More Floridians Are Buying Pricey Homes In New York City, Per A New Study

Photo byMichael Vadon, CC BY 2.0, via Wikimedia Commons

Most Floridians are aware that a large number of New Yorkers have either moved to Florida full-time or part-time (spending part of their time in Florida and part of their time in New York.) 91,201 New Yorkers moved to Florida in 2022 alone. However, according to a recent study, that trend is reversing for some as an increasing number of Floridians are reportedly moving to pricey homes in New York City.

The Study And What It Measurered: PropertyShark, a real estate database, conducted a recent study that indicated that Florida buyers accounted for 12.04% of out-of-state buyers in New York City in the first half of 2024. That makes Florida the third most active buying state behind New Jersey and California.

Additionally, the study found that Floridians were the most active luxury buyers. Specifically, Floridians accounted for 219 sales worth a combined $315 million.

What Does New York City Offer? The Pros And Cons: According to the website Bellhop, there are some pros that New York offers to Floridians. Specifically, those living in New York experience all four seasons, access to entertainment, art, and sports, and the availability of diverse and delicious food options.

Conversely, New York can be expensive, have long commute times, and have higher taxes.

A popular option for many Florida/New York "snowbirds" is having a home in both New York and in Florida. That way, you can live in Florida during the cold months of New York, but enjoy New York when it is hot in Florida.