Where are Millennial New Yorkers Moving? Florida, Of Course!

Orlando luxury homes and Coral Gables luxury homes may seem like the place that retirees might be choosing for their next home buy, but a recent report shows New Yorkers in the millennial generational group are leaving the Big Apple and other New York cities in search for warmer territories, including Orlando luxury homes.

The Sunshine State is one of the most appealing to this generation but there are a few other Southern and Western states that are drawing these ready to buy consumers into their real estate markets.

Florida Real Estate Beckons (Along with Some Other States)

The fact that New Yorkers are leaving the city in droves favoring homes such as Fort Lauderdale, Coral Gables, and Orlando luxury homes shouldn’t be surprising.

This year alone the 30 to 40-degree weather in New York City hit at the end of November and lasted all the way into April. Why wouldn’t someone want to move into Orlando luxury homes and enjoy 70 to 80-degree temperatures for most of the year? If you think the heat is of concern, think again. It is easy to cool off by taking a dip in the area lakes or pools. A short drive will take you to the coast where crystal clear blue ocean waters beckon. There truly is no reason to grumble about the warmth.

But besides Orlando luxury homes, there are some other cities that are attracting these Northern transplants into their locations, according to realtor.com. The numbers for the top destinations in the country for northerners of all ages to relocate to came in as:

  • 1 and 2: Tampa and Jacksonville, FL
  • 3: Charlotte, NC
  • 4: San Antonio, TX
  • 5: Austin, TX
  • 6: Las Vegas, NV
  • 7: Orlando, FL
  • 8: Nashville, TN
  • 9: Raleigh, NC
  • 10: Portland, OR

When it comes to millennials alone, their top favorite cities to move to are:

1: San Antonio, TX

2: Jacksonville, FL

3: Tampa, FL

4: Miami, FL

5: Orlando, FL

6: Oklahoma City, OK

7: New Orleans, LA

8: Charlotte, NC

9: Austin, TX

10: Raleigh, NC

Factors Influencing the Move to Orlando Luxury Homes and Other Florida Properties

Besides the weather, factors helping to drive the migration South also include housing prices and employment.

For instance, a home in New York City comes in at the median price of $399,000, according to the report. In Orlando, the median home price is much more affordable with the numbers registering at $150,000.

Who are These Millennials and Why Do They Matter?

As of 2016, millennials are those individuals between the ages of 19-35. They currently hold the title of the largest living generation, which makes them highly interesting because of their buying power among other things. Knowing what these young adults like and want is good business when considering the sheer number of them.

The fact that this generation is finding colder climates unappealing is not a revelation, but what is intriguing is that they don’t seem tied to a location like previous generations. Maybe it’s technology that makes moving away not feel as heartbreaking as it might have been for generations past.

Whatever the reason, the move to warmer climates could greatly affect the economics of the entire nation. And, New York is not the only state that is experiencing a migration of millennials away from the area.

Other Northern States Losing Constituents to Warmer Climates

Other cities in the country that are displaying a noticeable exodus is

  • Chicago, IL
  • Detroit, MI
  • San Jose, CA
  • Los Angeles, CA
  • Milwaukee, WI
  • Louis, MO
  • Cleveland, OH
  • San Francisco, CA
  • Philadelphia, PA
Florida Realty News
Florida Realty News
Berkshire Hathaway HomeServices Florida Realty, a wholly-owned subsidiary of WCI Communities, has over 39 locations and more than 1,650 real estate sales professionals and team members serving 17 counties throughout Florida.
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