A recent report from Orlando Business Journal shows that Florida’s seven-figure earners are on the rise, with 77,670 tax returners making at least $1 million in 2022, an 8% increase since 2021 It has become clear.
In contrast, most other US states saw a decline in high-income earners, down 2% nationwide. This trend emphasizes the migration of wealth to Florida.
The luxury real estate market is responding to this growth with increasing demand in regions such as Windermere, Winter Park and Lake Nona. However, developers need to consider vacancy rates, tenant demand, and construction timelines.
Recent projects such as WYLD Oaks mixed use centre in Apopka reflect this high-wage growth, with connectivity with key employers and spacious living options when employees return to the office It focuses on.
In an interview with an alumni. Brendon Dedekind of Trammel Crow Co. highlighted the uncertainty of the time when demand peaks in 12 or 36 months.
“We’re here where we know that demand is coming, but what’s the question of whether it’s 12 months or 36 months away?” Dedekind said. “Do I jump into the boat and sometimes start moving towards that demand? I’m early, am I stuck?
