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FLORIDA - Domestic migration to the Sun Belt, once the top choice for Americans relocating during the pandemic, saw a sharp downturn in 2024, according to a new report by Redfin.
Cities in Florida and Texas, which previously led the country in inbound migration, are now experiencing a notable decline in new residents.
Tampa, for instance, attracted just over 10,000 newcomers in 2024, down from 35,000 the year prior.
That’s the most significant drop among the 50 largest U.S. metro areas.
Other cities facing similar slowdowns include Dallas, Austin, Miami, Orlando, Fort Lauderdale, Houston, and San Antonio.
Conversely, fewer people are leaving high-cost cities like New York and Los Angeles.
New York City still experienced a net outflow of around 120,000 people, but that’s a marked improvement compared to the 153,000 who left in 2023.
Los Angeles also saw fewer departures, as did Chicago, Washington, D.C., Philadelphia, and Seattle.
Redfin attributes this shift to several factors. Formerly affordable cities like Austin and Tampa have seen a surge in home prices.
Florida’s growing exposure to natural disasters like hurricanes has also driven up insurance premiums, making relocation less appealing.
Meanwhile, return-to-office policies are limiting relocation flexibility, and more people are opting for affordable Midwest cities like Indianapolis or Minneapolis.
“People used to move to Florida for a good deal,” said Redfin agent Bryan Carnaggio. “Now, the first questions are about hurricanes and insurance.”
The Sun Belt boom appears to be cooling as Americans rethink where—and why—they move.