cost of living Archives — Beating Broke

Leaving Florida: 8 Reasons Why People Are Moving Out Of Florida and Going to Texas Instead

February 10, 2025 By Teri Monroe Leave a Comment

Leaving Florida and Moving to Texas — Image Source: Pexels

In 2024, more than 500,000 people left Florida for other states, according to the Florida Chamber of Commerce. This was the largest exodus of residents in the state’s history. Why are so many people leaving Florida? From cost of living concerns to an increase in natural disasters, some are giving up on the Florida dream and relocating. Here are 8 reasons why people are leaving Florida and moving to Texas.

1. Lower Cost of Living

While Florida has no state income tax, the cost of living in recent years has skyrocketed. As a result, many people are leaving Florida. Texas is still below the national average for cost of living, while Florida is now slightly higher. This includes grocery prices, housing, rent, and taxes.

2. Fewer Tourists

Florida is known for its snowbirds in the winter, and its beaches and resorts are a destination for many. Plus, areas like Orlando, home of Disney World, draw many tourists from around the world. While tourism drives Florida’s economy, it can be frustrating for residents when traffic increases and local establishments are flooded with patrons. In Texas, while there is some tourism at popular attractions, it is nowhere near the level of tourism in Florida.

3. Less Natural Disasters

According to the National Center for Environmental Information, from 1980–2024, Florida has had 94 weather and climate disaster events with losses exceeding $1 billion each. While Texas experiences more droughts, Florida has had several severe hurricanes in the last few years, causing costly damage.

4. Lower Insurance Costs

Because of the recent hurricanes, property insurance in Florida has become very expensive. In 2024, the average cost of property insurance in Florida was projected to be around $11,759, which is much higher than the national average. Some insurance companies have revoked coverage for some properties, creating an insurance crisis in the area. In comparison, Texas’ property insurance costs are less than half of Florida’s.

5. More Stable Housing Market

As many people are leaving Florida due to soaring costs, they are finding that it has become difficult to sell a home in Florida. Texas homes may be a better investment in the long term.

6. More Available Land

Since Florida has seen a rise in development, there is less available land. Texas on the other hand has more available land and more diverse landscapes. Most Texans live in a small percentage of incorporated land, with much of the state’s land open and uninhabited.

7. Better Weather

While both states have warm weather, Florida is known for its rainy season in the summer. You can expect at least one shower per day. Texas has a more varied climate and much less humidity than Florida.

8. More Diverse Job Market

While Florida’s economy has grown at a rapid pace, it is still largely driven by tourism. The Texas economy is comprised of various sectors such as agriculture, manufacturing, services, and technology, creating a diverse job landscape. This is very reflective of the diversity that is found throughout Texas.

Are you considering leaving Florida? Where do you plan to move?

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Teri Monroe

Teri Monroe started her career in communications working for local government and nonprofits. Today, she is a freelance finance and lifestyle writer and small business owner. In her spare time, she loves golfing with her husband, taking her dog Milo on long walks, and playing pickleball with friends.

7 Reasons These 4 States Are Becoming Hotspots for Middle-Income Families

January 14, 2025 By Latrice Perez Leave a Comment

Middle-income families across the United States are on the move, seeking places where they can balance affordability, quality of life, and economic opportunities. Some states have become magnets for these families due to their unique combination of benefits. From job growth to housing affordability, these factors make a compelling case for relocation. Below, we highlight four states attracting middle-income families and explore seven key reasons driving this trend.

1. Affordable Housing Markets

One of the top priorities for middle-income families is finding a home within their budget. States like Texas, Tennessee, Florida, and Idaho offer housing markets where the cost of living is more manageable compared to coastal states. These areas boast lower property taxes and ample housing options, from single-family homes to modern apartments. For example, Texas offers spacious homes at prices that are a fraction of what you’d find in California or New York. Affordable housing allows families to allocate more resources toward education, savings, and leisure.

2. Thriving Job Markets

Economic opportunities are another significant draw for middle-income families. States like Florida and Texas are known for their booming job markets, thanks to industries such as technology, healthcare, and tourism. Florida’s robust hospitality sector and Tennessee’s growing automotive industry offer jobs that cater to various skill levels. Meanwhile, Texas has become a hub for tech startups and established companies alike, providing stable employment opportunities. These growing economies also contribute to lower unemployment rates, creating a sense of financial security for relocating families.

3. Lower Taxes

Tax policies in these states often favor middle-income families, making them more attractive destinations. For instance, Florida, Tennessee, and Texas do not impose state income taxes, allowing families to keep more of their earnings. Idaho, while not tax-free, offers relatively low state income tax rates. These tax-friendly environments can significantly reduce financial strain and provide families with greater spending power. Lower taxes also mean more money can be saved for long-term goals, such as retirement or college tuition.

4. Strong Educational Systems

Quality education is a top consideration for families with children, and these states deliver on that front. Tennessee, for example, has made significant investments in its public school system through initiatives like the Tennessee Promise, which offers free community college for high school graduates. Texas is home to some of the best school districts in the country, providing robust academic and extracurricular programs. Florida offers a variety of school choice options, including charter schools and scholarship programs, giving families greater flexibility. Access to strong educational resources ensures that children can thrive academically and socially.

5. Family-Friendly Communities

Beyond housing and jobs, these states foster family-friendly environments that make them ideal for raising children. Florida’s abundance of parks, beaches, and family-oriented attractions like Disney World cater to an active lifestyle. In Idaho, smaller towns like Coeur d’Alene provide tight-knit communities where neighbors look out for each other. Texas and Tennessee also feature neighborhoods designed with families in mind, offering amenities like playgrounds, community centers, and safe streets. A supportive community enhances the overall quality of life, making these states more appealing to relocating families.

6. Access to Outdoor Recreation

Middle-income families increasingly value outdoor activities as a way to spend quality time together and maintain a healthy lifestyle. Idaho is a haven for outdoor enthusiasts, offering activities like hiking, skiing, and fishing amid breathtaking natural landscapes. Florida’s sunny weather and miles of coastline make it a paradise for beach lovers and water sports enthusiasts. In Texas, families can explore diverse terrains, from the Gulf Coast beaches to the sprawling Hill Country. Tennessee offers scenic beauty with the Great Smoky Mountains, attracting nature-loving families looking for adventure.

7. Lower Cost of Living

Overall affordability is a crucial factor driving families to these states. Living costs in Texas, Florida, Tennessee, and Idaho are generally lower than in major metropolitan areas like Los Angeles, San Francisco, or New York. Essentials such as groceries, utilities, and transportation are more budget-friendly, allowing families to stretch their dollars further. This lower cost of living provides financial breathing room and reduces stress, enabling families to enjoy a higher quality of life without sacrificing their savings.

Why Families Are Choosing These States

The combination of affordability, economic opportunities, and quality of life makes these states prime destinations for middle-income families. Moving to Texas, Florida, Tennessee, or Idaho offers families a chance to secure a better financial future while enjoying a vibrant lifestyle. If you’re considering a move, these states provide compelling reasons to make a change. Share this article with friends or family who might be thinking about relocating—they may find their next home in one of these thriving states.

Do you live in one of these states? What pushed you to make the move and was the move successful? Let us know in the comments below.

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Latrice Perez

Latrice is a dedicated professional with a rich background in social work, complemented by an Associate Degree in the field. Her journey has been uniquely shaped by the rewarding experience of being a stay-at-home mom to her two children, aged 13 and 5. This role has not only been a testament to her commitment to family but has also provided her with invaluable life lessons and insights.

As a mother, Latrice has embraced the opportunity to educate her children on essential life skills, with a special focus on financial literacy, the nuances of life, and the importance of inner peace.

Millennials Will Be Living With Their Parents Forever: 12 Ways to Get Out

May 24, 2024 By Catherine Reed Leave a Comment

Millennials face unique financial challenges that can make achieving independence difficult. Rising living costs, student debt, and an uncertain job market have all contributed to this generation’s extended stay in their parents’ homes. However, there are practical strategies millennials can use to gain financial independence and move out. Here are 12 effective ways to break free.

1. Create a Budget and Stick to It

Developing a budget is crucial for financial independence. Track your income and expenses to understand where your money goes. Identify areas where you can cut back and allocate more funds towards savings. Consistently sticking to a budget helps build financial discipline and allows you to save for future expenses like rent and utilities.

2. Increase Your Income Streams

Relying on a single source of income can be risky. Explore additional income opportunities such as freelancing, part-time jobs, or side hustles. Diversifying your income streams can provide a financial cushion and accelerate your savings. Utilize skills and hobbies to generate extra income, making it easier to afford independent living.

3. Pay Off Debt Aggressively

Debt can significantly hinder your ability to move out. Prioritize paying off high-interest debt such as credit cards and personal loans. Consider using the snowball or avalanche method to tackle your debts efficiently. Reducing your debt burden frees up more of your income for savings and living expenses, making it easier to achieve independence.

4. Build an Emergency Fund

An emergency fund acts as a financial safety net, covering unexpected expenses without derailing your budget. Aim to save at least three of living expenses, with six months being the next goal. Having a robust emergency fund provides significant peace of mind and ensures you won’t have to rely on credit or family in times of financial crisis.

5. Improve Your Credit Score

A good credit score is essential for securing housing and loans at favorable rates. Regularly check your credit report for errors and pay your bills on time. Reduce your credit card balances and avoid opening unnecessary new accounts. A strong credit score opens doors to better financial opportunities, including renting your own place.

6. Share Living Expenses with Roommates

Living alone can be expensive. Consider finding roommates to split rent, utilities, and other expenses. This arrangement can make living independently more affordable. Choose reliable and financially responsible roommates to ensure a smooth living situation. Sharing expenses allows you to save money while enjoying the benefits of independent living.

7. Look for Affordable Housing Options

Explore different housing options that fit your budget. Consider renting a smaller apartment, living in a less expensive neighborhood, or looking for housing with included utilities. Be open to compromises that make independent living more financially feasible. Affordable housing options can provide a stepping stone towards complete financial independence.

8. Enhance Your Skills and Education

Investing in your education and skills can lead to better job opportunities and higher income. Consider taking courses or certifications that are relevant to your career. Continuous learning enhances your employability and opens doors to promotions and salary increases. Higher income makes it easier to save for moving out and maintaining independence.

9. Network and Seek Career Advancement

Networking can significantly impact your career progression. Attend industry events, join professional associations, and connect with peers and mentors. Building a solid professional network can lead to job opportunities and career growth. Career advancement often comes with higher income, making financial independence more attainable.

10. Practice Minimalism

Adopting a minimalist lifestyle can reduce living expenses and help you save more. Focus on purchasing only what you need and avoid unnecessary spending. Declutter your living space and sell items you no longer use. Minimalism encourages mindful spending and can significantly boost your savings, paving the way for independent living.

11. Consider Remote Work Opportunities

Remote work can offer more flexibility and potentially higher savings. You can choose more affordable living arrangements without commuting expenses and the need to live near your workplace. Look for remote job opportunities that match your skills and career goals. Remote work can provide the financial flexibility needed to move out of your parents’ home.

12. Set Clear Financial Goals

Having clear financial goals provides direction and motivation. Set short-term and long-term goals, such as saving a specific amount for a security deposit or achieving a certain income level. Break down these goals into actionable steps and track your progress. Clear goals keep you focused and determined to achieve financial independence.

Millennials Don’t Have to Live with Their Parents Forever

Millennials face unique challenges, but with careful planning and disciplined financial habits, it is possible to gain independence and move out of your parents’ home. By implementing these 12 strategies, you can build a secure financial foundation and enjoy the freedom of independent living.

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Catherine Reed

Catherine is a tech-savvy writer who has focused on the personal finance space for more than eight years. She has a Bachelor’s in Information Technology and enjoys showcasing how tech can simplify everyday personal finance tasks like budgeting, spending tracking, and planning for the future. Additionally, she’s explored the ins and outs of the world of side hustles and loves to share what she’s learned along the way. When she’s not working, you can find her relaxing at home in the Pacific Northwest with her two cats or enjoying a cup of coffee at her neighborhood cafe.