Florida’s middle-class residents are being driven out of the state by rising costs and heading to cheaper parts of the U.S., according to a new report.
Many working Floridians are leaving the state due to affordability concerns, according to the Wall Street Journal. Key issues include soaring housing prices — driven by an uptick in wealthy residents moving in from other states — and rising inflation in the state, the Journal reports. The average home price in Florida has leveled off in recent years, now sitting at $375,000, but that is up from an average of $253,000 before the pandemic, according to Zillow.
