MIAMI, Florida – Florida’s once-surging influx of new residents slowed sharply in 2024, driven by soaring housing costs, frequent hurricanes, and high insurance rates, according to a new report from Redfin, a technology-powered real estate brokerage.
Tampa saw the steepest migration slowdown among the 50 largest U.S. metro areas, with a net inflow of just 10,544 residents in 2024—less than a third of the 34,920 in 2023.
Miami’s net outflow grew, losing 67,418 residents compared to 50,637 the prior year.
Orlando‘s net inflow fell to 779 from 16,357, while Fort Lauderdale‘s net outflow rose to 26,339 from 14,875.
The following table details the top Florida metro areas where net domestic migration fell most significantly from 2023 to 2024.
Net domestic migration reflects the difference between U.S. residents moving into and out of a metro area.
| U.S. Metro Area | Change in Net Domestic Migration (2023 to 2024) | Net Domestic Migration (2024) | Net Domestic Migration (2023) |
|---|---|---|---|
| Tampa, FL | -24,376 | 10,544 | 34,920 |
| Miami, FL | -16,781 | -67,418 | -50,637 |
| Orlando, FL | -15,578 | 779 | 16,357 |
| Fort Lauderdale, FL | -11,464 | -26,339 | -14,875 |
Rising housing costs have eroded Florida’s affordability edge over cities like New York or San Francisco.
Frequent hurricanes have driven up insurance premiums and HOA fees, further increasing living expenses.
“People used to move to Florida partly because they could get a deal. Now, people can’t afford to move here,” said Bryan Carnaggio, a Redfin Premier agent in Florida.
“The first questions from out-of-staters are, ‘How bad are the hurricanes? How high are insurance rates?’”