The exodus of the New York middle class residents to Florida

According to a report written by Daniel Cobb and published in November 2025 by MovingPlace (“NYC Migration Report: The Affordability Exodus”), New York City residents have been massively moving to Florida as part of what researchers described as an “affordability exodus.”

The report comes as democratic socialist Zohran Mamdani was elected NYC mayor, sparking both joy from progressives and concerns from opponents.

“When Zohran Mamdani announced his candidacy for New York City mayor with proposals to tax high-income earners and provide services like fare-free buses, critics immediately predicted an exodus of wealthy residents,” researchers said. “The data tells a more nuanced story”.

While many critics expected wealthy New Yorkers to flee these sorts of policies, MovingPlace’s data instead shows that fewer high-income residents left after Mamdani’s primary win than before (a roughly 1% difference year-over-year).

The data reveals a consistent pattern: people earning $51,000 to $100,000 and $101,000 to $200,000 account for the largest proportion of total outflows from New York City. These aren’t the ultra-wealthy that Mamdani’s tax proposals target. Instead, they’re the middle and upper-middle class.

From May 2024 to October 2025, New York City experienced a stark demographic shift:

• 15,552 high-income earners making over $201k left the city.
• 164,249 lower-income earners making less than $200k left the city.
  

   THE SUNSHINE STATE WINS

  According to the report as well as in the chart featured above, 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.

  But Florida’s magnetic pull extends across all income brackets in surprising ways.

  If you or someone you know is considering leaving New York to relocate to Southeast Florida; from Miami Beach to Bal Harbour, from Aventura to Hollywood, feel free to contact Arielle Biscayart and her team; she will be glad to help you find your next home or business space for lease or sale.