New York to Florida migration continues to reshape South Florida's luxury real estate market in 2025. Everyone knows the story. Californians and New Yorkers flee progressive policies, land in Texas and Florida, then vote to recreate what they left behind.
The data tells a different story—and as a former physician turned South Florida luxury real estate expert, I have the local knowledge and two decades of experience to help you understand what it means for your investment strategy.
As a Florida real estate expert with over 20 years of residency and extensive experience in South Florida's luxury property market, I've witnessed firsthand the unprecedented wealth migration transforming our region. Between 2018 and 2022, more than 30,000 New Yorkers relocated to South Florida, bringing with them $9.2 billion in income. These aren't random movers. They're high-net-worth individuals making calculated decisions about tax policy, business climate, and lifestyle.
And contrary to popular belief, they're not turning Florida blue.
The 2025 NYC Mayoral Race Accelerates South Florida Migration
The November 2025 election of democratic socialist Zohran Mamdani as New York City's next mayor has intensified concerns among high-net-worth individuals. Mamdani's platform includes a new "millionaire's tax" that would add an additional two-percent levy for New Yorkers earning more than $1 million a year, raising the combined city and state top rate to 16.776 percent—by far the highest in the nation.
Following Mamdani's primary victory, Florida realtors report a surge in inquiries from wealthy New Yorkers looking to relocate. As someone who has navigated South Florida real estate for over two decades, I can confirm this surge is real and accelerating.
Florida claims the #1 destination spot, welcoming 16.68% of all New York City residents who left since May 2024. The appeal is obvious: no state income tax, lower cost of living, warm weather, and increasingly, a robust job market in cities like Miami, Fort Lauderdale, and Palm Beach.
The Texas Test Case Reveals Conservative Migration Patterns
Texas provides the clearest evidence that blue state migrants aren't bringing progressive voting patterns with them. In the 2018 Senate race, native Texans favored Democrat Beto O'Rourke by 3 percent. California transplants? They favored Republican Ted Cruz by 15 percent.
Read that again. The people leaving California voted 18 points more conservative than lifelong Texans.
A 2013 Texas Tribune poll found California arrivals were 57 percent conservative compared to 27 percent liberal. These transplants were 5 percent more likely to have supported Trump than native Texans.
The narrative collapses under scrutiny.
Understanding Who's Actually Moving to South Florida
After more than 20 years as a Florida resident and real estate professional, I've developed a precise understanding of buyer psychology in this market. The migration pattern reveals something crucial: People don't leave high-tax states randomly. They leave because of specific policy disagreements, primarily around taxation, regulation, and business climate.
In the last decade, New York lost $111 billion in net adjusted gross income (AGI) to interstate migration, while Florida gained $196 billion. Florida captures over $36 billion in net income annually—that's $4 million per hour flowing into the state economy.
These buyers are self-selecting. With my unique blend of medical precision and real estate acumen, I diagnose and fulfill the unique needs of discerning buyers. They've already rejected progressive fiscal policy by the time they contact me about luxury pre-construction opportunities in Fort Lauderdale, Palm Beach, or the exclusive developments I represent, including the W Hotel and Residences in Pompano Beach, the Ritz-Carlton Residences in Palm Beach Gardens, and the Waldorf Astoria Residences.
South Florida's Millionaire Boom: What This Means for Luxury Real Estate Investment
West Palm Beach recorded a remarkable 112% increase in millionaire growth over the past decade, while Miami followed closely with a 94% surge. In stark contrast, New York City's growth rate hovered around a more modest 40%.
As a certified Buyer Agent Expert with years of experience navigating South Florida's luxury markets, I understand what these numbers mean for investment strategy. The buyers driving South Florida's luxury market aren't bringing progressive voting patterns. They're bringing capital and conservative fiscal priorities.
This creates sustained demand for the business-friendly environment that attracted them initially. It reinforces rather than undermines the policies that make Florida attractive to high-net-worth individuals seeking premium waterfront properties, exclusive pre-construction condominiums, and commercial real estate opportunities.
Cities like Austin may shift culturally, but voting data suggests the political transformation is overstated. The loudest voices don't represent the majority of transplants making seven-figure real estate decisions—decisions I help facilitate daily as a trusted advisor to CEO's, CFO's, family office owners, and ultra-high-net-worth individuals nationwide and internationally.
Who Are the New Yorkers Moving to South Florida?
My clients relocating from New York to South Florida represent a sophisticated cross-section of high-net-worth individuals. Based on my two decades serving this market, I work with:
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Financial Executives: CEO's, CFO's, CIO's, and family office owners seeking tax-advantaged jurisdictions for their wealth
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Luxury Boat Owners: Clients interested in South Florida's world-class marinas and deep-sea fishing opportunities
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First-Time Florida Buyers: High-earning professionals making their initial investment in the Sunshine State
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Commercial Real Estate Investors: Buyers seeking multifamily buildings, skilled nursing facilities, industrial warehouses, and automobile dealerships
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Retirees and Downsizers: Homeowners seeking luxury without the maintenance burden
These buyers share common priorities: reducing their tax burden, accessing premium lifestyle amenities, and securing long-term investment appreciation in politically and economically stable markets.
Why Experience Matters: Two Decades of South Florida Real Estate Expertise
Having lived and worked in New York's boroughs including Manhattan, as well as the Hamptons, before relocating to South Florida over 20 years ago, I understand both sides of this migration story. I've walked the path my clients are considering.
My unique background as a former physician gives me a diagnostic approach to real estate. I don't just show properties—I diagnose and fulfill the unique needs of buyers and sellers, ensuring a personalized experience that aligns with your goals. Whether you're buying, selling, relocating, or leasing, my mission is to guide you to the closing table with outcomes tailored to your financial and lifestyle aspirations.
My philanthropic initiative, the Ross/COMPASS Cares program, highlights my commitment to giving back to the South Florida community. Clients trust me for transparent, strategic guidance and genuine care—qualities honed during my years in the healing professions that ensure you feel confident every step of the way.
The Bottom Line: Expert Guidance for Your South Florida Real Estate Journey
Migration patterns are more complex than headlines suggest. As a former physician turned luxury real estate expert with over 20 years as a Florida resident, I've witnessed how the buyers relocating to South Florida make sophisticated decisions about tax policy, business climate, and investment returns.
They're not trying to recreate California or New York. They're trying to escape it.
That distinction matters when you're evaluating long-term market stability and investment potential in luxury real estate markets. Nearly 30,000 New Yorkers relocated to Palm Beach and Miami-Dade counties between 2018 and 2022, carrying with them $9.2 billion in annual income. The data suggests South Florida's appeal to conservative-leaning, high-net-worth buyers will continue driving demand in premium segments.
With my cultivated relationships and local knowledge spanning decades, I provide sophisticated buyers first access to tomorrow's most desirable addresses—access that's strictly limited to qualified investors. Whether you're interested in oceanfront towers in Miami, exclusive developments in Fort Lauderdale, luxury intracoastal homes and condominiums in and around Palm Beach, or commercial properties, my track record includes securing exclusive opportunities for high-net-worth clients seeking the ultimate in luxury living.
Understanding who's actually moving and why—combined with years of local expertise—helps predict where the next wave of luxury development and appreciation will occur.
Specialized Services for New York to Florida Relocations
As a certified Buyer Agent Expert specializing in New York to Florida migrations, I offer comprehensive services designed specifically for high-net-worth relocations:
1031 Exchange Expertise: Navigate tax-deferred property exchanges when selling New York properties and purchasing Florida real estate. I work with qualified intermediaries to maximize your tax advantages during the transition.
Pre-Construction Access: My cultivated relationships with South Florida's premier developers provide clients exclusive access to luxury condominium projects before they're available to the general market, including the W Hotel and Residences in Pompano Beach, the Ritz-Carlton Residences in Palm Beach Gardens, the Rosewood Residences in the Hillsboro Mile, the Bentley Residences in Sunny Isles, and the Waldorf Astoria Residences.
Commercial Property Sourcing: From automobile dealerships to multifamily buildings to industrial warehouses, I leverage my extensive network to identify off-market opportunities that align with your investment criteria.
Relocation Strategy: Having personally made the transition from New York to Florida over 20 years ago, I provide insights on everything from establishing Florida residency to selecting the right neighborhood for your lifestyle.
Ready to Discover Your Next Great South Florida Investment Opportunity?
Whether you're a New York executive considering relocation, a CEO seeking commercial property opportunities, or a high-net-worth buyer interested in exclusive pre-construction luxury condominiums, I'm here to guide you to the closing table with outcomes tailored to your financial and lifestyle aspirations.
As a certified Buyer Agent Expert and former physician, I bring medical precision to real estate transactions. My mission is simple: to help you find your next great deal and close it.
Contact Ross Kuflik today at kuflikabc.com to explore premium South Florida real estate opportunities including:
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Exclusive pre-construction luxury condominiums (W Hotel & Residences, Ritz-Carlton Residences, Rosewood Residences, Bentley Residences, Waldorf Astoria Residences)
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Luxury waterfront homes and estates
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Commercial real estate opportunities
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1031 exchange services
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Relocation assistance for high-net-worth individuals
Your real estate success story begins here. There's always a good deal somewhere, and I promise to help you find it and close it.
