TAMPA, Fla. (WFLA) — A growing number of Floridians are “seriously considering” leaving the Sunshine State over the cost of living, according to a recent poll by Florida Atlantic University’s Business and Economic Polling Initiative (BEPI).
Researchers with the university surveyed 1,000 Floridians on their economic concerns, household budgets and constraints to see if the “American Dream” still feels attainable.
The poll showed that 53% of Floridians believe in the “American Dream,” while 42% no longer do.
“Floridians believe in the ‘American Dream,’ but they are paying dearly for it,” said Monica Escaleras, Ph.D., chair of the department of economics and director of BEPI. “The Florida promise of sun, growth and upward mobility remains alive, but it is getting expensive to hold on to.”
The survey also found that nearly half of Floridians have considered moving out of the state due to the cost of living, with 26% of respondents “seriously considering it.”
“The moving consideration rate is striking as it suggests that while Florida attracts new residents, many current ones feel squeezed enough to think about leaving,” said Eric Levy, assistant director of FAU’s BEPI. “An affordability anxiety shadows Florida’s boom economy: can residents afford to live here and provide for themselves?”
According to the poll, the high cost of living is a “pressure point” for the state. 90% of respondents said they are at least somewhat concerned about inflation and 80% are concerned with housing affordability.
43% of respondents said they live paycheck to paycheck, and only 48% have an emergency fund covering at least three months of expenses, the data showed.
“For most Floridians, financial security feels one expense away from collapse,” Escaleras said. “Many of those surveyed attributed the high cost of living to not being able to save more.”
To see the full results of the survey, click here.
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