A new study shows that more people are moving to Jacksonville
It may seem like there are more people moving to Jacksonville based on the number of cars on the road. Or perhaps you have seen fewer and fewer houses available for purchase. Maybe you have friends or relatives that are part of the move to Jacksonville. One thing is for sure, its official, more people are moving to Jacksonville, so says a new Realtor.com study
Why not, right? More to like in Florida with the sun, water and fun. Yes, it can be hot and a bit humid, but we can tolerate this for a while. Yes, we have a few windy storms, but the winters can be down right nice.
Data shows more people are moving to Jacksonville
Another fast-growing metropolitan region in recent years has been Jacksonville, Florida—a 5% increase in the past two years. Most of those migrants – more than 13%, according to census data – come from the Miami and Orlando regions. The cost of living is greater in Miami and Orlando than it is in Jacksonville.
When it comes to Realtor.com’s own members, the majority of online interest in real estate in Jacksonville comes from online browsers in New York and New Jersey. Also do not forget that 12% of all real estate transactions for 2016 were made by overseas investors for properties in the State of Florida. Florida has become a worldly destination too.
The Amazon effect
“Part of that formula has been the job sector,” says Vivas. “In Florida, where you see a lot of cities where some of the demand is coming from outside, I think Jacksonville is a bit of an exception where you see people wanting to move there for jobs.”
Amazon recently opened up their new 1.1 million square foot warehouse facility. The mega-company has stated it has an interest to develope at least three more warehouses in Jacksonville. One would hopefully allow Prime members to order items in the morning and have them delivered in the afternoon. This is already the case in many other cities. Could drones be dropping off at your door soon? Maybe.
Everything is bigger in Texas
According to data and estimates from the U.S. Census Bureau, the metropolitan region that has seen the biggest bump in population is Austin, Texas, with a 7.8% increase between 2015 and 2017. But Austin’s pull has been felt by people in other cities too, says Javier Vivas, manager of economic research for Realtor.com. “It’s not just people from Texas moving to Austin, it’s actually people even from the west coast,” he told FORBES. “You’re seeing a lot of L.A. workers moving over into the Austin market. Part of that has been a good combination of job growth in the Austin area, but then also there’s the factor of lifestyle. ” Housing costs have played a role too, he added, as Austin’s cost of living has been lower than Los Angeles and San Diego.
State Income Taxes anyone?
Something both Texas and Florida share is no state income taxes. People flocking from California to Texas and the New York/Jersey people heading to Jacksonville do so with more money in their pockets. Who can’t use more money in their pockets these days? Here is a great article I wrote about making more money when you move.