Due to rising home prices and stagnant wages, more Miami residents are moving north! An article published by FloridaRealtors.org cited a recent study completed by Florida International University. This study found a 106,591 resident outflow from the Miami area since 2010. Many of these migrating residents are seeking homes in North Florida, including the Greater Daytona Beach Area. With Miami home prices increasing dramatically in recent years and the average household income holding steady since 2011, South Florida residents are looking for homes that are less expensive, in an area that still offers excellent amenities and proximity to the coast.
Enter Daytona Beach! According to Bert Sperling’s Best Places report published at www.bestplaces.org, the overall cost of living in Daytona Beach is 28% lower than Miami, and housing prices are an astonishing 62% lower in the Daytona Beach Area! With our miles of white sand beaches, area attractions, and proximity to Orlando and Jacksonville, Daytona Beach has become an increasingly popular destination for migrating South Floridians. This influx of new residents will bring greater activity to our local real estate market, and will likely increase local home values!
If you are looking to buy or sell real estate in the Greater Daytona Beach Area, call 386-236-3700 or visit our sales office located at 3162 S Atlantic Avenue in Daytona Beach Shores. A member of our expert Oceans Luxury Realty team will be happy to assist you!