Some day, every major city in Florida could be as crowded as Miami.
We're basically adding a new Orlando every year.
Florida will continue growing by more than 300,000 people a year and will top 22 million residents in 2022, according to a report posted online this week by state economists.
The Demographic Estimating Conference updated population forecasts through April 1, 2024 and showed steady growth during the multi-year period.
“Between April 1, 2018 and April 1, 2024, population growth is expected to average 330,605 net new residents per year (906 per day), representing a compound growth rate of 1.53% over this six-year time horizon,” an executive summary of the report said. “These increases are analogous to adding a city slightly larger than Orlando every year.”
The report estimated the population on April 1, 2018, at 20.84 million, with it increasing to 21.2 million on April 1, 2019. It is forecast to hit 22.2 million as of April 1, 2022 and be at 22.8 million on April 1, 2024. The population increases will primarily stem from “net migration” as people move into the state, rather than births, which are largely offset by deaths.
This influx is creating a demand not only for the housing and apartment sector, but retail, and office space as well, to support the job growth which is making Florida very attractive to investors seeking higher yields across new markets and fast growing states like Florida.
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