Rents, which are rising by double digits nationwide, are positively ballooning across Florida, fueled by a surge of people who relocated to the state during the pandemic.
and Virtu Financial, have boosted Florida's profile, while the pandemic's shift to remote work turbocharged relocations, Boyd said. The level of inquiries his company gets from firms interested in moving to the state has grown tenfold compared to before the pandemic. Good work if you can get it
Indeed, prices that are historically high by Florida standards may not deter someone fleeing even pricier New York or the Bay Area, Boyd said. Fisch had moved to New Jersey just before the pandemic to be near her husband's Manhattan job, but by the summer of 2020 both were working remotely and their two kids were attending school from home. On a Christmas vacation in Florida, the family had a revelation.
"Our mortgage payment, it went from $4,000 to $1,500," Fisch told CBS MoneyWatch."The only thing that's more expensive here is car insurance." Michele DeMoske-Weiss, 70, in her Lakeland, Florida, apartment. She is looking to move out of Florida to a less expensive state."For the first 15 years it's great, it feels like you're on vacation, and then for the second 15 years it's miserable," she said of living in Florida.
Still, Wootan and his girlfriend decided to live with the increase rather than spend money on a move, which would also cost them work days. He's been thinking more about buying a home, but said it's financially out of reach.
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