economy
March 15, 2026
Florida’s Real Estate ‘Gold Rush’ Draws the Super-Rich as Rising Costs Push Others Out
The luxury property surge fuels growth in Miami, but a poll finds many residents weighing an exit over housing and living costs
TL;DR
- South Florida's real estate market is experiencing a 'gold rush' with wealthy buyers purchasing high-end properties.
- A significant number of Florida residents, at least half according to a poll, are considering leaving due to the rising cost of living, with housing affordability being a primary concern.
- Florida has become one of the most expensive states to live in, with certain metropolitan areas having a high percentage of household income dedicated to housing.
- Miami-Dade county has experienced a net migration deficit despite an increase in millionaires, partly attributed to soaring housing costs.
- Some essential workers and professionals, like pediatricians, may be deterred from practicing in Florida due to high living costs and student debt.
- The rate of new residents moving into Florida has slowed, with recent estimates showing a significant decrease compared to previous years.
- Municipalities and private partners are prioritizing affordable housing projects to retain residents in crucial industries.
- Developers are being encouraged to consider the affordability and livability of their projects for local communities.
Continue reading the original article