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Florida Population Expected to Reach 20.7M This Year

Florida remains a national leader in population growth, driven by excellent employment numbers, lagging home prices and favorable consumer sentiment. We foresee optimism prevailing in the short term.

By Toby Tobin
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ORLANDO, Florida – Aug. 17, 2016 – Cushman & Wakefield released their inaugural Florida Population Report, an examination of population trends and its economic impact in Florida.

The report, compiled by Cushman & Wakefield's Research Team, analyzes population growth, employment levels, home values and retail sales activity in Florida's eight major markets – Fort Lauderdale, Fort Myers, Jacksonville, Lakeland (Polk County), Miami-Dade County, Orlando, Tampa-St. Petersburg and West Palm Beach. It issued a statewide report and individual reports for each of the eight markets.

Key report findings

  • Florida's population will reach 20.7 million by the end of 2016. In 1910, the state had a population of 1 million people; by 1980 it grew to 10 million. Since then, the population has doubled.
  • Florida's population grew 1.84 percent in the past year, trailing only North Dakota, Colorado and Nevada as the fastest-growing states. Florida trailed California (39.14 million) and Texas (27.5 million) in overall population.
  • Florida's population grew by more than 1,000 people per day, a pace that has accelerated over the past year. Jobs are the No. 1 reason people are attracted to the state. The trend is driven, in part, by economic challenges in Puerto Rico. Puerto Rico's population declined 1.7 percent over the past year, with most exiting residents settling initially in Florida.
  • For the past 38 months, Florida's job-growth percentage has exceeded the national average. In the past 12 months, 244,500 new jobs were added, a 3 percent growth rate. Most new jobs supported the expanding healthcare, logistics and home construction markets. Retail and hospitality also contributed to the state's employment performance.
  • Current home prices in Florida were down $42,000 compared to fourth quarter 2006 values. Prices have rebounded since bottoming out in 2011, however, rising by an average $83,000 in the span of five years. Tight supply and pent up demand are driving price increases and pace of sales.
  • Retail sales continued to highlight consumer optimism and a favorable local economic climate. Florida's economy enjoyed elevated consumer confidence despite uncertainty at the national level caused by the upcoming presidential campaign.

"Florida remains a national leader in population growth," says Chris Owen, Florida research manager. "This is driven by excellent employment numbers, lagging home prices and favorable consumer sentiment. We foresee this optimism prevailing in the short term."

Regional and metro area reports

© 2016 Florida Realtors®. All rights reserved, Reprinted with permission.

reader comments
Bue Chip Community - Palm Coast Project
Posted by George Edward Chuddy
Aug 17, 2016, 1:48 pm
What helped the Levitt & I.T.T. - ' Palm Coast Project ' with population growth, economic growth and quality of life last Century below.

Hopefully Heritage MARKERS and Historic Landmark MARKERS, which we are eligible for many, will be pursued this Century to hopefully further enhance ' Palm Coast ' -familiarity with our past helps us better approach the future .

Mixson Honors Palm Coast as Blue Chip Community

Palm Coast–The red carpet was out Tuesday afternoon as I.T.T. Community Development Corp. officials gave Lt. Gov. Wayne Mixson a grand tour of Palm Coast and Mixson in turn presented the developers of Palm Coast with the state’s Blue Chip Award.
Mixson flew into Bunnell airport about 3 p.m. and was taken to Perma Systems, a subsidiary of Hexagon, a Swedish conglomerate which recently opened the plant that manufactures window awnings in one of three Palm Coast Industrial Parks.
After a ribbon cutting ceremony at Perma Systems, Mixson toured Palm Coast and attended a reception at Pine Lakes Country Club where he presented the state Department of Commerce, Division of Economic Development’s Blue Chip award to Jim Gardner , president of I.C.D.C. ( the Gardner he references is Poppa to J. Gardner, son, Flagler County Property Appraiser )
Palm Coast joins New Smyrna, Pensacola, St. Augustine, Bradford County and Gainesville as Blue Chip communities.
” By achieving Blue Chip certification, Palm Coast has demonstrated that it is serous about attracting and retaining high quality industry. The community’s professional approach to balanced economic development has satisfied the strict requirement of the Blue Chip certification process,” Mixson said.
To meet the Blue Chip requirements, a community has to have a professional Industrial development staff; high quality of life; community information packages; satisfied existing companies; attractive financing and developed industrial sites buffered from residential areas.
” Palm Coast exceeded the Blue Chip requirements in many areas,” said Ernie Maddock, I.C.D.C. vice president of industrial development. Maddock, along with Howard Grace, I.C.D.C. industrial sales representative, met Mixson at the Airport.
Mixson described the Blue Chip certification as especially helpful to communities that don’t have a large developer such as I.C.D.C. to help attract industry.
” Blue Chip certification is promoting communities to create jobs, which this state absolutely needs. We are growing so fast we need industry to balance the tax base in the state. WE have plenty of lower level service type jobs, but we need higher paying industrial type jobs to keep our young people in the state.” Mixson said.
In the past 18 months, I.C.D.C. has attracted five new companies that are expected to provide 600 jobs in Palm Coast. Maddock said the corporation has set a goal of 350 new jobs in the next five years.
Referring to last month’s fires that destroyed 131 homes in Flagler County, Mixson said: ” Even though there has been hardship, I see a pride emerging that makes the community great…The Blue Chip Award tells Industry that not only is Florida a good place to fish, swim, and play golf , but also a good place for industry, : Mixson said.
After accepting the award from Mixson, I.C.D.D. President Gardner said: ” I consider this Blue Chip award a tribute not only to our company but to Palm Coast , Flagler County and the people in this room. We have all played a part in the economic growth and quality of life that earned Palm Coast this honor.”
Daytona Beach News Journal, June 19, 1985


Ocean Hammock Property Values effect by STVR
Posted by Ron
Aug 17, 2016, 1:47 pm
With the population continuing to expend in Florida those seeking to relocated as residents will continue to find shortage of homes in counties and cities in our state that have been strip of home rule by our local officials back in 2011 when they sided with the vacation rental industry and pass SB 883.

I am calling on the Hotel industry and owners of Bed and Breakfast facilities to ask our legislature to repeal Senate bill 883. Why would you allow a public lodging establishments to operate a transient business in a single family residential community? A single family vacation rental dwelling are not held to the same standards as other public lodging establishments.

Would a buyer even consider buying a single family home next to a dwelling being used as a transient public loading establishment? Constant occupancy changes daily just like a hotel or motel. This business model is causing property values in our communities to drop further than those that have protection in place prior to 2011.

What about the property rights of the residents that built their homes prior to the enactment of Senate bill 883? This bill only benefits greedy vacation management companies and investors.

It is time that our Senators and Representatives to correct a wrong and Repeal Senate bill 883!

 
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Don "Toby" Tobin is a licensed real estate professional affiliated with Grand Living Realty. Toby is a member of the Flagler County Association of Realtors®, the Florida Association of Realtors, Enterprise Flagler, Flagler Home Builders Association, and the National Association of Realtors.

GoToby.com proivdes real estate news, commentary, and analysis for Palm Coast and Flagler Country Florida, as well as Realtor® referrals and consultation to buyers, sellers, and developers.