BOCA RATON, Fla. — The rising cost of living in Florida is prompting about half of the state's residents to consider leaving the state.
That's according to a new poll released Monday by Florida Atlantic University, which surveyed 1,000 people over the age of 18 between Sept. 30 and Oct. 10.
The study found that 90% of residents are at least somewhat concerned about inflation, and 80% are concerned with housing affordability.
Nearly 50% of Floridians surveyed say they have considered moving out of Florida due to the cost of living.
"The moving consideration rate is striking as it suggests that while Florida attracts new residents, many current ones feel squeezed enough to think about leaving," said Eric Levy, the assistant director of FAU's Business and Economic Polling Initiative (BEPI). "An affordability anxiety shadows Florida's boom economy: can residents afford to live here and provide for themselves?"
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The poll found that only 51% of those surveyed feel at least somewhat confident they could buy a home in today's real estate market.
The survey found that living paycheck to paycheck due to affordability issues has also become the norm, with 43% of respondents saying they live paycheck to paycheck, while 26% said they do so occasionally.
According to the FAU study, only 48% have an emergency fund covering at least three months of expenses.
"For most Floridians, financial security feels one expense away from collapse," Monica Escaleras, the chair of the department of economics and director of BEPI, said. "Many of those surveyed attributed the high cost of living to not being able to save more."
Click here to read the full results of the study.
This latest report from FAU comes on the heels of a recent study by Advance America that said Florida workers need to work about 21 days each month just to pay their bills.
