida.<\/p>\n BEHIND THE STORY MORE <\/a> What’s an editorial? <\/p>\n Editorials<\/a> are opinion pieces that reflect the views of the Miami Herald Editorial Board, a group of opinion journalists that operates separately from the Miami Herald newsroom. Miami Herald Editorial Board<\/a> members are: opinion editor Amy Driscoll and editorial writers Isadora Rangel and Mary Anna Mancuso. Read more by clicking the arrow in the upper right.<\/p>\n What’s the difference between an op-ed and a column? <\/p>\n Op-Eds<\/a>, short for \u201copposite the editorial page,\u201d are opinion pieces written by contributors who are not affiliated with our Editorial Board. <\/p>\n Columns<\/a> are recurring opinion pieces that represent the views of staff columnists that regularly appear on the op-ed page. <\/p>\n How does the Miami Herald Editorial Board decide what to write about? <\/p>\n The Editorial Board, made up of experienced opinion journalists, primarily addresses local and state issues that affect South Florida residents. Each board member has an area of focus, such as education, COVID or local government policy. Board members meet daily and bring up an array of topics for discussion. Once a topic is fully discussed, board members will further report the issue, interviewing stakeholders and others involved and affected, so that the board can present the most informed opinion possible. We strive to provide our community with thought leadership that advocates for policies and priorities that strengthen our communities. Our editorials promote social justice, fairness in economic, educational and social opportunities and an end to systemic racism and inequality. The Editorial Board is separate from the reporters and editors of the Miami Herald newsroom.<\/p>\n How can I contribute to the Miami Herald Opinion section? <\/p>\n The Editorial Board accepts op-ed submissions of 650-700 words from community members who want to argue a specific viewpoint or idea that is relevant to our area. You can email an op-ed submission to oped@miamiherald.com. We also accept 150-word letters to the editor from readers who want to offer their points of view on current issues. For more information on how to submit a letter, go here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"A rendering of the proposed 54-story tower in Brickell that will be headquarters of hedge fund Citadel. 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