Florida is now America’s inflation hotspot

“A lot of people are still coming to Florida because the economy is really strong, and many like the fact that we don’t have an income tax like in New York, for example,” said Amanda Phalin, an economist at the University of Florida. “And in places like Miami, we’re seeing a lot of real estate demand from non-Floridians or non-American investors — generally wealthy folks who want to have a nice home here.”

Florida’s population grew the most of any state from July 2021 to July 2022 because of domestic migration, according to the Census Bureau’s latest estimates. During that same period, Florida also had the fastest population growth by percentage, the first time it has notched that top spot since 1957.