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Southwest Florida Sees Booming Population Growth
It seems the state of Florida has moved past the worst of the Great Recession, and people are now moving back to the Sunshine State. The population has risen from 18.8 million to more than 20 million from 2010 to 2012. Researchers project 192,091 new faces will arrive in Lee, Collier and Charlotte counties over the next seven years.
The latest government figures show starts and permits ramping up sharply both nationally and locally, indicating builders’ optimism about the future — despite rising costs for land, building materials and labor. Permits nationally are running at the highest levels they’ve been in the last five years. Southwest Florida outpaces the nation, at least for one- and two-family homes.
The Naples, Florida area, and Collier County where the Ave Maria (http://www.avemaria.com) real estate community resides, is expected to reach at least 50,000 new residents by 2020. The projections are from the University of Florida and based on past growth. Population growth increases fuel economic development and brings new businesses to the area. Many of these homebuyers are baby boomer retirees from the Midwest and Northeast, but some are also younger.
People move to Florida for a wide variety of reasons: retirement, job opportunities, no personal income tax, waterfront property, warmer weather, and activities are top selling points. Housing inventory is being reduced and construction is picking up: both attractive things to new residents.
In fact, Florida is on track to surpass New York in the next couple of years if it hasn’t yet already. It would rank as the third most populous state behind California and Texas. For now, growth is trending steadily upwards in Southwest Florida and we’ve seen more new residents in Ave Maria.