Florida has long been a popular destination for New Yorkers seeking sunshine and warmth, with over 1.6 million Floridians originally hailing from the Empire State. However, recent data suggests a shift in trends as more Floridians are now moving to New York.

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    According to a recent study by PropertyShark, Floridians are among the most active buyers in New York's real estate market. In the first half of 2024 alone, they spent a whopping $315 million on properties, a significant increase from a decade ago. This surge in interest is primarily driven by Florida's high insurance rates and hazardous weather conditions.

    While Florida continues to attract new residents, data shows that more Floridians are now moving to New York. Shutterstock

    In the first half of 2024, Floridians purchased a total of 219 homes in New York City, spending $315 million, a significant increase from a decade ago. Shutterstock

    In 2022, nearly 739,000 people moved to Florida, while about 490,000 left, with 21,300 of them heading back to New York. This influx of Floridians into New York City's property market has them rubbing shoulders with other high-spending buyers. The top ones come from neighboring New Jersey, which leads the pack with 345 deals this year.

    However, New Jersey's dominance is waning as their share of out-of-state buyers dropped from 27.6% in 2014 to 19% now, and they're spending $47 million less compared to a decade ago.

    Florida's high-end buyers continue to dominate New York's luxury market, spending a staggering $150 million on homes worth $3 million or more. PropertyShark

    Californians are also making their presence felt in New York's residential market, with their share growing from just under 10% to 13.4% over the past decade. They've increased their spending by a cool $107 million since 2014, bringing their total to $352 million in the first six months of 2024 alone.

    While out-of-staters are busy buying, local New Yorkers aren't exactly sitting on the sidelines either. The Bronx is bucking the trend with a 20% increase in home purchases.

    New Jersey residents may still be the most active out-of-state buyers in NYC, but their numbers have dropped significantly. PropertyShark

    It remains unclear whether these homes that Floridians are buying are primary or secondary residences.