“South Florida by the numbers” is a web feature that catalogues the most notable, quirky and surprising real estate statistics.
Last month, we examined how a proposed tax initiative helped drive high-profile California billionaires from the Golden State to Miami. But the migration story is not just about what people are leaving — it is about what they are moving toward.
The steady influx of prominent entrepreneurs and major FinTech firms into Florida is too strong to ignore, so this month, we shift the lens from the “push” to the “pull,” examining the powerful economic, lifestyle and policy forces attracting decision-makers and high-income earners to the Sunshine State.
Will this sustained southward momentum create a broader ripple effect across the entire real estate market? We explore that question and more in this edition of “South Florida by the numbers.”
$10 million
Steve Ross and Ken Griffin’s contribution to the “Ambition Accelerated” fund; a national campaign launched this month to persuade businesses to relocate to South Florida. Both billionaires moved to the region from the cities where they made their fortunes — New York and Chicago, respectively — and highlighted the area’s access to talent, regulatory predictability, cost structure and quality of life in their public statements about the campaign.
4,000
Estimated number of employees at Palantir Technologies, the publicly traded AI software firm that abruptly announced its headquarters move from Colorado to Aventura earlier this month. Co-founder Peter Thiel moved to Miami himself in 2020, and while it is unclear how many Palantir employees will be relocating with the headquarters, Colorado regulations about AI use and protests against the company’s ties to ICE are considered factors in the move.
4
Percentage increase in the median price of Miami single family homes last month — despite unprecedented momentum, recent trophy sales and never-before-seen pricing in the ultra-luxury segment. This data reflects trends spotted by leading South Florida agents, including Master Brokers Forum member Jill Penman, who say a trickle-down effect to the broader residential market has yet to fully materialize.
55,244
The number of workers who moved to the Miami metro area for work in 2024, with highly skilled and high-earning employees working in professional, scientific and technical fields accounting for the largest share of these newcomers at nearly 13 percent, according to U.S. Census data reported by Realtor.com last week. That’s nearly double the share of lower-income earners who relocated to Miami during the same period. While the state’s net migration has dropped significantly from its peak pandemic highs, Miami remains a magnet for out-of-state professionals.
15
Florida’s ranking among global economies, having just overcome Spain and reportedly close to toppling Australia. Florida Chamber of Commerce president and CEO Mark Wilson cited the Sunshine State’s aggressive private-sector growth, unity among business and elected leaders, low taxes, high quality of life and innovation-friendly policies as reasons for this success.
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.