Floridians Flocking to NYC for Luxury Homes, New Study Reveals

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We’ve all heard about the wave of New Yorkers moving down to the Sunshine State, but here’s a twist you might not have seen coming—an increasing number of Floridians are heading north and buying some pretty pricey homes in New York City.

What's Going On?

While it’s no secret that many New Yorkers have been trading in their city life for Florida’s warm weather (91,201 New Yorkers made the move just last year), a new trend is emerging. According to a recent study by PropertyShark, a growing number of Floridians are buying luxury properties in the Big Apple.

In fact, Floridians made up 12.04% of out-of-state buyers in New York City during the first half of 2024, making them the third most active group of buyers, right after folks from New Jersey and California. But here’s where it gets really interesting: Floridians are leading the charge when it comes to luxury real estate. They were involved in 219 high-end property sales, totaling a whopping $315 million.

So, Why Are Floridians Choosing NYC?

Let’s face it, New York City has a lot to offer. According to the website Bellhop, there are plenty of pros for those considering a move to NYC. For starters, you get to experience all four seasons, something Floridians might actually miss! Plus, there’s no shortage of entertainment, art, and sports to keep you busy. And if you’re a foodie, NYC’s diverse and delicious dining options are hard to beat.

But it’s not all glitz and glamor. Living in New York comes with its challenges—higher taxes, expensive living costs, and those notorious long commutes. So, it’s definitely a trade-off.

The Best of Both Worlds?

For many Florida-New York “snowbirds,” the ideal setup is to own a home in both states. This way, they can enjoy the warm Florida winters and then head up to New York when the heat in Florida gets a bit too intense. It’s the perfect way to enjoy the best of both worlds—sunshine and city life, all in one year.

Whether you’re thinking about joining this trend or just curious about what’s driving it, it’s clear that the connection between Florida and New York is stronger than ever. So, what’s your take—would you make the move?