ALBERT MEDINA OF BOCA RATON: “OOPS…SO MUCH FOR SO-CALLED ‘CITY LIFE’ – THE FLORIDIAN URBAN EXODUS”

Albert Medina, a Florida Realtor and Broker based in Boca Raton, has seen a significant trend recently. Specifically, Albert Medina has observed that Floridians are leaving cities in droves for more affordable housing. As such, this is just one of many population and demographic changes impacting Florida.

That said, the U.S. Census Bureau reported that Florida’s population grew by more than 14% from 2010 to 2020. Accordingly, Florida is now the third-fastest-growing state in the country. Moreover, many new residents are moving to Florida from other states. However, Florida’s growth is actually being driven primarily by existing residents relocating within the state.

“Many of my clients are looking to move out of urban areas like Miami and Fort Lauderdale and into more suburban or rural areas,” says Albert Medina. “They want more space and better affordability, and they’re finding it in places like Palm Beach County and the Treasure Coast.”

This shift in population is having a significant impact on Florida’s real estate market. Pertinently, as more people move to the state and existing residents relocate within it, demand for housing is increasing. In turn, this is driving up home prices in many areas, creating a competitive market for buyers in many locations.

“Accidentally, I’ve become very busy with finding homes for my clients,” says Albert Medina. “The competition is tough, and it takes a professional to navigate the market and help buyers find the right home.” This has been especially true in the Boca Raton area.

The trend towards more affordable housing is also driving growth in some of Florida’s smaller cities and towns. Places like St. Augustine, Sarasota, and Gainesville are seeing an influx of new residents who are drawn to their lower cost of living and slower pace of life.

As for the future, it’s clear that Florida’s population and demographic changes will continue to impact the real estate market in significant ways. With more people moving to the state and existing residents relocating within it, demand for housing is likely to remain strong for years to come.

“Florida has always been a desirable place to live, and that’s not going to change anytime soon,” says Albert Medina. According, the challenge for buyers is finding the right home at the right price in a market that’s becoming increasingly competitive.