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Own Luxury Homes® Florida Luxury Buyer Origin Index™
Own Luxury Homes® Florida Luxury Buyer Origin Index™: based on IRS Statistics of Income migration data for households with AGI $200,000+. New York accounts for 28-32% of Florida luxury migration. Top 5 origin states (NY, CA, NJ, IL, CT) account for 60%+ of net high-income flow to Florida. Florida is the #1 destination state for $200K+ households nationally. Market-by-market buyer profile: Palm Beach from Northeast, Naples from Midwest, Space Coast from California aerospace. Own Luxury Homes® 12-Point Agent Integrity Audit™.
Own Luxury Homes® Florida Luxury Buyer Origin Index™
Florida’s luxury real estate market is not primarily fed by Florida residents trading up. It is fed by a geographically concentrated wave of high-income households migrating from a small number of high-tax, high-cost states — and understanding where those buyers come from, why they’re moving, and which Florida markets they’re targeting is the foundation of effective luxury real estate strategy in this state.
01 — Top Origin States for Florida Luxury Buyers
The following rankings are derived from IRS Statistics of Income county-to-county migration data for households with adjusted gross income above $200,000, representing the primary luxury and near-luxury buyer segment. Data represents the most recently available annual filing period.
| Rank | Origin State | Share of FL Luxury Migration | Primary FL Destination Markets | Key Migration Driver |
|---|---|---|---|---|
| 1 | New York | ~28–32% | Miami-Dade, Palm Beach, Broward, Manhattan-on-the-Beach corridor | Combined NY state + NYC income tax burden up to 14.776%; cost of living; COVID-era remote work normalization; generational wealth transfer |
| 2 | California | ~15–18% | Miami, Naples, Tampa Bay, Orlando; some Space Coast (SpaceX/tech workers) | CA 13.3% income tax; high cost of living; business environment concerns; no-income-tax arbitrage on equity events |
| 3 | New Jersey | ~8–10% | Palm Beach, Broward, South Florida corridor (NJ/NY migration often moves together) | NJ 10.75% income tax; proximity to NY suggests NY-area migration bloc |
| 4 | Illinois | ~6–8% | Naples, Sarasota, Tampa Bay (historical Midwest corridor); The Villages | Chicago population loss; IL income tax; cold climate; traditional “Midwest to Naples” retirement corridor |
| 5 | Connecticut | ~4–6% | Palm Beach, Jupiter, Hobe Sound; the Gold Coast corridor | CT 6.99% tax + very high property taxes; Gold Coast corridor historically CT-to-Palm-Beach migration pipeline |
| 6 | Massachusetts | ~3–4% | Sarasota, Naples, South Florida | Boston wealth migration; cold climate; MA 5% income tax |
| 7 | Pennsylvania | ~3–4% | Tampa Bay, Treasure Coast, Southwest Florida | Philadelphia and Pittsburgh wealth migration; PA 3.07% + city taxes |
| 8 | Maryland / DC | ~2–3% | South Florida, Palm Beach | DC-area wealth migration; MD 5.75% + local taxes |
| 9 | Ohio | ~2–3% | Southwest Florida (Naples, Fort Myers), Tampa Bay | Traditional Midwest retirement corridor; OH 3.75% tax; cold climate |
| 10 | Georgia | ~2–3% | North Florida (Jacksonville), Central Florida, Tampa Bay | Intra-Southeast migration; GA 5.39% income tax; Atlanta wealth migrating to FL luxury |
| Other (all remaining states) | ~12–15% | Distributed across all FL luxury markets | Represents the long tail of national migration; no single state dominates | |
| Data source: IRS Statistics of Income county-to-county migration data, households with AGI $200,000+. IRS migration data is released with approximately 18-month lag. Share percentages represent estimated share of net positive migration to Florida from each state. “Luxury buyer” defined as households with AGI $200,000+ for migration tracking purposes; individual property purchases may not align with AGI segment. | ||||
02 — What the Origin Index Means by Florida Market
| Florida Market | Primary Buyer Origin | Secondary Origin | Cultural Profile | Price Anchor |
|---|---|---|---|---|
| Miami / Miami Beach | Latin America (domestic and international), New York, New Jersey | California, Venezuela/Colombia/Brazil (international) | International luxury, financial services, fashion/entertainment industry buyers | $500K–$20M+ |
| Palm Beach / Boca | New York, Connecticut, New Jersey | Massachusetts, Illinois | Old-money Northeast corridor, private equity, hedge funds, estate wealth | $1M–$30M+ |
| Naples / Marco Island | Illinois, Ohio, Michigan, Indiana | New York, California | Traditional Midwest retirement and second-home market; conservative wealth profile | $600K–$10M+ |
| Sarasota / Siesta Key | Midwest (IL/OH/MI), Northeast (NY/CT) | UK and European second-home buyers | Arts-community adjacent, professional class, semi-retirement buyers | $400K–$5M+ |
| Tampa Bay / St. Pete | Mixed Northeast and Midwest; growing tech/startup migration | Domestic relocation from all states | Younger professional buyers, corporate relocation, hybrid-work migration | $350K–$3M+ |
| Space Coast (Brevard) | California (aerospace/tech workers) | Northeast professionals | Aerospace and defense professional relocation; SpaceX/NASA/L3Harris workforce | $300K–$1.5M+ |
| Orlando (luxury market) | Mixed national; no single dominant origin | International (Latin America, Europe) | Corporate relocation, entertainment industry, healthcare professionals | $400K–$3M+ |
| Jacksonville | Mixed; growing Southeast relocation | Northeast professionals | Military, financial services, growing tech sector migration | $300K–$2M+ |
Brown, Ryan. “Own Luxury Homes® Florida Luxury Buyer Origin Index™.” Own Luxury Homes®. https://www.ownluxuryhomes.com/markets/florida/research-indices/luxury-buyer-origin-indexMedia inquiries: ownluxuryhomes.com/connect · 407-900-7030
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— Ryan Brown, Principal Broker & CEO, Own Luxury Homes® (FL License BK3626873)