Home Prices and Insurance Fears Fueling Central Florida’s Population Growth: Highest in Country
Category: Best Retirement Towns and States
March 21, 2024 — Four of Florida’s interior Metros are among the five fastest growth in the country.(#3 is Myrtle Beach, SC). The data comes from the U.S. Census Bureau’s population growth figures from 2022- 2023. We speculate that much of the reason for the growth is coming the Metro’s more affordable home prices and better insurance environment. The South in general is experiencing the most rapid numerical growth in the country.
The top 5 fastest growing Metros in the country
The Villages/Wildwood – The Villages, the giant active adult community with well over 120,000 residents, extends over 3 counties south of Ocala, and grew 4.7% in the year. When it comes to real estate prices, the popularity of The Villages makes it an outlier. With a Zillow Home Value Index of $407,000, it is the most expensive Metro to make the top 5.
Comments on "Home Prices and Insurance Fears Fueling Central Florida’s Population Growth: Highest in Country"
John says:
Due to insurance cost increases and HOA fees skyrocketing, I am looking in South Carolina for my retirement destination. Northern Arizona is also on my radar for a retirement destination.
Larry says:
Insurance does not appear to be much of a driver for inland migration. Downtown Port St. Lucie is a couple of miles from the ocean (proximity is inherent in the word “port”). And, as the article states, and pricing data more than implies, insurance has not been a deterrent to people gobbling up properties in Ft. Myers, no matter the recent ugly history with hurricanes. Home sale prices there have more than tripled since just 2010. Living near water is still a magnet for many people, no matter what threat that water poses.
Admin says:
You are right about the seemingly insatiable demand for properties near the water. Homes being gobbled up there in all cash deals at higher and higher prices, and in the face of huge insurance premiums. The most important driver of of the growth in the top 5 markets is their relative affordability in Florida. Insurance costs might eventually price some people out of the coastal markets.