A report this month by MovingPlace reveals that New York City (NYC) residents have been moving to Florida en masse as part of what researchers dubbed an “affordability exodus.”
The report comes as democratic socialist Zohran Mamdani was elected NYC mayor, sparking both cheers from progressives and concerns from opponents.
“When Zohran Mamdani announced his candidacy for New York City mayor with proposals to tax high-income earners and provide services like fare-free buses, critics immediately predicted an exodus of wealthy residents,” researchers said. “The data tells a more nuanced story.”
While many critics expected wealthy New Yorkers to flee these sorts of policies, MovingPlace’s data instead shows that fewer high-income residents left after Mamdani’s primary win than before (a roughly 1% difference year-over-year).
SO WHO’S ACTUALLY LEAVING NYC?
Between May 2024 and October 2025, the following groups left the city:
15,552 high-income earners (making over $201,000 annually)
164,249 lower-income earners (making under $200,000 annually)
“That’s more than 10 times as many lower-income residents leaving compared to their wealthier counterparts,” the study reads. “This disparity raises important questions about who can actually afford to stay in New York City, regardless of political leadership.”
But while there aren’t necessarily more wealthy residents fleeing the city, researchers have found that many finance jobs and chain retail stores have left in recent years.
“This creates a potential paradox: if lower-income residents are moving in while high-paying jobs are moving out, New York City may face an increasingly challenging fiscal equation.
More residents who need services, fewer businesses generating the tax revenue to fund those services, and a shrinking middle class to bridge the gap.”
MovingPlace, “NYC Migration Report: The Affordability Exodus”
WHERE ARE THEY ALL GOING?
It turns out that the Sunshine State is the No. 1 destination for fleeing New Yorkers.
MovingPlace estimates that nearly 17% of NYC residents who leave the city move to Florida — more than any other state in the country.
“The appeal is obvious: no state income tax, lower cost of living, warm weather, and increasingly, a robust job market in cities like Miami,” the report notes.
[BELOW: Study says these metro areas are growing faster than anywhere else]
Furthermore, the report lists out the top destinations for New Yorkers moving away from the Big Apple.
And as it turns out, there are three Florida metros among the top-ranked areas: Miami (No. 2), Orlando (No. 11) and Tampa (No. 12).
RankDestination MetroState(s)Total People Leaving NYC1Philadelphia-Camden-WilmingtonPA/NJ/DE/MD12,9892Miami-Ft. Lauderdale-West Palm BeachFL10,0303Bridgeport-Stamford-DanburyCT6,7304Washington-Arlington-AlexandriaDC/VA/MD/WV6,1385Kirya Joel-Poughkeepsie-NewburghNY6,1146Allentown-Bethlehem-EastonPA/NJ5,2177Atlanta-Sandy Springs-RoswellGA5,0678Los Angeles-Long Beach-AnaheimCA4,8969Trenton-PrincetonNJ4,82710Boston-Cambridge-NewtonMA/NH4,42911Orlando-Kissimmee-SanfordFL4,36112Tampa-St. Petersburg-ClearwaterFL4,19113Charlotte-Concord-GastoniaNC/SC4,06014Dallas-Fort Worth-ArlingtonTX3,88015Chicago-Naperville-ElginIL/IN3,13316Houston-Pasadena-The WoodlandsTX3,07417San Francisco-Oakland-FremontCA2,85318Raleigh-CaryNC2,77019Albany-Schenectady-TroyNY2,45020Myrtle Beach-Conway-North Myrtle BeachSC2,208
WHAT DOES THIS MEAN FOR FLORIDA?
New York City isn’t the only target here; the latest federal data shows that over 71,000 people from the Empire State moved to Florida in 2023.
And they’re among the nearly 1 million total people who moved to the state during that same year.
In fact, inbound migration to Florida has been so high that the state’s population passed 23 million people for the first time ever last year, according to the state’s Demographic Estimating Conference.
This huge influx of people into Florida is also set to bolster the state’s GDP and job growth, according to UCF economist Sean Snaith.
“Florida is going to keep cruising at a higher altitude than the rest of the country,” Snaith predicted. “That’s because the ‘twin engines’ of a robust labor market and population growth are propelling us forward.”
Snaith explained that many of the people moving into Florida are retirees, which means more jobs are being created to meet their needs and wants.
However, this population growth could have other consequences.
With more people moving into the state, there are more people seeking goods and services like housing, food, gas and insurance — among many other products.
As a result, Florida’s cost of living is becoming inflated, outpacing wage growth in the state. This is despite having predicted average growth higher than the rest of the nation.
“Florida should enjoy the ride through these economically friendly skies with seatbelts fastened — just in case,” Snaith said.
Breaking News Alerts
Get breaking news alerts delivered to your inbox.
Copyright 2025 by WKMG ClickOrlando – All rights reserved.