It’s a boom time for Florida Man.
As Florida’s population surpasses 23 million for the first time ever, the Sunshine State might soon need a new moniker – not for a sudden influx of sparkly vampires, but due to a wave of retirees.
According to a report released Friday by the state’s Demographic Estimating Conference, there are now 23,002,597 people residing in Florida as of April 1 this year. This represents a significant increase from the 20 million residents reported in 2015, driven by an annual growth of between 300,000 and 380,000 over the past decade.
With a growth of 365,205 in 2023 alone, Florida has solidified its position as the state with the second-largest population growth both by percentage (behind South Carolina) and in raw numbers (behind Texas).
A substantial portion of this growth can be attributed to an expected source: baby boomers. Florida’s allure for retirees is well-documented – a 2023 study even named it the most popular state in the country for baby boomers looking to relocate. With nearly one in ten residents over the age of 75, Florida also boasts the second-largest percentage of elderly individuals in the country, according to 2023 census data.
However, this growth rate is unlikely to be sustained. Since late 2019 and early 2020, deaths have been outpacing births in the state, a trend that is expected to persist. Additionally, the influx of retirees is anticipated to slow by the end of the decade as the final cohorts of baby boomers retire. Generation X, the next age demographic, is smaller in size and less affluent, making it unlikely to fill the void left by the retiring boomers.
Image Credit: Kent Weakley/Shutterstock.com
But it’s not just retirees driving the population increase. Florida is also a prime destination for middle-class Millennials, and over 20% of Floridians were born outside the US. Higher immigrant populations tend to correlate with younger demographics, including families with children. This may explain why four of the five fastest-growing metropolitan areas in the US are located in Florida this year.
Interestingly, not all new residents are international immigrants. Nearly three-quarters of Florida’s 2023 population increase came from people moving from other states, with New York leading the charge. Approximately 91,000 New Yorkers relocated to Florida this year, outnumbering movers from California and Georgia combined.
So, stay tuned – with a record number of Florida Men and Women, it’s an exciting time to be alive in the Sunshine State.
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