This man is now leaving Miami thanks to skyrocketing prices and shifting lifestyles in Florida — why the Sunshine State is suddenly seeing ‘the largest drop’ in incomers in a decade

Bunch achieved his dream of living in South Florida in 2021. But just a few short years later, he's packing up and heading to Atlanta instead. It seems surprising to leave a place he had dreamed of for most of his life, but Bunch has his reasons — and he's not alone in leaving the Sunshine State.

Here's why more residents are packing their bags and saying goodbye to South Florida for good.

High prices and limited career opportunities

Although Florida’s population growth surged in recent years, new data shows a shift. In 2023, about 511,00 people left the Sunshine State, while just 637,000 moved in — nearly half the number that arrived the year before. The American Prospect called it "the largest drop in net migration in a decade."

Young people like Bunch are leading the exodus, departing not just from Miami-Dade but from surrounding counties such as Broward and Palm Beach, as well as from other major metro areas like Tampa.

About 25% of those leaving Florida are between the ages of 20 and 29. Those moving in are older, wealthier and affected by the sluggish job market and soaring housing costs, driving Bunch and others away.

"Younger residents, particularly those aged 20-29, are leaving in significant numbers," said the latest migration report from the Florida Chamber of Commerce. "Factors cited include the high cost of housing and perceived limited in-state job opportunities for early-career professionals."

Both of those factors pushed Bunch to give up his dream of life in Miami.

"The salaries don't add up to the cost of living here," Bunch said. "Overall, the cost of everything is so much more expensive than it was four years ago."

He’s not wrong. While Florida's unemployment rate in March 2025 was 3.1% — lower than the national average of 4.2% — the quality of job opportunities is another story. The median annual salary in Florida was $52,400 in 2024, compared with the national median of $59,400, according to ADP Pay Insights. Meanwhile, the cost of living in Miami is 19% higher than the national average, according to Payscale.