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Florida Population Growth Fuels Market

May 10, 2006

Currently Florida’s net average daily population growth is 1,060 people per day. Daily migration into Florida is actually 1,890. About 945 people leave our state while the birth rate minus death rate is brings an additional 115 persons. The average age of persons moving to Florida may be younger than most would guess. The breakdown per age group is as follows:
8.3% are ages 14-15
6.8% are ages 15-24
9.2% are ages 25-34
11.8% are ages 35-44
14.9% are ages 45-54
24.4% are ages 55-64
24.6% are ages 65+

Florida’s strong job market is a major factor in attracting those under 55 years old. The ten states from which Florida receives most of it’s growth are New York, Georgia, New Jersey, California, Pennsylvania, Ohio, Massachusetts, Texas, Illinois and North Carolina.

Sarasota County is expected to grow at a rate of 7 to 9% over the next four years. Currently the median age in Sarasota is 50 years old. The income per capita is $48,246. Per capita income is only higher in Martin, Palm Beach and Collier counties.

As Florida continues to grow the demand for housing will only increase. Our market is currenlexperiencinging a temporary lull and at the moment is a buyers market. If your plans are for the longterm, now is an excellent time to find your dream home.

Additional information on population studies can be found at http://bebr.ufl.edu/articles/paper_free.aspx

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