TAMPA, Fla. (WFLA) – A recent poll by the Florida Atlantic University Business and Economics Polling Initiative (BEPI) found that more Floridians are “seriously considering” leaving the Sunshine State because of the cost of living.
Researchers at the university surveyed 1,000 Floridians about their financial concerns, household finances, and constraints to see if the “American Dream” is still achievable.
According to the poll, 53% of Floridians believe in the “American Dream,” but 42% no longer believe in it.
“Floridians believe in the ‘American Dream,’ but they pay a high price for it,” said Dr. Monica Escaleras, Economics Department Chair and BEPI Director. “Florida’s promise of sun, growth, and upward mobility is still alive, but it’s becoming expensive to maintain.”
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The survey also found that nearly half of Floridians have considered moving out of state due to cost of living, and 26% of respondents are “seriously considering it.”
“While Florida is attracting new residents, the relocation rate is alarming, suggesting that many current residents are feeling overwhelmed enough to consider leaving,” said Eric Levy, assistant director of FAUBEPI. “Florida’s booming economy is overshadowed by affordability concerns. Can residents afford to live here and support themselves?”
High cost of living is a “pressure” on the state, according to the poll. Ninety percent of respondents said they were at least somewhat concerned about inflation, and 80% were concerned about housing affordability.
According to the data, 43% of respondents said they lived paycheck to paycheck, and only 48% had an emergency fund that covered at least three months’ worth of expenses.
“For most Floridians, financial security feels like one expense away from collapse,” Escaleras said. “Many of those surveyed believe their high cost of living is due to their inability to save more.”
Click here to see the full survey results.
